Acquiring Minds Buy and 3x a Project-Based Business in Just 2 Years
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Oct 2, 2023 Johannes Hock, a private equity professional, shares his journey of acquiring an artificial turf installer business and growing it from $5m to on track to exceed $15m in 2023. He discusses the differences between private equity and search, sources of deal flow, valuing and financing a fast-growing business, tracking data, and unexpected costs of sales commissions. He also emphasizes the benefits of having a partner in search and the challenges of financing a rapidly growing business.
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Relax Search Criteria Early
- Relax overly strict criteria early in your search to avoid wasting time chasing unicorns.
- Being flexible and acting quickly increases chances of finding a viable deal.
Prioritize Growing Industries
- Buying in a growing industry provides tolerance for errors and easier growth.
- A fast-growing market creates an opportunity to grow without fierce competitive battles for shrinking pie.
Act Fast and Decisively
- Move quickly in your search and act decisively to capitalize on opportunities.
- High volume deal flow early in the search cushions psychological toll and improves decision making.