The M&A Zing

This week on The M&A Zing, Gareth sits down with Jenna Hill, founder of FIA Investments, to explore how she built a thriving portfolio of Northern Irish small businesses, all without prior industry experience or upfront capital.

Jenna’s story isn’t just about deal-making, it’s about preserving local legacies, protecting jobs, and inspiring a new generation of acquirers to do the same.

👉 What you’ll learn:
• How to buy a business with no money down
• The systems behind Jenna’s seven-company portfolio
• The mindset shift from employee to owner
• Why local economies thrive when small firms stay independent
• How FIA Investments helps others replicate the model

🕒 Timestamps

[00:13] – Welcome 
[01:02] – Jenna’s journey from first acquisition to seven businesses
[02:18] – How she started buying companies with no cash down
[03:44] – The philosophy behind “keeping legacies alive”
[05:15] – Creating employment and local impact through acquisition
[06:48] – Lessons from running a salon, barbershop & plumbing company without technical qualifications
[08:02] – What FIA Investments looks for in small business acquisitions
[09:33] – Training others to buy businesses with the Business Buying Blueprint
[11:10] – The rise of small business acquisition as a career path
[12:47] – Common fears new acquirers have — and how to overcome them
[14:28] – How to build relationships with sellers and win trust
[16:05] – Why traditional education doesn’t prepare people for SME ownership
[17:42] – Balancing business growth with health, family and purpose
[19:08] – The Small Business Fanatics app & community
[20:55] – Creating a movement of new SME owners across Northern Ireland and beyond
[22:31] – What’s next for FIA Investments
[23:10] – Where to learn more and connect with Jenna

🧭 Mentioned in this episode:
• FIA Investments — www.fiainvestments.co.uk
• Business Buying Blueprint 
• Small Business Fanatics Pod - https://open.spotify.com/show/0UFadFilLJpD196qDAxWWI

📺 Watch the video version on YouTube
💬 Join the conversation on LinkedIn with #MAZing
💻 Find your own deals with BizCrunch www.bizcrunch.co

 #AcquisitionEntrepreneurship #BizCrunch

Alexander Kalis has sat on every side of the investment table: from Rothschild and Santander hedge fund management, to running a $1bn global asset manager, to backing Oxford spinouts that produced unicorns (and even the AstraZeneca COVID-19 vaccine).

Now he’s turned his attention to ETA and SME buyouts. Through Archimax and the tongue-in-cheek B.O.R.I.N.G. Investment Club (Buyouts of Resilient Income-Generating businesses), Alexander is building an investor community to bridge the equity gap in small-cap buyouts.

In this episode, Gareth and Alexander cover:

How his VC disillusionment pushed him toward SME buyouts

Why “boring is beautiful” when it comes to cashflow resilience

The equity gap in UK/EU search funds — and how co-investment clubs can solve it

Lessons from running a global fund, and what translates to ETA diligence

What makes a great searcher worth backing (grit, transparency & vision)

How diversification works differently in ETA vs VC

Why institutions haven’t yet caught up with this overlooked asset class

If you’re a searcher, operator, or investor interested in ETA and SME acquisitions, this is an insider’s perspective you don’t want to miss.

⏱️ Timestamps

[00:13] Welcome & guest intro – Gareth introduces Alexander Kalis

[01:20] Alexander’s background – from UBS to Rothschild & Santander

[05:33] Lessons from the hedge fund years & the Madoff crisis

[07:20] Entrepreneurial leap – building & selling a due diligence firm

[08:50] Trust International: $1bn AUM, global VC & impact investing

[11:00] Backing Oxford spinouts (including the AstraZeneca vaccine)

[13:45] Why he moved from VC to ETA & SME buyouts

[16:10] The equity gap in ETA – where traditional models fall short

[18:30] Archimax & the B.O.R.I.N.G. Investment Club explained

[22:45] “Boring is beautiful” – why sticky, resilient SMEs win

[27:20] How the co-investment club works (structure, SPVs, LPs)

