Acquiring Minds

Jordan Evans left tech & bought a tiny, decades-old language services business. 6 years later, revenue is 17x larger.

Topics in Jordan’s interview:

• Acquiring his parents’ language services business
• Spending 2 years preparing the deal
• Overpaying for a 180k SDE business
• Doubling the businesses through organic growth
• Pros and cons of seller notes
• “We’re buying a bucket of people and problems”
• Bolting on language companies as a growth strategy
• How fast they integrate newly acquired businesses
• Opportunities for white-collar rollups
• Growing from 4 to 42 employees

References and how to contact Jordan:

• LinkedIn
• Twitter
• Language Network
• Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential by Greg Crabtree

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

• Oberle Risk Strategies - Search Fund Team

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

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

Register for the webinar:

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4fa3CKB

Brett Kennedy has doubled & strengthened the sub-$1 million moving business he bought — but it hasn't been without pain.

Topics in Brett’s interview:

• Being raised in an entrepreneurial family
• Buying Furniture Taxi, a moving company
• Driving the truck himself when employees don’t show
• Surprises the seller failed to mention
• Good and bad of buying small
• Daily stressors of running a small business
• Hiring a GM
• Doubling the business despite a shrinking market
• Your employees are your customers
•  The next company he wants to buy

References and how to contact Brett:

• LinkedIn
• Adrian Pinto’s episode
• Atlanta’s Furniture Taxi

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

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

Register for the webinar:

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3WwZqNR

When Dustin Carreon reached a ceiling in his first small business, he used the profits to start buying other businesses.

Topics in Dustin’s interview:

• Growing up in his parents’ scrapping business
• Inheriting and growing Freelance Electronics
• Learning the most from a difficult acquisition
• Timing and luck matters
• Key person risk in small-staff businesses
• His mistake of expanding before establishing expectations
• Cross-training employees as part of his holdco vision
• An investor attitude compared with an entrepreneur attitude
• Building a holdco without a college education
• Challenge of writing down processes

References and how to contact Dustin:

• LinkedIn
• Twitter
• COI Holdings

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

Register for the webinars:

• Search Investor Roundtable: State of the Market - https://bit.ly/4cvUOwV

• Overcoming Common Deal Sticking Points - https://bit.ly/4cD9z17

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/3LpQEuK

How Adam Markley evaluated thousands of businesses for sale and bought a handful of his own (6 in his portfolio today).

Topics in Adam’s interview:

• Using online courses to teach business acquisition
• SBA loans vs. seller notes
• Raising your potential with partnerships
• His holdco of 6 diverse companies
• How acquisitions in the UK and US differ
• Power of personalized outreach
• 2 main tracks to business acquisition
• An operating partner who emptied the bank accounts
• Working in a medical staffing agency before buying it
• Looking at both on and off-market businesses

References and how to contact Adam:

• LinkedIn
• Twitter
• [email protected]
• PROX Capital Group
• Adam’s fractional CFO firm, Veracity CFO
• Tato Corcoran’s episode

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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

Register for the webinars:

• Search Investor Roundtable: State of the Market - https://bit.ly/4cCMyuZ

• Overcoming Common Deal Sticking Points - https://bit.ly/3LkCpr3

• How (and Why) to Choose a Franchise as an Acquisition Entrepreneur - https://bit.ly/4f2hCGc

Nick Haschka & Dillan Ferguson are 5 months and 2 acquisitions into a roll-up targeting $50-60m revenue in 5 years.

Topics in Nick and Dillan interview:

• How Nick and Dillan met on Twitter
• The future of reliance on generators
• Serving both residential and commercial customers
• Separating the business into service and installation teams
• Doubling the number of employees
• Atmospheric river caused a crisis 3 weeks after acquisition
• Being a leader is different than being an employer
• Developing their own software
• Where they find their technicians
• Comparing the risk of an asset purchase and a stock purchase

References and how to contact Nick and Dillan:

• Nick Haschka Twitter
• Nick Haschka LinkedIn
• Dillan Ferguson Twitter
• Dillan Ferguson LinkedIn
• OnPoint Generators

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

Register for the webinars:

• SBA Lender Roundtable: State of the Market - https://bit.ly/4bydwTe

• Due Diligence Office Hours - https://bit.ly/3WbVpxT

• Search Investor Roundtable: State of the Market - https://bit.ly/45SWMEY

• Purchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4eQ7z79

How Dominick Blue bought an air duct cleaning business and took it into HVAC services, all while retaining his W-2.

