Acquiring a Company through an Asset Purchase: Setting Up a New Legal Entity and Employee Transition

Only after taking a second look at a small wedding catering & venue business did Nick Patrick recognize an opportunity. 

Topics in Nick’s interview:

• Buying a business that checked only one box
• Getting past major key person risk
• Nick's fear of lacking operational experience
• Acquiring without an SBA loan or investors
• Learning to lead and handle conflict
• Operational intensity of a wedding catering business
• Cash flow advantages due to up-front deposits
• Improvements he made to the business
• Realizing he won’t be able double business
• Selling the business for a healthy profit

References and how to contact Nick:

• Nick's Linktree: http://linktr.ee/nick.patrick
• Invest Like the Best

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact mark@aspenhr.com or visit Aspen HR

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter