Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks to Vic Keller of Experience Ventures ( https://www.linkedin.com/in/vickeller/ ) about building 17 companies over two decades with 9 exits, having businesses acquired by Berkshire Hathaway, and his operator-first approach to building durable, people-driven companies - including a vertically integrated car wash platform spanning manufacturing, chemistry, and service/maintenance.

0:00 Deal-by-Deal vs Fund Life
3:48 Operator Mindset in the Lower Middle Market
8:10 Buffett Lessons + Durability
18:36 Car Wash Playbook
23:46 HoldCo Structure
27:50 Recruiting A-Players
32:17 Co-Invest Partners
36:22 Bigger Deals: What Changes
39:28 Debt vs Equity
42:06 Founders: Recap vs Sell to PE
48:04 ETA/Search Funds: Post-Close Risk
55:10 People and Investing in Yourself

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Operators, independent sponsors, searchers, and lower middle market investors: this episode is about building repeatable deal flow in the $2-15M EBITDA range by making opportunities, talent, and capital come to you.

You’ll learn “relationship compounding” through two lenses: Larry Gagosian - the billionaire art dealer who engineers environments where influential people want to be (all in service of one goal: selling more art) - and TheRealEstateG6 ( https://x.com/TheRealEstateG6 ) on X, whose “yacht” framework shows how to stop restarting from zero and build platforms, venues, and proof that create real gravity.

Show notes:
0:00 Build “inbound” deal flow in the $2-15M EBITDA range
2:58 Why most relationships don’t compound (and how to fix it)
6:44 The first upgrade: become a “regular” and let familiarity stack
10:22 Gagosian’s flywheel: one gatekeeper unlocks the next layer
13:05 Build your “market map” (CRM mindset) before it pays you
16:09 “Create your own yacht”
19:28 Deal flow as a two-sided platform: owners + capital allocators
25:07 Modern yachts: Shark Tank, media, and flipping who chases who
31:59 The 5-question test for a real yacht
38:11 The whole thesis: manufacture situations where people come to you

Sponsor:
https://capitalpad.com/ - A deal-by-deal private equity investing platform

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks to Millen Rastogi of UniversaCare ( https://www.linkedin.com/in/millenrastogi/ ) about leaving his analyst role at Deutsche Bank to build a healthcare roll-up and acquire five companies.

Show notes:
0:00 Millen Rastogi
1:05 From Deutsche Bank to home care
4:30 Walking into a mess
13:26 Funding the early years
19:54 Growth numbers + COVID hit
23:02 Margins and revenue
25:50 Building the platform to buy
27:17 First acquisition
30:56 Seller financing playbook
36:35 The “silver tsunami” sellers
41:50 Second acquisition
51:48 70% seller-financed deal example
1:09:09 Learning M&A with AI + X

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks to Reza Jafer of Second Bite Capital ( https://x.com/rezajafer ) about how he left private equity to acquire three companies in three months.

Show notes:
0:00 Independent sponsor jump
3:38 Origin story
8:04 First acquisition
10:15 The motor coach platform
14:36 Deal #1 terms
18:46 Early wins
26:22 Fundraising lesson
29:44 Deal #2 raise in chaos
35:17 Platform strategy
40:41 Endgame

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

The lower middle market runs on trust and relationship building.

In this episode, we explore Bowles Hollowell Conner & Co., the quiet Charlotte-based advisory firm that shaped how lower middle market M&A gets done. Before private equity was institutionalized asset class, BHC figured out how to turn founder-led businesses into transactions lenders could underwrite and capital could trust.

This is a story about credibility over capital, why bad packaging can kill deals, and how preparation - not promotion - closes deals in the lower middle market.

