Acquiring Minds $14.5m Exit After 5 Years
13 snips
Jan 8, 2026 In this engaging discussion, Adam Vandermyde, an acquisition entrepreneur and former CEO of Petro West, shares his journey of turning a struggling company into a success. He reveals the challenges he faced when initially hesitant to buy the business due to financing and industry concerns. Adam emphasizes the importance of focusing on EBITDA over revenue and shares a costly construction mistake that nearly derailed his plans. His insights on shifting to a service-first strategy and the excitement of rewarding his employees post-sale provide a fascinating glimpse into the world of business acquisitions.
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CEO-First Deal To De-Risk Purchase
- Adam accepted an LOI and was hired as CEO to de-risk the acquisition by running the company first.
- He paid $250k for 5% to gain skin in the game while evaluating the business on the owners' dime.
Creative Financing Enabled Low Equity Buy-In
- Seller financing plus an SBA loan can structure acquisitions with minimal buyer equity when trust exists.
- In this deal 50% seller finance, 40% SBA, and 10% buyer equity enabled purchase with limited cash down.
Shift Focus Toward Service Revenue
- Prioritize service revenue by reorganizing, improving sales collateral, and mining past customers as leads.
- Grow recurring, high-margin service work rather than chasing only construction projects.