[31:30] What he looks for in searchers: grit, vision & people skills

[36:00] Sector focus & European opportunities

[40:00] Advice to acquisition entrepreneurs on investor relations

[43:20] The investor angle – diversification & 30% IRR potential

[47:00] What’s next for Archimax & BORING in the next 12 months

[51:00] Closing thoughts, links & where to find Alexander

🔗 Links & Resources

Archimax: https://archimax.solutions

Alexander on LinkedIn:   / alexanderkalis 

BizCrunch: https://www.bizcrunch.co

From vaccine research at Harvard, to AstraZeneca BD, to running a £50m book, and now a traditional, healthcare-only search. Robert Shore (Shorefox Partners) unpacks mid-career ETA, how science habits translate to sourcing, why “AI-proof” is now a diligence pillar, and the gritty reality of brokered vs proprietary deal flow.

In this episode:

- Why a mid-career, sector-specialist traditional search (and not self-funded)

- Translating lab skills to ETA: hypothesis → test → iterate

- The three-leg diligence stool: recurring revenue, growth engine, AI risk

- Health-care niches with regulatory moats vs data-rich, easily automated targets

- Fundraising: building the cap table, reps before “A-list” investors

- Broker networks, proprietary angles, and pacing the journey


Timestamps:

[00:13] Welcome
[00:20] What this show’s about & who it’s for
[00:29] Guest intro: Robert Shore, Shawfox Partners
[01:00] Mid-career searcher, healthcare focus & background
[02:40] From engineering → PhD/Harvard → Wall St. → AstraZeneca → FO PM
[06:58] Why an MBA; moving from science to finance and BD
[09:45] Traditional search vs self-funded: choosing the structure
[12:12] Sector thesis: defensive healthcare + regulatory moats
[15:55] AI as diligence pillar: what’s automatable, what isn’t
[19:10] Fundraise playbook: do reps, then pitch your A-list
[21:18] Solo vs partner searches; what investors really prefer
[24:30] ROI on time, legacy, and adapting across careers
[28:42] Health-care targets that don’t fit (and why)
[31:12] Early search challenges: broker coverage & proprietary sourcing
[34:40] Quality vs quantity in outreach (and when that flips)
[38:46] Iteration under fire: plan → fail → refine in search
[42:41] Where Robert wants to be 12 months from now
[46:05] Closing & how to connect

Links & resources:

Shorefox Partners
https://www.shorefoxpartners.com/

Robert Shaw
https://www.linkedin.com/in/shoremail/

BizCrunch - end-to-end platform for SMB succession M&A
https://www.bizcrunch.co/

A live keynote from Al Zucker on why UK/EU SMB M&A is hitting an inflection point: the seller wave, VC’s post-ZIRP reset, operator-led deals, and pragmatic capital stacks (FOs, private credit, small-cap PE). Real talk, data, and operator takeaways.

What to expect 👇

- Why resilient UK SMBs are coming to market now (succession + policy + macro).

- Venture’s changing math: dispersion, slower DPI, and the funding knock-on.

- Operators → owners: why CFOs/ops leaders are moving into ETA/indie sponsor models.

- Capital options that actually clear: family offices, asset-backed & cash-flow lenders, small-cap PE (with caveats).

- No one-size-fits-all: creativity in structure is a feature, not a bug.

- Culture shift: less hype, more custodianship; sensible prices for real cash flow.


Time Stamps:

