Acquiring Minds Buying & Building a $60m Manufacturer
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Oct 28, 2024 Gat Caperton, owner of Gat Creek, shares his journey of transforming a struggling furniture manufacturer in West Virginia. He discusses acquiring the business at just 29 and the lessons learned from iconic figures like Sam Zell. Gat dives into the importance of smart competition and lean manufacturing, revealing how he cut lead times in half. He also addresses the challenges posed by international trade and the successful lawsuit against unfair practices from China. With heartfelt reflections on family and community, he showcases the resilience of American manufacturing.
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Early Career and Business Idea
- Gat Caperton, in his late 20s, worked for Sam Zell and attended business school.
- Realizing an MBA would improve his salary, he decided to buy a business instead.
Inspiration and First Search
- Sam Zell's Eagle Industries acquired manufacturing companies, inspiring Gat's similar path.
- Gat's initial business search included a water bottling company, but high capital costs deterred him.
Finding and Acquiring Gat Creek
- Gat's father suggested a furniture maker in Berkeley Springs, leading to a cold call to Tom Seeley.
- Seeley agreed to sell if Gat ran the business responsibly and with Seeley's partial financing.
