Buy and Build Ep 94: From Startup Struggles to £5 Billion Exit: Jeremy Middleton’s Entrepreneurial Journey
Jan 30, 2025
In this discussion, Jeremy Middleton, co-founder of HomeServe and CEO of Middleton Enterprises, shares his inspiring entrepreneurial journey leading to a £5 billion exit. He recounts pivotal moments that transformed failures into triumphs. Jeremy emphasizes the importance of cash flow, founder-friendly equity structures, and the necessity of strategic partnerships. His insights on what makes a scalable business and how investors can add value beyond capital are particularly enlightening, offering raw wisdom for aspiring entrepreneurs and investors alike.
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Early Startup Pivot to Warranty Model
- Jeremy Middleton and Richard Harpin started with property rentals and managing multiple occupancy tenancies, which led to a property management agency.
- They evolved multiple related businesses, ultimately pivoting to a warranty-based emergency plumbing service with a strong national franchise model.
Acquisitions Need Close Fit
- Organic growth was key, especially first with utilities in the UK, before branching internationally.
- Acquisitions had mixed results; only closely related businesses fit well to add value and avoid costly failures.
Founder-Friendly Growth Investment
- Middleton Enterprises backs profitable small to medium businesses on a scale-up path with entrepreneur-friendly equity.
- They encourage raising money little and often, with no pressure to exit, emphasizing long-term growth and founder control.