[00:10] Host intro → Al Zucker 
[00:28] Al’s path: big-cap M&A → VC-backed roll-up → restructure → bootstrap search
[01:26] Deals done, exits, bolt-ons + legal consultancy: vantage point across the ecosystem
[02:36] “Coming of age”: framing by constituencies & problems to solve
[03:25] Search fund momentum: headline counts & recent surge
[04:10] Seller archetypes (succession, lifestyle, liquidity)
[06:59] What they share: Thatcher-era reforms & the SME boom
[08:21] Company counts, self-employment, jobs/turnover: long-run shift
[10:00] From Big Bang → GFC → ZIRP → 2020s shocks: building resilience
[11:15] Two worlds: real-economy builders vs VC/PE wealth effects
[13:05] Why venture got harder (rates up);
[13:50] Ukraine war anecdote: fundraises freeze, restructurings follow
[15:04] Data points: performance dispersion (McKinsey) & slow DPI (Carta)
[17:20] AI exception aside, early-stage funding is tighter
[17:43] Operators pivot: CFO/ops talent moving to ownership
[19:19] Not an MBA caricature: credible operators with track records
[19:38] The obvious match: owners seeking succession × operator-buyers
[20:03] Even PE folks pivot to facilitate operator buyouts
[21:01] Why this is the moment for ETA/indie sponsors
[22:08] Capital stacks: FOs, asset/cash-flow lenders, small-cap PE (PPG caution)
[24:21] The future: creativity over templates; every balance sheet is different
[25:32] Ethos & energy: less hype, more custodianship; special situations exist
[27:13] Big-4 view: ecosystem just forming; a BBC-style model could emerge
[27:55] From pub meetups to packed venues in 18 months
[28:22] Close & Q&A invite

🎯 Try BizCrunch for off and on-market deal flow: www.bizcrunch.co

🧠  Test our AI-ready VDR (want a quick tour? Drop us a message!)

💬 Join the community: https://community.bizcrunch.co/home

This week: We break down on-market vs off-market search for UK SMB M&A—what moves faster, where value hides, and how to avoid deal fatigue. We map buyer types, typical multiples, and the “Goldilocks” broker zone. Net-net: the winners run blended pipelines (brokers + proprietary outreach) and keep momentum across multiple live threads.

We cover:

✅ Why a blended pipeline outperforms single-channel searches

✅ Speed vs value: on-market tends to be quicker; off-market can price better but needs more diligence & seller education

✅ Broker landscape: factory-style listings ↔️ micromanagers ↔️ pragmatic “light-touch” independents

✅ Bidding dynamics, retrading risk & how exit-readiness changes outcomes

✅ Typical multiple bands (UK lower-mid market) and why structure shifts as deal size rises

✅ Practical cadence: why conversations can start in months, but closing still often takes ~12 months

Visual referenced in the episode 👇

Sourcing matrix (buyer types, channels, multiples, timelines):

https://docs.google.com/spreadsheets/d/15aiqSW6hBbRSFR7Q_Koy2BzURPZ_BaEMIRClHNX_Egg/edit?usp=sharing

Timestamps:

00:13] – Welcome

[01:01] – Today’s topic: on-market vs off-market for UK SMB M&A

[01:37] – Why diversified deal flow beats single-channel searches

[02:23] – Proprietary vs brokered: where each shines (and stalls)

[03:25] – “Blended search” takeaways from the symposium panel

[04:26] – Buyer strata & deal sizes: seeing the whole board

[05:07] – The sourcing matrix (for YouTube viewers; link in notes)

[05:20] – Multiples climb with size; public comps & “15x” yardstick

[07:28] – The conveyor-belt logic: buy at 3–6x, sell at 6–8x

[08:39] – How deal structure shifts: contingency → cash up-front

[09:48] – Marketplaces vs brokers: what they’re good for (and not)

[11:02] – Reality check: how long this really takes

[11:06] – Why on-market can move faster (IMs, data rooms, coaching)

[12:52] – The trade: speed vs price (on- vs off-market)

[13:17] – Exit-readiness, lender fit & keeping negotiations practical

[14:52] – Broker types: factory, micromanager, and “Goldilocks”

[16:58] – Deal fatigue: how processes stall (and how to protect pace)

[20:24] – The pragmatic middle: momentum over grandstanding

[21:07] – Goldilocks zone = better throughput, fewer dead deals

[22:42] – How to evaluate brokers & set expectations

[22:59] – Why many buyers grow frustrated with listed deal quality

[23:39] – Off-market advantage: frank, seller-led conversations

[24:47] – Choosing your path: who should focus where (and why)

[25:56] – The competition problem: concentrated “good” on-market deals

[27:15] – Bidding wars & retrade risk: what actually happens

[28:01] – Sellers: why exit-readiness can create a bidding premium

[28:26] – But beware: toppy heads that unwind in DD

[29:50] – Recap & the one big rule: don’t go single-channel

[30:09] – Tactics: broker panels, buy-side advisors & automations

[31:51] – Keep the pipeline alive—right up to completion

[32:41] – Best practice: off-market + Seller Verified in parallel

[32:53] – Closing, community invite & product updates (VDR + listings)

🎯 Try Seller Verified Listings alongside your off-market search (live next week!)

