I spoke with Dave Gilbert, a holding company operator who bought two different businesses over the last two years with his partner. First they bought an accounting service for $2.8 million (Note: $3.8m was mentioned during the episode, but $2.8m is the correct figure). Dave walks us through some of the legal considerations of a non-accountant buying an accounting business, including how he expanded the services. Despite all the chaos that comes in the first year of buying a business, Dave and his partner managed to grow the business by 10%.
They also bought an engineering firm last year, and are working on finding new acquisitions. If you're interested in starting a holding company, listen to Dave's thoughtful approach to structuring deals and operating his businesses.
Thanks to Vesto for sponsoring today's episode. Visit https://vesto.com/sieva to check them out.
1:01 Starting a holding company and buying 2 businesses
3:20 A word from Vesto
4:26 Dave's previous business & exit
13:23 Buying an accounting business
24:48 Structure of the deal
33:26 How to grow a business post-close
40:10 Buying the second business
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X: https://x.com/dave__gilbert
Website: https://proven.co/
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