Spacebar Studios is offering your company a free 90-day growth roadmap - Sign up for a free call here: https://www.spacebarstudios.co/

Scalepath has a network of over 2,000 business owners across the U.S. and Europe. Book a call with the CEO Rand Larsen, he will introduce you to up to 3 business owners in your area. Relationships run the world, don’t forget that. Sign up for a free call here: https://www.joinscalepath.com/

Few realize Drew and Alex of The Chainsmokers are world-class operators and disciplined investors --- with over 220 portfolio companies through their investment firm, Mantis.

In this solo deep dive, I break down the real Chainsmokers story — from sleeping on floors and running fan CRMs to building a systemized investment engine backed by General Catalyst and Mark Cuban.

Timestamps:
00:00:00 - Why This Episode Exists
00:01:54 - What Drives the Great Ones
00:04:43 - Sponsor: Scalepath
00:05:14 - Be Bad First, Then Get Good
00:07:31 - Systems Before Scale
00:10:29 - Two Questions Every Buyer Should Ask
00:14:01 - Sponsor: Spacebar Studios
00:15:14 - The Chainsmokers' Investments and Product Portfolio Today
00:19:20 - If Your Revenue Doubled Overnight, Would Your Systems Survive?
00:25:33 - Build Something Only You Can Build and Acquire
00:32:25 - People Don’t Trust People They Don’t See
00:34:58 - What It Looks Like in Year 10
00:36:35 - What Makes Long-Term Investing So Powerful: Everyone Else Burns Out
00:41:16 - Build a World, Not Just a Stack of Companies
00:47:01 - Fix the “Plumbing” Before You Scale
00:52:05 - Are You Building an Investment Firm Worth Joining?

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Subscribe on Spotify:
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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

The Chainsmokers on Twitter: https://x.com/TheChainsmokers

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

Spacebar Studios is offering your company a free 90-day growth roadmap - Sign up for a free call here: https://www.spacebarstudios.co/

Scalepath has a network of over 2,000 business owners across the U.S. and Europe. Book a call with the CEO Rand Larsen, he will introduce you to up to 3 business owners in your area. Relationships run the world, don’t forget that. Sign up for a free call here: https://www.joinscalepath.com/

Sam Mahmood is the co-founder of Pave, a holding company rolling up businesses in one of the most overlooked, unsexy, yet wildly lucrative sectors in America - paving and line striping. In just 11 months, Sam and his team have scaled to three companies doing $66M in revenue and $7M in EBITDA.

But Sam didn’t start in asphalt. He began in medical devices, building a national distribution and manufacturing business from scratch in his 20s. After taking chips off the table and stepping back, he went searching for his next billion-dollar opportunity. What he found? Line striping.

In this episode, we cover:
00:00:00 - Intro to Sam Mahmood and Pave
00:01:41 - From medical devices to rollups
00:05:22 - Sponsor: ScalePath
00:05:55 - Why Sam chose the paving industry
00:10:07 - Framework for choosing the right industry
00:13:22 - How to build an all-star advisory board
00:13:58 - Sponsor: Spacebar Studios
00:17:15 - Raising $2.5M in 30 days from retail investors
00:23:01 - Assembling the core Pave team
00:24:26 - First acquisition: D&O Contractors
00:27:15 - The thought process behind walking away from a New York deal
00:32:30 - "Do the Work" mindset and company culture
00:34:57 - 15–20 paving companies and Sam’s creative “Pave Pod” for deal flow
00:41:05 - “Confidence is two inches wide and 10 feet deep. Fear is a mile wide and an inch deep.”
00:43:13 - Second acquisition and operational strategy
00:46:46 - Why Sam turned down a $150M private equity deal
00:51:53 - Where Pave is today and what’s next
00:53:42 - Sam's “to-WHO” list vs. traditional to-do lists
00:56:10 - Sam’s favorite book and final advice

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Subscribe on Spotify:
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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Sam on Twitter: https://x.com/TheSammahmood_

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

Sponsored by Spacebar Studios (https://www.spacebarstudios.co/) – your outsourced growth engine for B2B brands
Peer Groups by ScalePath (https://www.joinscalepath.com/) – expert-led community for HoldCo builders

Guest: Alex from RollUp Europe: https://rollupeurope.beehiiv.com/

Join us for a deep dive into one of the most fascinating stories in British business. In this episode, we explore RDCP Group, a UK-based holding company that grew from a £2 million equity stake into a portfolio generating over £400 million in annual revenue—all without institutional capital.

