Acquiring Minds

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Rafael Quinn shares the story & principles behind buying 3 businesses in Panama then raising $28m to buy more in the US.

Topics in Rafael's interview:

• Selling everything on Craigslist to move to Panama
• Buying his first business Panama from a billboard ad
• How to buy a business with an operator
• How he decided to build a holdco
• Self-identity as investor vs. entrepreneur
• 3-year dry spell not buying any businesses
• Being in "search mode" your whole career
• Breaking his own rule by buying a restaurant
• Why he turned his sights to the US
• How to raise $28m & structure a holdco
• Why buy a furniture retailer

References and how to contact Guest:

• Twitter
• LinkedIn
• Athens Pizza
• Hickory Park
• Alternative Holdings

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

The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths.

Topics in Christian’s interview:

• His front row seat to the 2008 financial crisis
• Qualities of a top salesperson
• Business acquisition as a way out of a miserable career
• Shopping around for an SBA loan
• Choosing to play to his strengths and outsource his weaknesses
• Difficulty in hiring for construction
• Bouncing back and growing after Covid losses
• Red flags he ignored when acquiring his second business
• How his finance background benefited him
• His $100 million goal

References and how to contact Christian:

• LinkedIn
• Resolute Services

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

• Matthias Smith of Pioneer Capital Advisory

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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Patrick Norris bought a small trash business doing $625k. Five years later and 4.5x bigger, a strategic got interested.

Topics in Patrick’s interview:

• Why acquiring a trash business is easier than starting one
• Intricacies of trash disposal pricing
• Niches within trash services
• Competition and cooperation in trash services
• The first question you should ask when considering a trash business
• Why he regrets not hiring a manager
• Hiring for dangerous, strenuous jobs
• 4xing revenue through customer service and Google ads
• The cycle of building and selling a trash business
• Buying a business without an MBA

References and how to contact Patrick:

• LinkedIn

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

Only after Matt Jackson bought a roofing business in the hurricane state did he realize just how big the opportunity is.

Topics in Matt’s interview:

• His experience with Acquira
• Keeping the seller as an employee
• Why he likes roofing despite drawbacks
• How he satisfied his licensing requirement
• Moats around spray foam roofing
• Standing out in the roofing industry
• His vision for organic growth
• How insurance companies drive demand for new roofs
• Using ROBS for financing
• Why he won’t buy the ROBS ownership interest back from his 401k

References and how to contact Matt:

• [email protected]
• LinkedIn
• USI Roofing
• The MLS-style site with for-sale businesses in Florida

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

• The Acquisition Lab

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

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

At age 63, Maurice Thomas wasn't ready to retire, so he bought an electrical contractor with $1m in earnings instead.

Topics in Maurice’s interview:

• Buying a business after age 60
• Learning the right amount of diligence to do before submitting an LOI
• Importance of a target statement for searchers
• His values-first approach to business
• Importance for searchers to “know thyself”
• Politics and religion in the workplace
• Gratifying work of coaching employees
• His succession plan
• Challenge of hiring lead electricians
• Creating incentives that align with company goals

References and how to contact Maurice:

• LinkedIn
• [email protected]
• Main Line Electrical

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

• Matthias Smith of Pioneer Capital Advisory

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

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

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

How Andrew Stordeur bought a 25-year-old furniture manufacturer in Alberta without having to use any of his own capital.

Topics in Andrew’s interview:

• Taking a startup to an IPO
• Competition in the wood furniture space
• Financing without the SBA
• Advice for Canadian searchers
• Getting a 35% seller note
• His 100% financed deal
• His plan to increase direct-to-consumer sales
• Being the sole breadwinner for a family of 6
• Deciding not to buy with a partner
• How his company ships faster than Amazon

References and how to contact Andrew:

• LinkedIn
• Twitter
• All Things Cedar
• Village Wellth

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

• The Acquisition Lab

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 here for the webinar, Working Capital 101

• https://bit.ly/3IGEZWQ

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Stephen Olmon & Collin Trimble set out to roll up the alarm industry in Texas. Alarm Masters is their first acquisition.

Topics in Stephen and Collin’s interview:

• All about the alarm, fire, & security industry
• Their roll-up strategy
• Moats in the form of risk and licensing requirements
• Valuation based on monthly recurring revenue
• Educating their lenders on industry practices
• Using a holdback to mitigate attrition risk
• Choosing to offer both installation and service
• The supply of technicians in this industry
• The value of Collin’s sales skills
• Strategic questions they asked during due diligence

References and how to contact Stephen and Collin:

• Stephen Olmon Twitter
• Stephen Olmon LinkedIn
• Collin Trimble Twitter
• Collin Trimble LinkedIn
• Alarm Masters

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

• Matthias Smith of Pioneer Capital Advisory

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

• Contact [email protected] or visit Aspen HR

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, Working Capital 101

• https://bit.ly/3veZaYP

Alan Lochridge left a career in consulting to buy a 20-year-old $5.5m hardscaping contractor with strong fundamentals.

Topics in Alan’s interview:

• Years of searching before acquiring
• Understanding the ROBS financing strategy
• Reiterating company values weekly
• His day-to-day role as owner
• Restructuring to do more with fewer people
• Embracing digital marketing and CRM tools
• Why he’s so comfortable with project-based revenue
• Advantage of a negative cash conversion cycle
• Pros and cons of using subcontractors
• Getting his general contractor’s license

References and how to contact Alan:

• LinkedIn
• [email protected]
• The Stone Man

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

Register here for the webinar, Working Capital 101

• https://bit.ly/3IFObuB

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Despite an overwhelming transition, today Dan Tagliatela has 17x'd his initial investment and delegated the day-to-day.

Topics in Dan’s interview:

• His background in investing
• What margins indicate about a business
• Return on assets as a quality metric
• Acquiring a pavement sealing company
• Geographic density advantage of the business
• His goal to double volume over 10 years
• Replacing the antiquated robocall machine
• Stress of learning and upgrading at the same time
• Buying a window cleaning company
• The Goldilocks approach to management

References and how to contact Dan:

• LinkedIn
• Competitive Strategy by Michael Porter
• Competitive Advantage by Michael Porter

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

• Oberle Risk Strategies - Search Fund Team

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

John Wilson bought & grew a very small plumbing business 26x over the last 7 years, and today has plans to reach $100m.

Topics in John’s interview:

• Growing up in his family’s home services business
• Taking over the business at 23
• Acquiring a turnaround to grow his business
• His first time doing layoffs
• Using CertainPath’s model to grow
• Tripling his ad spend during Covid
• Why he believes in buying small
• His take on installing an operator
• His plan to get to $100M
• The taxonomy of blue collar businesses

References and how to contact John:

• Owned and Operated (his podcast)
• The Wilson Companies
• Twitter
• John’s tweet thread breaking down homes services business
• CertainPath

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