Topics in Dominick’s interview:

• Keeping his W-2 while acquiring companies
• Mistakes he made during diligence
• Revamping service offerings
• Looking for “diamond in the rough” leaders
• Expanding from air duct cleaning into HVAC
• His fetal position moment
• Being ghosted by his bank
• Buying a business while expecting a baby
• Advantage of selling directly to consumers
• Drawing from his training in the U.S. Marines

References and how to contact Dominick:

• LinkedIn
• Twitter
• Air ASAP
• Winning Moves by Dan Cremons

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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

Register for the webinars:

• SBA Lender Roundtable: State of the Market - https://bit.ly/4eTZ8Yn

• Due Diligence Office Hours - https://bit.ly/3WbAs6h

• Search Investor Roundtable: State of the Market - https://bit.ly/4eVYDxc

• Purchase Agreement Fights: How to Avoid (or Win) Them - https://bit.ly/4bwcgQx

By doubling a $3m EBITDA business Juan Aguilar bought with traditional search fund terms, he is able to hold it forever.

Topics in Juan’s interview:

• Huge challenge of buying a business in Central America
• Buying a door manufacturer in Guatemala
• Implementing EOS
• Moving his focus from “how” to “who”
• Raising prices 25%
• Focusing on service, quality, and volume
• Finding a CEO to replace him
• Having a liquidity event without exiting the business
• Transitioning towards a permanent capital model
• Plan for a holdco

References and how to contact Juan:

• LinkedIn
• Paltus Capital

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

Register for the webinars:

• Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/4eJqUXB

• Fri July 12 - Due Diligence Office Hours - https://bit.ly/3VPQf9p

We caution against thinking you can find it: 100% seller financing. But Renan Cortez did — and on a sizable business.

Topics in Renan’s interview:

• His background as an Army medic
• Learning about acquisition via Codie Sanchez
• Using a virtual assistant to search for a business
• Negotiating a 100% seller note
• Feeling motivated by philanthropy
• Spending too much money too fast after transition
• Getting a bridge loan to make payroll
• Rebranding the restoration company
• Raising capital for growth
• His large roll-up vision

References and how to contact Renan:

• LinkedIn
• Twitter
• Syndicate Building Solutions
• Syndicate Venture Group

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

• Oberle Risk Strategies - Search Fund Team

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

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

Register for the webinars:

• Thu July 11 - SBA Lender Roundtable: State of the Market - https://bit.ly/3XSdIcG

• Fri July 12 - Due Diligence Office Hours - https://bit.ly/3W1zQA6

Garrison Snell enjoyed a modest exit at age 24. By 30, he'd parlayed that into a holdco with $9m EBITDA and a mission.

Topics in Garrison’s interview:

• Building and exiting a recording artist marketing agency
• His objective to do the most good for the most people
• Early ventures into real estate
• Buying and quickly selling a restaurant
• Acquiring in the manufacturing space
• Understanding and applying Porter’s 5 Forces
• Advantage of being a low-cost, essential supplier
• Recent leadership challenges at a new acquisition
• Building an indefinite holding company
• Power of a community-minded small business

References and how to contact Garrison:

• LinkedIn
• Twitter
• [email protected]
• Rafael Quinn’s episode
• Competitive Strategy by Michael E. Porter

Smithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• 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

Register here for the webinar, How to Buy a Business & Hire an Operator at Once

• https://bit.ly/3KJnYwg

7 years ago Dan Verboski bought a sign business with $650k in earnings. He's doubled it, but ownership has taken a toll.

Topics in Dan’s interview:

• Background in the Marines and retail
• Buying a sign company in Tyler, Texas
• Culture clashes and problem employees
• Selling off his real estate to keep the business going
• How he learned to fire faster
• Building a new company culture
• Making personal changes to recover from burnout
• Standing out by answering the phone
• What he would do differently next time
• His growth as a leader

References and how to contact Dan:

• LinkedIn
• Twitter
• Leon’s Signs Inc.
• ETA Circle in Houston, where Dan will be appearing on July 10th

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• 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