🧠 See our AI-ready VDR — want a quick tour? Drop us a message.

💬 Join the community: share your experience with on- vs off-market deals; we’ll cover top questions in a future episode.

In this special episode of M&A Zing, Alfie and Gareth dive into the future of SMB M&A in the UK and Europe. From the latest deal trends and the rise of search funds, to shifts in lending and the impact of AI tools, they map out what 2025 could mean for acquisition entrepreneurs, search funders, and holdco builders.

You’ll hear about:

✅ Consolidation in M&A tools and lenders
✅ Why SMBs now account for 88% of M&A Activity in the UK
✅ The surge of academic ETA programs at schools like LBS and INSEAD
✅ New funding dynamics and how searchers can stand out
✅ Tax and regulatory changes influencing exits
✅ Sector hotspots: care, nurseries, renewables, accountancy, and more


Timestamps 👇

[00:13] Welcome back & intro with Gareth
[01:19] Market mood: activity staying strong through summer
[02:19] Consolidation in M&A tools and lenders
[03:35] High street banks re-entering SMB lending
[04:44] Surge in UK SMB deals (88% of transactions in H1 2025)
[06:34] Why the mid-market is driving activity
[07:38] The US vs UK deal landscape
[08:59] The role of acquisition entrepreneurs in scaling SMEs
[09:47] Growth of ETA education in Europe (LBS, INSEAD, Erasmus)
[12:15] Family offices and LP funding dynamics
[15:14] Institutional investors & need for high-profile exits
[17:33] Challenges for traditional searchers vs. experienced entrepreneurs
[21:20] Larger search phases, more investors per fund
[25:25] How searchers can stand out: experience, sourcing, and bias for action
[33:19] AI and tech reshaping sourcing & diligence
[38:29] Demographic drivers & tax changes accelerating exits
[43:10] Rise of Employee Ownership Trusts (EOTs) in the UK
[47:25] Sector outlook: care, nurseries, renewables, accountancy
[53:37] Why the opportunity remains huge for acquirers
[55:15] New BizCrunch features: Seller Verified Listings & Virtual Data Room
[58:01] Building a modern, AI-ready data room
[59:00] Closing thoughts: keep on crunching


👉 Want to see these trends in action? Explore live Seller Verified Listings or try BizCrunch’s off-market search today: www.bizcrunch.co


Sources 📝

LBS: Entrepreneurship Through Acquisition
https://www.london.edu/faculty-and-research/institute-of-entrepreneurship-and-private-capital/opportunities-and-resources/entrepreneurship-through-acquisition

IESE: International Search Funds–2022
https://www.iese.edu/media/research/pdfs/ST-0629-E.pdf

Poets&Quants: ETAs as MBAs’ Pathway
https://poetsandquants.com/2024/10/28/entrepreneurship-through-acquisition-mbas-pathway-to-business-ownership-growth/

Yale SOM: Reference Guide on European Search Funds
https://som.yale.edu/sites/default/files/2025-04/A%20Reference%20Guide%20on%20European%20Search%20Funds.pdf

DueDilio: 2025 Guide to Deal Sourcing Tools & Platforms
https://www.duedilio.com/deal-sourcing-tools-platforms-2025/

Stanford GSB: 2024 Search Fund Study
https://www.onetoonefunds.com/wp-content/uploads/sites/11/2024/10/2024_Search-Fund-Study_Selected-Observations_Stanford-GSB.pdf

Guardian: Private equity & UK essential services
https://www.theguardian.com/business/2023/aug/04/golden-goose-why-private-equity-is-eyeing-up-uk-essential-services