We unpack:
00:00:00 - Intro
00:00:49 - What makes Sameer and Iryna special as operators, investors, or builders?
00:01:57 - What surprised Alex most during his research?
00:04:12 - What are the biggest philosophical differences between building a HoldCo like RDCP versus launching a fund?
00:05:03 - Sponsor: Spacebar Studios
00:07:17 - How does RDCP’s financing model differ from traditional PE-backed serial acquirers?
00:10:28 - What made the care home strategy bankable, and how did they leverage it to fund other ventures?
00:12:15 - Sponsor: Scalepath
00:13:49 - RDCP’s aspiration to become the “British Berkshire Hathaway” - realistic or PR?
00:14:30 - Does the current structure - heavily SPV-based and bank-leveraged - can evolve into a more permanent capital vehicle?
00:16:45 - What did Alex personally learn the most from this research?

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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

Follow Mikk/PrivatEquityGuy 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.

Dev Shah is the founder of Pocket Fund, a HoldCo that has acquired 7 businesses. At just 23, Dev has built a growing portfolio of newsletters, SaaS products, and mobile apps without raising a dime of outside capital. One of his first acquisitions, Sourcely.ai, made 37.5x MOIC.

Thank you to our sponsors:
Scalepath: https://www.joinscalepath.com/
Spacebar Studios: https://www.spacebarstudios.co/

In this episode, we cover:
00:00:00 - Intro
00:01:56 - Discovering acquire.com and the first acquisition
00:03:04 - Overview of Pocket Fund's portfolio and team structure
00:07:08 - Sponsor: Scalepath
00:10:08 - Building and managing a team in India to run the portfolio
00:11:03 - How he finds operators and builds systems to scale to 20+ companies
00:17:14 - His buying criteria and approach to value creation
00:17:26 - Sponsor: Spacebar Studios
00:21:52 - Deal sourcing
00:36:55 - Deep dive into his 35x MOIC case study (Sourcely.ai)
00:43:47 - How does Dev manage a portfolio of six companies
00:47:56 - Why he is rejecting VC and fund money for now
01:00:37 - Long-term vision and building a new Constellation-like model in India
01:05:24 - Hiring global talent

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Subscribe on Spotify:
https://open.spotify.com/show/6lr5bE3SNZF2uEE7Nb0DHh

Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Dev on Twitter: https://x.com/devlikesbizness

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

I sit down with Jamal Muse, a former math teacher and former Blackrock analytics professional who reinvented himself as a serial founder. He’s built and sold two brands (one for 7 figures) and is now sellling his third.

If you're building with an exit in mind — or want to learn how top operators structure their businesses to sell — this episode is a must-listen.

📧 Interested in buying Jamal’s current business? Reach out at: mikk at privatequityguy dot com
🔔 Don’t forget to subscribe for more interviews with operators, acquirers, and builders.

We cover:
00:00:00 - Intro - Meet Jamal Muse, 3-time founder with one 7-figure exit
00:01:07 - Why 50% of your earnings come at the exit, not during operations
00:03:31 - How Jamal learned to treat his business as an asset, not a baby
00:06:50 - The mindset shift behind picking the right buyer (and rejecting offers)
00:09:00 - Should you sell your business? Jamal’s take on emotional attachment
00:11:01 - Reinventing yourself: From teacher to entrepreneur to what’s next
00:19:00 - Why going public with his story was scarier than skydiving
00:22:30 - Jamal’s 3-year roadmap to build, grow, and exit a brand
00:27:00 - Common mistakes that kill exits: bad books, weak niche, messy ops
00:30:00 - Revenue vs. profit - what actually matters when selling
00:33:00 - What real buyers look for in a business (and red flags to avoid)
00:36:40 - You can dictate price or terms - but not both

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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

Follow Mikk/PrivatEquityGuy 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.

True Potential has quietly compounded at 40% CAGR for over 15 years, becoming the UK's largest private equity-backed wealth management consolidator. In this deep-dive episode, we unpack the strategy behind this incredible growth story with Alex from RollUp Europe, who authored one of the most detailed research pieces on True Potential.

