Acquiring Minds

Mike Bourgeois bought an HVAC company bleeding $3m a year, all cash and no SBA, then cut $1.4m of costs in 2 weeks.

Register for the webinar: 

• The Deal I Almost Bought (And Why I Passed) - Thu, Sep 10 - https://bit.ly/4zKAGTN

Topics in Mike’s interview:

• Led major Air Force medical practice
• Found a search partner with complementary skill sets
• Bet on distressed businesses with liquidation value
• Found a deal through veteran ETA Slack
• Speed beat the highest bid
• Immediately cut $1.4M in annualized expenses
• Raised gross margins from 7% to 49%
• Shifted from silos to teamwork
• Emphasis on ongoing staff training
• His goal of being a capital allocator/investor

References and how to contact Mike:

• LinkedIn
• Cardinal Heating & Air
• Book: The Compounders: From Small Acquisitions to Giant Shareholder Returns

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Sujith Shankar left 25 years in corporate to buy cash-flowing businesses: a $1.2m repair shop and a $2m body shop.

Topics in Sujith interview:

• How Rivian layoffs changed everything
• Falling down the Warren Buffett rabbit hole
• Why auto repair beat real estate
• Funding a deal without an SBA loan
• Running a business while keeping a W-2
• Winning over skeptical employees after closing
• Planning a mini Berkshire Hathaway
• Is EV adoption really a threat?
• Buying a second business just months later
• Collision shops vs. repair shops

References and how to contact Sujith:

• LinkedIn
• The Billionaire Who Wasn’t by Conor O’Clery
• Edgar Galindo on Acquiring Minds: How 1 SBA Loan Brought Down 2 Businesses

Contact Jenny to learn how Engage can run people operations in your acquisition:

• Jenny Thear: [email protected]

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Courtney and Jonathan Dunn bought a fast-growing SaaS at 3-4x ARR, doubled it, then merged for a life-changing exit.

Register for the webinar: 

• Architecture of an Entrepreneurial Roll-Up - TOMORROW!! - https://bit.ly/4gXkwPt

Topics in Jonathan & Courtney’s interview:

• Their background in oil & gas
• Turning down an offer from Apple
• Improving their investor pitch
• Traveling extensively to search
• Acquiring a niche healthcare software company 
• Using all equity, no debt, for the deal
• Using an earn-out to resolve valuation disagreements 
• Having a baby during the acquisition process
• The hire they wish they’d made sooner 
• Advice for couples considering building a business together.

References and how to contact Jonathan & Courtney:

• Jonathan’s LinkedIn
• Courtney’s LinkedIn
• Cerbo
• Ned Tomasevic spelling on Acquiring Minds: How to 4x EBITDA in 3 Years Without Growing Sales

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or [email protected] and mention Acquiring Minds

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Andrew Sova and Alex Clark revived sales at a 40-year-old sign manufacturer, the first acquisition of their holdco.

Register for the webinars:

• New SBA Rules: What Business Buyers Need to Know - TODAY!! - https://bit.ly/4hGNwMi
• Architecture of an Entrepreneurial Roll-Up - Tue, Sep 1 - https://bit.ly/4qc7dxx

Topics in Andrew & Alex’s interview:

• Meeting at BCG
• Partnership provided accountability and motivation
• Looking for direct-impact roles
• Prioritizing speed with brokered search
• Their vision to build a holdco
• Winsor Fireform makes uniquely durable signage
• Employee growth = key success metric
• Seller chose buyers based on trust, not price
• Customers include parks, transit systems, and stadiums
• Long negotiation over working capital

References and how to contact Andrew and Alex:

• Andrew Sova’s LinkedIn
• Alex Clark’s LinkedIn
• Novo Foundry
• Cayne Crossing
• Winsor Fireform
• Pioneer Capital Advisory

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Contact Jenny to learn how Engage can run people operations in your acquisition:

• Jenny Thear: [email protected]

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Jeff Homer returns with an update: revenue past $100m, a new dance division, and 50% growth expected this year. 

Register for the webinars:

• Licenses & Regulatory Issues When Buying a Business - TOMORROW! - https://bit.ly/4ccatTW
• New SBA Rules: What Business Buyers Need to Know - Thu, Aug 27 - https://bit.ly/4c3b6zj
• Architecture of an Entrepreneurial Roll-Up - Tue, Sep 1 - https://bit.ly/4zdTbj2

Topics in Jeff’s interview:

• Building a music school roll-up
• Scaling through monthly acquisitions
• Expanding into dance schools
• Back-office value creation
• Transitioning from operator to CEO
• Building middle management
• Avoiding private equity pitfalls
• 100x return for early investors
• Constant travel as CEO
• Future vision for Ensemble

References and how to contact Jeff:

• LinkedIn
• Ensemble
• Jeff’s first appearance on Acquiring Minds: How to Buy 40 Businesses in 4 Years
• Webinar:Architecture of an Entrepreneurial Roll-Up

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or [email protected] and mention Acquiring Minds

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Neil Finneran returns 3 years after buying a business so small it barely paid him a salary — now on pace for $800k.