Nursery Management Today: Why investors buy nurseries
https://nmt-magazine.co.uk/feature/why-investors-buy-nurseries/

Dentons: Energy M&A
https://www.dentons.com/en/find-your-dentons-team/industry-sectors/energy/energy-trading-marketing-and-derivatives/energy-mergers-and-acquisitions

Farrer & Co: M&A trends in 2025: accountancy firms
https://www.farrer.co.uk/news-and-insights/ma-trends-in-2025-accountancy-firms-represent-attractive-targets-for-private-capital-investment/

In this week’s Buy Side Breakdown, Alfie is joined by colleague Toby Johnson to assess a logistics and transport company currently listed for sale in North West England.

The business has three distinct revenue streams: professional driver training, haulage operations, and pallet storage; with a reported £2.5m turnover and £700k gross profit. The asking price is £1m plus fleet, plant, and equipment, raising questions about valuation, cash flow, and deal structure.

Topics covered include:

How to interpret gross vs. net profit in listings

Why excluding assets from the asking price raises red flags

The impact of industry dynamics: driver shortages, turnover, and mandatory training

Value (and risks) of diversification across training, haulage, and warehousing

Family-run businesses, succession, and owner-dependence

Possible deal structures: asset-backed lending, NAV-based deals, and earnouts

Operational questions: staff retention, accreditations, systems, and scalability

Expansion potential in training (digitisation, college partnerships, repeat certifications)

Ultimately, both Alfie and Toby conclude this listing raises more questions than answers, band without clearer financials, they’d call it a pass.

Listing link: https://uk.businessesforsale.com/uk/driver-training-transport-haulage-storage-warehousing-for-sale.aspx

⏱ Timestamps

[00:12] Introduction & Toby joins as guest host
[01:28] Overview of the business: driver training, haulage, storage
[02:14] Asking price, turnover and gross profit headline numbers
[03:29] Industry averages, gross vs. net profit questions
[04:08] Assets excluded from asking price — a red flag?
[05:52] Revenue mix: training vs. haulage vs. storage
[07:05] Haulage accounts for £1.8m turnover; is training/storage meaningful?
[08:18] UK driver shortage, COVID impact & training school value
[09:22] Driver turnover, wages and industry challenges
[11:12] Repeat training requirements & recurring revenue opportunity
[12:22] Staff, capacity, and scalability of the training school
[13:38] Full complement of staff, what does that mean?
[14:38] Family-run, 15-year track record & industry accreditations
[15:36] Staff retention, owner knowledge, and succession risks
[17:52] Deal structure ideas: NAV, asset-backed lending, goodwill premium
[20:25] Overheads, staff, and true net profit questions
[21:20] Multiples, asset values, and valuation concerns
[22:25] Back office systems, regulatory complexity, and efficiency
[23:34] Expansion opportunities in training and digitisation
[24:36] Family business dynamics & local goodwill risks
[25:27] Why no family succession? Red flag on true profitability
[27:02] Who this business might suit (roll-ups, industry insiders)
[27:32] Scalability questions - training utilisation & warehousing
[28:23] Conclusion - Buy or Pass?
[29:56] Toby: Pass; Alfie: Pass (pending more info)
[31:18] Final thoughts, community call, and event plug

💬 Join the BizCrunch community to discuss live deals and swap insights with fellow acquirers: https://www.bizcrunch.co/community

📚 Explore more resources on SMB M&A and off-market sourcing at www.bizcrunch.co

ETA Awards: https://www.geraldedelman.com/events/eta-awards-2025-2/

In this special solo edition of M&A Zing, Alfie dives deep into one of the most misunderstood parts of the acquisition process: outreach.

Finding companies to buy is only the start, earning conversations with owners is what turns research into real opportunities. In this episode, you’ll learn both the manual way to run cold outreach and the modern tools that simplify the process.

