Today’s guest is Nick Huber, founder and owner of Bolt Storage and current CEO of Somewhere.com, a worldwide staffing business acquired in 2024.
Nick joins Peter to discuss the formative acquisitions across his entrepreneurial journey – from growing a distressed storage portfolio into 60+ properties, to the $52M acquisition of worldwide remote staffing firm, Somewhere.com. They cover his transition from operator to acquirer and back to CEO, capital structuring tactics, and why he bet so big on Somewhere.com.
On top of it all, Nick found time to publish his book, The Sweaty Startup, and offers key insights from the book and why he wrote it.
Nick’s first storage buildout in 2015 and the pivot to acquisitionsA turning point deal: buying a mismanaged Erie, PA portfolio at public auctionTransitioning from scrappy operations to managing a global teamBuilding out a PE-backed acquisition engine for Bolt StorageUnderwriting and managing 62 storage acquisitions with global remote staffWhy Nick slowed down storage deals after the 2022 interest rate spikeThe story behind acquiring Somewhere.com for $52MBreaking down the deal structure and equity incentivesRebuilding operations post-acquisition: new hires, new brand, new funnelWhy South Africa became central to Somewhere.com Transforming sales and recruiting teams using global talentWhich industries are adopting global hiring (law, construction, SaaS, architecture)Why AI is not replacing Somewhere.com’s business model anytime soonLessons from raising outside capital and the pressure that comes with itThe overlap between operating and authoring The Sweaty StartupMasters in Small Business M&A (sign up for podcast drops here) is produced by its host, Peter Lehrman, and the team at Axial (www.axial.com).
Axial helps qualified business owners confidentially explore growth capital and exit transactions with top-ranked M&A advisors and professional capital partners in the lower middle market. The podcast seeks to explore the dynamic world of small business M&A, interviewing a mix of proven and emerging owners, operators, acquirers, and M&A advisors whose strategies and methods are being put to the test.
If you’d like to go deeper, head to Axial.com, where we make available the Axial member directories, downloadable tools for dealmakers, the Axial quarterly lower middle market investment banking league-table rankings, the SMB M&A pipeline report, and other useful information. If you’re a business owner, professional acquirer, or M&A advisor, you can start using Axial for free at Axial.com.
Peter Lehrman LinkedInPeter Lehrman XNick Huber WebsiteNick Huber LinkedInNick Huber XThe Sweaty Startup BookSweaty StartupBolt StorageSomewhere.comRE Cost SegAdRhinoSpidexx Pest ControlBoldSEOTitan RiskBolt Builders