Buying a Bankrupt 117-Year-Old Manufacturer
Acquiring Minds
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Strategic Acquisition of a Bankrupt Manufacturing Company
This chapter delves into the strategic approach taken to acquire a bankrupt 117-year-old manufacturer by strategically calculating a bid amount based on the business's assets, acquiring it 10% above estimated winding down cost. It discusses challenges faced post-acquisition, including implementing new systems, revenue loss, COVID lockdowns, and unexpected moving costs, highlighting the complexities of the transition period. The chapter also explores the resilience and adaptability of the business in the face of market challenges and the mitigation of key man risk by training multiple individuals in critical tasks.
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