Covered in this episode:

- Why outreach matters more than just building lists
- The building blocks of a good target list (manual vs. tools)
- How to set up new domains, DNS records, and inbox warm-ups properly
- Writing cold emails that actually get replies (the “Why them, Why now, What you want” framework)
- Why follow-ups and letters often make the difference with retiring owners
- Tools for sending campaigns manually or at scale
- Legal and ethical considerations of B2B outreach under GDPR
- How BizCrunch takes care of the technical setup so you can focus on conversations

Whether you’re sending your very first cold email or refining a professionalised search process, this episode gives you a field guide to doing outreach the right way.

Timestamps:

[00:13] Welcome & why a solo outreach deep dive
[01:35] Using timestamps; tailoring to experience levels
[02:49] Why outreach matters in acquisitions
[03:07] Finding companies vs earning owner conversations
[04:01] Rising competition (ETA) & the off‑market edge
[04:25] Step 1: list building
[05:17] Define precise criteria (rev/sector/geo/owner profile)
[06:02] Free sources: Companies House, Google, associations
[07:07] Cleaning data & finding decision‑maker emails
[07:25] Tooling spectrum: manual ↔ premium databases ↔ BizCrunch
[08:22] Middle ground: credit tools & trade‑offs
[10:01] Your list quality drives campaign performance
[10:20] Don’t blast from personal inbox; blacklisting risk
[10:39] Setup: new domain & dedicated inboxes
[11:05] DNS essentials: SPF, DKIM, DMARC
[15:28] Inbox warm‑up: tools, timing, deliverability
[18:49] Writing emails that get replies (plain‑text, concise)
[19:14] Framework: Why them / Why now / What you want (+ Who you are)
[22:07] Example first email to an owner
[23:19] Follow‑ups & letters; sequencing that works
[24:56] Staying top‑of‑mind; multiple touches
[25:34] Sending options: manual, Gmail mail‑merge, platforms
[27:29] Platforms & tracking; when integrated tools help
[29:13] Letters + email = effective combo (retiring owners)
[30:14] Legal: GDPR + PECR for B2B outreach
[31:27] Avoid personal emails & PSC/home addresses
[33:07] BizCrunch demo: filters → insights → list → campaign
[35:52] You focus on copy; tech handled for you
[36:12] Recap: outreach process in a nutshell
[36:29] Outro & how to connect


Join our community of acquirers and searchers to share outreach:
https://www.bizcrunch.co/community

Learn about DNS:
https://www.cloudflare.com/en-gb/learning/dns/what-is-dns/

Gmail & Sheets Mail Merge:
https://developers.google.com/apps-script/samples/automations/mail-merge

Connect with Alfie:
https://www.linkedin.com/in/alfie-lambert/

In this special solo edition of M&A Zing, Alfie dives deep into one of the most misunderstood parts of the acquisition process: outreach.

Finding companies to buy is only the start, earning conversations with owners is what turns research into real opportunities. In this episode, you’ll learn both the manual way to run cold outreach and the modern tools that simplify the process.

Covered in this episode:

- Why outreach matters more than just building lists

- The building blocks of a good target list (manual vs. tools)

- How to set up new domains, DNS records, and inbox warm-ups properly

- Writing cold emails that actually get replies (the “Why them, Why now, What you want” framework)

- Why follow-ups and letters often make the difference with retiring owners

- Tools for sending campaigns manually or at scale

- Legal and ethical considerations of B2B outreach under GDPR

- How BizCrunch takes care of the technical setup so you can focus on conversations

Whether you’re sending your very first cold email or refining a professionalised search process, this episode gives you a field guide to doing outreach the right way.

Timestamps:

[00:13] Welcome & why a solo outreach deep dive

[01:35] Using timestamps; tailoring to experience levels

[02:49] Why outreach matters in acquisitions

[03:07] Finding companies vs earning owner conversations

[04:01] Rising competition (ETA) & the off‑market edge

[04:25] Step 1: list building

[05:17] Define precise criteria (rev/sector/geo/owner profile)

