Acquiring Minds How to Buy a $13m Business with No PG, No Investors
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Jan 13, 2025 Carlo Santelli, an acquisition entrepreneur and owner of Tri-M Industries, shares his journey of buying a $13 million revenue business without traditional financing. He discusses his unique strategies, like sale-leaseback and asset-based lending, that empowered him to secure ownership. Carlo also delves into his transition from finance to entrepreneurship, emphasizing the importance of proprietary deals and maintaining deal momentum. His experiences navigating challenges, learning along the way, and ambitious goals for future acquisitions provide listeners with valuable insights into strategic business ownership.
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Persistence and Unconventional Path
- Carlo Santelli was fired from his analyst role in investment banking and took three attempts to get into Columbia University.
- He emphasizes persistence, having spent 10 years in finance before transitioning to entrepreneurship.
Magic in the Multiples
- Carlo's "aha moment" came from discovering the low multiples of small businesses.
- He was shocked by a back pain device company selling for 3x EBITDA, sparking his interest in acquisitions.
Prioritize Proprietary Deals
- Focus on proprietary deals to find below-market opportunities.
- Avoid deals involving brokers or banks for better acquisition economics.