Minds Capital Podcast Aggregating SMBs Inside a Public Company
Oct 8, 2025
Rob Casper, an Operator-in-Residence at Kingsway Financial with a background in the Marine Corps and private equity, shares insights from his journey. He emphasizes the importance of hands-on trade experience and servant leadership in building sustainable service businesses. Casper discusses the appeal of Kingsway’s public holding model, which favors long-term growth and employee retention. He also contrasts the plumbing industry's stability and licensing requirements with the landscape sector, highlighting the strategic advantages in operational consolidation.
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People Drive Service-Business Results
- Rob says financials are lagging indicators and people are the leading ones in service businesses.
- Prioritize serving and enabling field staff because strong people management drives long-term results.
Operators Should Own Sourcing
- Kingsway expects operators in residence to source deals themselves and build owner relationships.
- Do the legwork as an operator to find targets and create alignment with sellers.
Public Co Pivoted Into Search Accelerator
- Kingsway repurposed public-company capital by starting a search accelerator inside a legacy insurer.
- The model aims to compound value by reinvesting proceeds into SMB acquisitions.