Acquiring Minds 4 Acquisitions In, Holdco Builder's Goal is £150m
Jan 18, 2024
Sam Turner, owner of Advantos, shares his vision of building the leading platform for independent M&E businesses in the UK. He discusses the importance of patience and flexible timelines, lessons from his first acquisition, and change management in blue collar businesses. He also talks about increasing the holdco revenue target from £60m to £150m, extending his 5-year plan to 10 years, and improving the lives of 30,000 people. In addition, he explores shared services among his four businesses and the success of cross-selling in the HVAC industry.
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Diversification Reduces Risk
- Owning multiple businesses diversifies risk and balances out performance fluctuations.
- Diversification doesn't require integration; less integration can mean greater diversification.
Inflation Hits First Acquisition Hard
- Sam's first acquisition suffered due to inflation and fixed long-term contracts with thin margins.
- Market downturns and increasing costs created a perfect storm challenging that business's survival.
Manage Stress With Routines
- Develop routines and exercise regularly to manage stress during tough business moments.
- Use mindset tools like gratitude and positive affirmations to build resilience.