Register for the webinars: 

• Learn to Avoid the #1 Reason Acquisitions Fail - TODAY!! - https://bit.ly/4qg4P9k
• Licenses & Regulatory Issues When Buying a Business - Tue, Aug 25 - https://bit.ly/4wTADDf

Topics in Neil’s interview:

• Neil’s previous appearance on Acquiring Minds
• His background in hedge funds
• Pain of buying small
• Managing labor and no-shows
• Implementing a hybrid-pay model for techs
• The acquisition that tripled his revenue
• Christmas lights services in the off season
• Rising customer acquisition costs
• Barriers to entry in pest control
• Why his outcome diverged from Jesse Sunquist’s

References and how to contact Neil:

• LinkedIn
• Mosquito Joe of Andover-Peabody
• Neil’s first appearance on Acquiring Minds: How to Survive Going from Hedge Funds to SMB Owner
• Jesse’s most recent appearance on Acquiring Minds: 3 Years, $80k In: An Honest Update
• Jesse’s first appearance on Acquiring Minds: How to Widen Your Search to Buy a Business

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Contact Jenny to learn how Engage can run people operations in your acquisition:

• Jenny Thear: [email protected]

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Jesse Sunquist put a GM in charge and stepped back to 5 hours a week — proud of the experience, restless about the outcome.

Register for the webinar: 

• Learn to Avoid the #1 Reason Acquisitions Fail - Thu, Aug 13 - https://bit.ly/4wPHY6R

Topics in Jesse’s interview:

• Buying a business for flexibility
• Geographical search in New Jersey
• Lowering his minimum SDE threshold to $300K
• Acquiring 2 Mosquito Joe territories
• His plan to build wealth through franchise roll-ups
• Modest growth followed by shrink
• How other owners handle the off-season
• Taking a W2 with the intent to sell
• Inability to find a buyer
• Hiring a great GM to run it

References and how to contact Jesse:

• LinkedIn
• Mosquito Joe
• Jesse’s previous interviews on Acquiring Minds:
  • Reflections After 1 Year of Searching Full Time
  • A Reward for Widening Search to $300k SDE
• Neil Finneran on Acquiring Minds: How to Survive Going from Hedge Funds to SMB Owner

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or [email protected] and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Greyson Boerner traded startup life for a 28-year-old niche business — now on pace to grow revenue 50% in year one.

Register for the webinar:

• Learn to Avoid the #1 Reason Acquisitions Fail - TODAY!! - https://bit.ly/4z0fkBx

Topics in Greyson’s interview:

• Founding software startups
• ETA as a path to stability
• Getting his education with Acquisition Lab
• Finding business brokers through Google Maps
• Uncovered niche church pew restoration business
• Competitor closure created significant growth opportunity
• Church visit reinforced acquisition decision
• Hired bilingual ops manager to bridge communication
• Stolen truck fiasco
• Revenue up 50%, margins pressured by investments

References and how to contact Greyson:

• LinkedIn
• Worship Interiors Group

Contact Jenny to learn how Engage can run people operations in your acquisition:

• Jenny Thear: [email protected]

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Chibunna Chimezie's seller left $15k in the account. His post-acquisition liquidity is the only reason he made it. 

Register for the webinar:

• Learn to Avoid the #1 Reason Acquisitions Fail - Thu, Aug 13 - https://bit.ly/4wUCNSY

Topics in Chibunna’s interview:

• His family’s immigration story from Nigeria
• Interest in how American healthcare works
• Learning to manage risk in business school
• Acquiring a service provider for veterans
• Government shutdown meant no revenue first 2 months
• Post-acquisition liquidity for the win
• Challenges veterans face back home
• Answering the after-hours phone himself
• His journey from banking to behavioral health
• Investment from New Majority Capital

References and how to contact Chibunna:

• LinkedIn
• Veterans Room
• New Majority Capital

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or [email protected] and mention Acquiring Minds

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron

Randy Rempp turned around a $17m insurance business as a rookie CEO, then used that track record to raise a search fund. 

Register for the webinar: 

• The 3 Paths to Franchising for Acquisition Entrepreneurs - TODAY!! - https://bit.ly/4yGEhSe

Topics in Randy’s interview:

• From insurance lawyer to business operator
• Leading 300 employees at age 29
• Why ownership beats being the hired gun
• Switching to a traditional search fund
• Investors bet on operators, not deal finders
• River guides unlock industries and warm introductions
• Inside the $31 million acquisition structure
• Why every CEO needs a strong CFO
• The F-reorg that saved the deal
• Refinancing to return capital and fuel growth

References and how to contact Randy:

• LinkedIn
• Meridian Title Corporation
• Young Presidents Organization (YPO) 

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Contact Jenny to learn how Engage can run people operations in your acquisition:

• Jenny Thear: [email protected]

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron