Acquiring Minds The $295m Search Fund Exit
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Sep 25, 2023 Sandy Paige shares how he raised funds for his search fund and grew EBITDA by 7x. He discusses the challenges he overcame, renting space to animal research labs, and hiring the right team. The podcast also covers the risks of real estate dynamics, selling to competitor Charles River Laboratories, and the importance of amenitizing a life science building.
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Political Roots Inspire Entrepreneurship
- Sandy Page turned to acquisition entrepreneurship after watching Senator Angus King take a risk late in life successfully.
- His political work taught him the value of communication, key for raising money and managing people.
Personal Struggles Delay Search
- Sandy delayed his search fund pursuit twice due to his wife's health issues and family responsibilities.
- After her passing, his second wife challenged him to either act or stop complaining about the search fund aspiration.
Resilience Matters to Investors
- Investors value resilience highly because search funds are very challenging to execute.
- Persistence through setbacks proved crucial for Sandy Page's eventual success raising his fund at 48.