Acquiring Minds How to Build a Holdco Foundation: Patiently
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Feb 27, 2025 Barker Squire, Owner of CraneWorks, shares his journey from Marine Corps leadership to successfully growing a crane servicing business threefold in six years. He discusses the importance of staying adaptable during seller meetings and the challenges of government contracts. Barker delves into the nuances of self-funded searches for acquisitions and the significance of maintaining company culture and safety in a high-risk industry. He also envisions building a holdco, emphasizing the value of strategic leadership transitions and employee empowerment.
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Search Criteria
- Barker Squire prioritized autonomy and control in his search, focusing on self-funding to become a majority owner.
- He constrained his search geographically to Virginia and North Carolina to be near family.
Search Process Advice
- Start search preparation early, like setting up a website, but delay active searching until after graduation.
- Barker tracked lead sources and realized business brokers provided the best deals, leading him to focus on that channel.
Finding Craneworks
- Barker found CraneWorks via a timely call to a broker who was finalizing the business's sale.
- It fit his criteria: recurring revenue from military contracts, alignment with his industrial services interest, and proximity to his family.