🔗 Sponsored by Spacebar Studios (spacebarstudios.co) – your outsourced growth engine for B2B brands
🔗 Peer Groups by ScalePath (joinscalepath.com) – expert-led community for HoldCo builders

Learn how True Potential:

00:00:00 - Compounding at 40% for 15 years
00:00:42 - What is an IFA and why true potential stands out
00:01:33 - $500k EBITDA per employee: the aha moment 
00:02:56 - How true potential earns 70–80% EBITDA margins
00:04:18 - Sponsor: Spacebar Studios
00:05:26 - Why 90% of AUM is in in-house funds, and why that matters
00:06:50 - True potential’s small ticket M&A machine
00:08:53 - How they avoided legal liability while acquiring clients
00:10:07 - Regulatory risks of vertical integration in the UK
00:11:07 - Sponsor: Scalepath
00:12:18 - The hidden cost of selling to consumers (vs B2B)
00:14:40 - Why Cinven paid 20x EBITDA, and still won
00:16:01 - 3 key lessons from true potential’s buy-and-build success

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Subscribe on Spotify:
https://open.spotify.com/show/6lr5bE3SNZF2uEE7Nb0DHh

Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Alex from RollUp Europe: https://rollupeurope.beehiiv.com/

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

Mike Botkin went from being a real estate private equity COO to buying a small landscaping business doing $780K in revenue - with no prior experience and no money down. Just 23 months later, he sold it for millions after scaling through 6 smart acquisitions and ruthless focus.

This is one of the most tactical and inspiring HoldCo journeys you’ll hear in a long time. If you’ve ever thought about leaving your job to buy a business, this is the episode that might make you do it.

Thank you to our newest sponsors:
Scalepath: https://www.joinscalepath.com/
Spacebar Studios: https://www.spacebarstudios.co/

In this episode, we cover:
00:00:00 - Why Mike left a PE COO role to buy a $780K landscaping business
00:00:31 - “I wasn’t qualified” - Mike explains why he took the leap anyway
00:03:13 - Sponsor: ScalePath - Peer groups for HoldCos and SMB operators
00:04:30 - Burn the boats: betting everything on himself with a newborn at home
00:06:23 - How he found his first business on BizBuySell and closed in 45 days
00:08:20 - The myth of perfect deals and how Mike created his own luck
00:13:00 - Sponsor: Spacebar Studios - Growth engine for B2B PE-backed companies
00:14:10 - Why Mike fired $3M in revenue and focused only on profitable customers
00:20:12 - A reporting hack that boosted margins by cutting wasted labor time
00:22:53 - He wasn’t buying businesses, he was acquiring great people
00:26:10 - Don’t buy from tired sellers, look for mid-career owners instead
00:28:20 - Why Mike avoided SBA loans and bought 6 businesses with no debt
00:34:19 - How he raised millions without putting in a dollar of his own
00:38:55 - The exit: selling the company and why early retirement didn’t stick
00:42:50 - Starting Canvas Outdoors: replicating the model with two platforms
00:44:15 - Why maniacal focus beats portfolio diversification for HoldCos
00:50:00 - Lessons from a CEO: “Keep the main thing the main thing"
00:52:42 - Mike’s favorite book and his brutally honest best investment advice

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Subscribe on Spotify:
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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Mike on Twitter: https://x.com/MikeBotkin_

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

The $3 Billion Rollup: Inside Moonbug’s Epic Exit (with Alex Prokofjev from Rollup Europe)

What do Cocomelon, Blippi, and Little Baby Bum have in common? They were all part of one of the most impressive media rollups in history: Moonbug Entertainment — a business that scaled from 0 to $100M EBITDA in under four years and exited for $3 billion to Candle Media (backed by Blackstone).

Thank you to our newest sponsors:
Scalepath: https://www.joinscalepath.com/
Spacebar Studios: https://www.spacebarstudios.co/

In this episode, I sit down with Alex Prokofjev, co-founder of Rollup Europe, who did a deep dive into Moonbug’s strategy. We unpack the insane deal-making, content flywheel, multi-channel monetization, and the unique cap table structure that fueled this rocketship.

