HoldCo Builders How I Completed 12+ Acquisitions and Still Built a New Roll-Up
6 snips
Oct 4, 2025 Nick Hatchka, founder of Cube Investments, shares his impressive journey in acquiring over a dozen businesses. He discusses the allure of building a generator services platform in California, driven by growing power demands. Nick emphasizes the importance of choosing the right business models and partners, highlighting lessons learned from navigating seller-dependent companies. He also touches on the challenges and strategies of scaling operations, maintaining customer relationships, and fostering a conservative financial approach for sustained growth.
AI Snips
Chapters
Transcript
Episode notes
Capital Intensity Requires Matched Capital
- Generator businesses are capital intensive and need strong capitalization for trucks, equipment, and working capital swings.
- Nick raised outside capital specifically because his generator thesis required more financial wherewithal than Cub's self-funded pace allowed.
Choose The Business Before Chasing Operators
- Start by selecting the right business and market before leaning on operator selection or heroics.
- Nick emphasizes business-model and market selection as the primary driver of repeatable success.
Prefer B2B Service Models Over Retail
- Avoid restaurants, consumer brands, and real-estate-constrained models when inexperienced with real estate.
- Prefer B2B service businesses where you can add operational value and leverage prior sector experience.