
How I Bought 5 Businesses After Failing My First Acquisition
HoldCo Builders
Outro
Mikk and Steve wrap up with book recommendations and closing remarks.
Steve Lawrence, the founder of Uncomplicated Group went from middle management at a $14B manufacturer to buying five businesses in a few short years -- now running two injection-molding factories, employing 45 people, and shipping 200M parts a year.
But this episode isn’t about the highlight reel. It’s about the real path: quitting his job for a deal that collapsed at the finish line, burning cash on diligence, watching funding evaporate, and learning what “the seller isn’t emotionally ready” actually means -- when the mortgage clock is ticking.
We dig into how Steve rebuilt his deal process from scratch, how he sold himself with zero acquisition track record, the red flags he now screens for, and the operating system (EOS) that changed everything post-close.
TIMESTAMPS
0:00 From corporate manager to 5 acquisitions in manufacturing
1:06 The moment Steve knew he was done with corporate life
2:54 The “measured exit” that turned into months of uncertainty
4:59 The first deal: tiny business, bad structure, and a lucky failure
5:42 The seller starts ghosting -- and the deal unravels
7:01 Losing the deal, burning cash, and rebuilding his entire approach
8:57 Why most people shouldn’t pursue acquisitions (the “strong why” test)
9:55 Sponsor: CapitalPad -- backing real operators in overlooked markets
11:06 How to tell if a seller is actually ready to sell
14:02 The exact outreach message that landed his first acquisition
19:04 Structuring and closing the first deal + brutal first 90 days
20:57 Sponsor: Spacebar Studios — building newsletters for HoldCos & investors
23:18 Implementing EOS: turning chaos into an operating system
39:45 80/20 thinking in manufacturing: cutting noise, expanding margins
Sponsors:
https://capitalpad.com/
https://www.spacebarstudios.co/inquire
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This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.


