HoldCo Builders

How I Acquired a Large Company Right After Stanford MBA | Justin Mazeka Vogt Interview

Nov 9, 2023
Justin Mazeka Vogt, co-founder and CEO of Evermore Industries, shares his journey from Bain Capital to building a permanent capital holding company. He discusses the importance of complementary skills in partnerships and the strategic focus on long-term value over dividends. Justin reveals his thoughts on investor-advisors and the significance of team dynamics for post-acquisition growth. He also highlights the role of Twitter in fostering entrepreneurial communities and shares powerful insights on decision-making in business.
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INSIGHT

Customer Retention is Key

  • Long-term retention with low customer churn signals durable business quality.
  • Relationship compounding over years is core to Evermore's investment thesis.
INSIGHT

Power of Permanent Capital

  • Permanent capital aligns with valuing long-term compounding of relationships and trust.
  • Evermore rejects typical fund time horizons aiming for enduring multi-decade business stewardship.
ADVICE

Trust and Financial Health Matter

  • Walk away from deals lacking trust or alignment with culture.
  • Adhere to strict financial criteria to avoid acquiring businesses that don't fit investment philosophy.
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