Sam Turner, a successful entrepreneur, shares his story of acquiring three companies with a £17m turnover. Topics include reasons for buying a business, rebranding strategies, integration considerations, and reaching out to companies for deals.
34:48
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
question_answer ANECDOTE
From Football to Finance
Sam Turner's career began in football but transitioned to finance after realizing he wasn't good enough professionally.
He spent 20+ years in the travel industry, working his way up at TUI.
question_answer ANECDOTE
Hotel Beds Growth and Acquisition
As Finance Director for TUI's Hotel Beds, Sam oversaw significant organic growth, from £0.75B to £3B in six years.
The company was then sold to private equity, where he led the integration of three businesses, doubling revenue to £6B.
insights INSIGHT
Against Integration
Sam's experience with large-scale integrations led him to favor a collaborative, non-integrative approach for his own acquisitions.
Instead of merging back offices, he prioritizes collaboration and revenue synergies among independent businesses.
Get the Snipd Podcast app to discover more snips from this episode
In this episode, Jonathan Jay is joined by Sam Turner, a successful entrepreneur who has made waves in the business world by purchasing three companies with a combined turnover of £17m within the last 15 months.
Sam shares his story of how he got started in the business world and what led him to acquire businesses. He also shares his thoughts on rebranding and why he's not overly focused on integration.
Sam offers invaluable insights into the art of reaching out to companies and the deals he needs to undertake to reach his revenue goal.
Key Highlights
[01:29] What led Sam to the world of business
[07:09] Why Sam is not focused on integration
[08:36] Why Sam decided to buy a business
[11:08] How the decision on the sector to venture into came about
[15:21] Rebranding, how Sam handles it
[17:11] Where there is value from a branding perspective
[19:01] Sam’s thoughts on integrating back office
[21:21] The annual group revenue and how it has grown
[25:44] How to reach out to companies
[28:26] Possibility of having deals out of the initial conversations
[30:13] Deals that Sam needs to undertake to get to the 60 million revenue
Notable Quotes
If you've got a very, very similar value proposition for customers. A very similar business model, why wouldn't you look for the cost synergies as part of that?
Brand equity, so to speak, is important that the reputation in the market Yes, is part of what you're buying. You're buying the people, the contracts, and the reputation. So I think it would be honestly crazy to try and think about a rebranding of that.
When you're dealing with smaller businesses, they've got a legacy, a culture, and a reputation in the marketplace. You want to protect that and sort of enhance it rather than damage it.
Sometimes it's horses for courses. I think, as we said before, if you've got a cookie-cutter approach, then it makes sense to be o
Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information.
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk
Business Buying Strategies from The Dealmaker's Academy