[06:02] Free sources: Companies House, Google, associations

[07:07] Cleaning data & finding decision‑maker emails

[07:25] Tooling spectrum: manual ↔ premium databases ↔ BizCrunch

[08:22] Middle ground: credit tools & trade‑offs

[10:01] Your list quality drives campaign performance

[10:20] Don’t blast from personal inbox; blacklisting risk

[10:39] Setup: new domain & dedicated inboxes

[11:05] DNS essentials: SPF, DKIM, DMARC

[15:28] Inbox warm‑up: tools, timing, deliverability

[18:49] Writing emails that get replies (plain‑text, concise)

[19:14] Framework: Why them / Why now / What you want (+ Who you are)

[22:07] Example first email to an owner

[23:19] Follow‑ups & letters; sequencing that works

[24:56] Staying top‑of‑mind; multiple touches

[25:34] Sending options: manual, Gmail mail‑merge, platforms

[27:29] Platforms & tracking; when integrated tools help

[29:13] Letters + email = effective combo (retiring owners)

[30:14] Legal: GDPR + PECR for B2B outreach

[31:27] Avoid personal emails & PSC/home addresses

[33:07] BizCrunch demo: filters → insights → list → campaign

[35:52] You focus on copy; tech handled for you

[36:12] Recap: outreach process in a nutshell

[36:29] Outro & how to connect

Join our community of acquirers and searchers to share outreach:

https://www.bizcrunch.co/community

Learn about DNS:

https://www.cloudflare.com/en-gb/learning/dns/what-is-dns/

Gmail & Sheets Mail Merge:

https://developers.google.com/apps-script/samples/automations/mail-merge

Connect with Alfie:

https://www.linkedin.com/in/alfie-lambert/

This week on M&A Zing, Gareth sits down with Jan-Marc Pickhan, a serial acquirer who has built three engineering groups - Allied Global Engineering, GE Engineering, and Suffolk ES Solutions - comprising five companies across the North West and West Midlands.

Jan-Marc’s journey took him from a decade-long corporate career at Schneider Electric in Germany, Switzerland, and France to relocating to the UK to oversee and grow mature owner-led engineering businesses. He discusses:

👉 Cultural transformation: moving from closed, owner-led environments to open, transparent, trust-based workplaces.

👉 Tackling “tribal knowledge” and undocumented processes that threaten operational continuity.

👉 Applying German precision and British grit to leadership - direct, transparent, but adaptable.

👉 Leveraging technology and AI tools (including Microsoft Copilot) to solve problems, speed up processes, and cut costs.

👉  Navigating the skilled labour shortage in UK manufacturing and the need to invest in training pipelines.

👉 The reality of post-acquisition transformation: restructuring, bottleneck removal, and strategic automation.

👉 Why getting hands-on in every role post-acquisition accelerates understanding and builds credibility with teams.

If you’re considering acquiring a traditional SME—particularly in engineering—this episode offers candid insights into the challenges and opportunities of transforming these businesses for the future.

Timestamps
[00:00] Introduction to Jan-Marc Pickhan and his acquisition journey
[01:23] From Schneider Electric to UK SME ownership
[03:31] Overview of the three engineering groups acquired
[05:09] Leadership style – German precision meets British grit
[06:50] Building a culture of openness and trust
[09:04] Fixing owner-led, “tribal knowledge” businesses
[11:44] Common bottlenecks in back-office and production
[14:27] Why engineering SMEs? The undervalued backbone of UK industry
[17:20] Seller profiles and succession realities
[19:02] Buying transformation opportunities vs. turnkey businesses
[20:17] The ongoing journey of transformation
[22:30] Engineering at a crossroads – traditional vs. transformative
[26:06] Adopting AI tools like Microsoft Copilot in manufacturing
[31:29] Skilled labour shortages and recruitment challenges
[36:44] Advice to past self: directors should work in the business early
[40:39] Immersive leadership – learning from the shop floor
[44:33] Cultivating continuous improvement from within
[45:21] Goals for the next 12 months – automation and efficiency
[46:13] How to connect with Jan-Marc and his message for sellers

Useful Links & Resources:

Connect with Jan-Marc Pickhan on LinkedIn
https://www.linkedin.com/in/janmarcpickhan

Join the BizCrunch Acquisition Community
https://www.bizcrunch.co/community