We explore:
00:00:00 - Intro: The Most Fascinating Exit in Modern Media?
00:00:42 - Why Moonbug Was a Contrarian Bet in 2018
00:02:15 - Meet the Dream Team: Disney + Wildbrain + M&A
00:03:35 - How They Scaled to $3B in Just 3.5 Years
00:05:00 - Moonbug’s Playbook: Monetizing Kids' IP Across Channels
00:06:15 - Cap Table Deep Dive: 6 Share Classes & Incentive Design
00:07:30 - How Moonbug Achieved 50% EBITDA Margins Across 30 Brands
00:09:00 - Little Baby Bum: The $90M Deal That Changed Everything
00:13:00 - Moonbug’s Exit to Candle Media: Was $3B Worth It?
00:16:00 - Why Moonbug Hasn’t Been Copied (Successfully)
00:17:20 - The Legal Battles & Risks Behind the Scenes
00:19:35 - Founders’ Payday: Who Made How Much in the Exit?
00:20:30 - Top 3 Lessons for Today’s Rollup Operators

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Subscribe on Spotify:
https://open.spotify.com/show/6lr5bE3SNZF2uEE7Nb0DHh

Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Alex from RollUp Europe: https://rollupeurope.beehiiv.com/

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

In this episode of HoldCo Builders, I sit down with Jude Goodrick, Head of Capital Markets at Mainshares—a fast-growing platform that's quietly reshaping small business acquisitions.

Mainshares helps acquisition entrepreneurs find the capital they need to buy real, cash-flowing businesses. Jude has seen hundreds of deals and works directly with operators and investors to get them across the finish line.

Thank you to our newest sponsors:
Scalepath: https://www.joinscalepath.com/
Spacebar Studios: https://www.spacebarstudios.co/

In This Episode We Discuss:
00:00:00 - Intro: Why Jude Goodrick is at the center of SMB acquisitions
00:00:42 - Jude's background and journey from Carta to Mainshares
00:01:36 - The origin story of Mainshares and what problem it solves
00:03:09 - Solving the chicken-and-egg problem of deals vs. capital
00:04:39 - Sponsor: Scalepath
00:06:47 - Feedback from having 800 conversations with operators
00:07:59 - First acquisition took about a year
00:08:48 - How Mainshares makes money and structures deals
00:13:35 - Sponsor: Spacebar Studios
00:17:31 - A common reason operators come to them
00:19:47 - Why Mainshares isn't building a traditional PE firm
00:23:32 - Could Mainshares build a permanent HoldCo?
00:24:58 - Investor experience on the Mainshares platform
00:32:12 - What happens when a deal is oversubscribed?
00:36:10 - Post-acquisition support: credit lines, equipment loans
00:38:21 - Who are the operators? First-timers vs. seasoned pros
00:40:35 - MBA vs. blue-collar operators: who performs better?
00:43:17 - What happens when things go wrong post-acquisition?
00:45:00 - Structuring preferred equity and step-ups
00:48:40 - Jude’s advice to aspiring acquisition entrepreneurs
00:51:35 - What separates great operators from average ones
00:57:29 - What Jude enjoys most - and least - about his role
00:59:20 - Would Jude ever buy a business himself?

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Subscribe on Spotify:
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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Judd on Twitter: ⁠⁠⁠https://x.com/judd_goodrich

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

Is this the most underappreciated rollup in Europe?

In this episode, we dive deep into HomeServe — the unsexy plumbing and HVAC company that quietly evolved into a $2B revenue giant and was eventually acquired by Brookfield for $6B. But this isn't just a story about boilers and leaky taps.

Joining us is Alex Prokofjev, co-founder of RollUp Europe.

Whether you're an operator, investor, or aspiring acquisition entrepreneur, this episode is packed with strategic insights on rollups, recurring revenue, and scaling services with a subscription twist.

Thank you to our newest sponsor:
Spacebar Studios: https://www.spacebarstudios.co/

We explore:
00:00:00 - The most underappreciated Rollup in Europe?
00:00:51 - How HomeServe evolved into a vertically integrated insurance broker
00:01:45 - The business model failed not once but twice
00:03:31 - Two powerful lessons for pperators: Fintech revenue and iterating beyond your first idea
00:04:40 - Great timing
00:05:57 - Why HVAC became HomeServe’s rollup goldmine: high-trust, high-margin, mission-critical customer moments
00:07:37 - Sponsor: Spacebar Studios
00:08:40 - Buying small businesses with attractive multiples
00:07:15 - How HomeServe Justified Higher Acquisition Multiples
00:10:04 - Why public market investor give up on HomeServe
00:12:40 - The Brookfield playbook Post-Acquisition: Breaking up the business and doubling down on HVAC rollups in Europe
00:14:03 - Biggest takeaway: Be ready to pivot your entire business
00:15:15 - Running a mission critical requrring revenue business
00:16:26 - Similar strategies on different verticals

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Subscribe on Spotify:
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Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/holdco-builders/id1695713724

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

Alex from RollUp Europe: https://rollupeurope.beehiiv.com/

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