Timestamps:
0:00 Why great investing ecosystems can be traced back to a few hidden origins
1:10 How a small Charlotte firm became a training ground for middle-market M&A
3:27 What Erskine Bowles saw at Morgan Stanley in the 1960s
6:35 How BHC turned founder chaos into lender confidence
10:12 Why BHC became the default choice for family-owned businesses
14:22 The true job of a great lower-middle-market advisor
15:21 Cash flow as downside protection
19:17 How BHC helped fuel middle-market efficiency
21:08 Where BHC alumni show up today
22:07 Attention to detail, low ego, and a partnership mindset

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

Follow Mike/PrivateEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks to Luis Reyes of Iberian Ventures ( https://www.linkedin.com/in/luiz/ ) about how he has completed over 30 acquisitions in 4 years and is building a fire safety rollup in Europe.

Snow notes:
0:00 From rural Mexico to more than 30 acquisitions
4:00 Buy-and-build thesis
6:45 Funding the first deals
11:55 The 100-day integration playbook
19:00 Using AI to scale operations and service quality
32:05 Deal sourcing at scale without spam
37:05 Managing risk, customer concentration, and diligence
44:35 Takeaways for other buyers
53:00 Hold vs sell and capital discipline

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks to Christa Glassburn about how she joined a search fund, acquired seven companies and scaled revenue from $15 million to $200 million.

Snow notes:
0:00 Christa’s $15M to $200M scaling story
2:30 FBI operator lessons
3:37 Jump to a search fund and move to rural Virginia
11:51 First acquisition and integration learning curve
17:28 Culture reset and global expansion via acquisitions
20:05 Post acquisition playbook
23:08 7 total acquisitions and off market sourcing
30:25 Transition to launching Harbor Capital
39:36 How to find invisible small town deals

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

This episode breaks down how Jeremy Giffon ( https://x.com/jeremygiffon ) thinks about special situations, forced sellers, and overlooked businesses, showing why the best investments come from understanding incentives, human behavior, and coordination problems rather than complex models or market timing.

Show notes:
0:00 Special situations in the lower middle market
6:18 The perfect business is getting paid for your words and gaining access
9:44 Coordination problems and forced sellers create the best deals
11:44 Ghost ship companies and orphaned assets that VCs misunderstand
15:28 Patience and selectivity outperform constant deal activity
18:42 Negotiation and the 25 million LOI with a Ferrari 488
21:19 Six unconventional truths about making better business decisions

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

Follow Mikk/PrivateEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Mike Markus ( ⁠https://x.com/PrivatEquityGuy ) talks to Jeremy Yamaguchi ( https://x.com/jeremyyamaguchi ) about how he acquired 10 companies in 18 months.

Show notes:
0:00 How Jeremy built and exited 3 home services businesses
5:48 Why “boring” home services were a massive tech opportunity
8:11 Why he chose venture for Lawn Love + the YC story
12:41 Why home services are still wildly fragmented and why most founders misunderstand the space
13:59 Sponsor: CapitalPad (backing searchers + proprietary deal access)
17:36 Game selection
27:23 Cabana thesis: national pool brand via M&A + ops + vertical software
28:45 Sponsor: SpaceBar Studios (35,000 newsletter subs in 90 days guarantee)
34:48 10 deals in 18 months, 4x YoY growth
59:45 Only buy from good-faith sellers

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

This one hire is something all profitable, cash-flowing traditional businesses can do. Yes, it can be a significant investment -- great specialists aren’t cheap -- but in the right setup, it can completely change the trajectory of a company.

I share two real-world examples of owner-operated, non-glamorous businesses that hired a Chief Investment Officer to professionally manage excess cash. In both cases, capital allocation quietly became the dominant profit engine, generating the majority of group earnings while the core operations remained stable and conservative.

TIMESTAMPS
0:00 The hidden problem of excess cash in profitable businesses
1:55 When reinvestment, M&A, and dividends all stop making sense
2:00 Hiring a Chief Investment Officer
3:10 Case study: a fruit importer that turned cash into its main profit engine
4:40 Case study: a family manufacturer where capital allocation drove 80% of profits
6:45 Why capital allocation becomes the real growth engine over time

Sponsors:
https://capitalpad.com/ - A deal-by-deal private equity investing platform
https://www.spacebarstudios.co/inquire

Follow Mikk/PrivateEquityGuy on Twitter: ⁠⁠https://x.com/PrivatEquityGuy

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.