Mastering Working Capital in Acquisitions

In February of 2024, after a self-funded search, Nick Wheeler took the helm at NSCA & Tra-Cal, an enduringly profitable small business that’s been serving the electronics, manufacturing, and telecom industries since 1988. In this episode, he reflects on his entrepreneurship through acquisition journey to-date, with a particular focus on his experience of “drinking from the firehose” during his first months as CEO. Nick shares the pain of broken deals during the search process; what appealed to him about NSCA & Tra-Cal, including those specific characteristics that made it a high-quality acquisition target; his approach to Day One on the job; his relationship with the seller during the transition period; the strategies he’s implemented; and his thoughts on both the challenges and the tremendous fulfillment that he’s experienced along the way.