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M&A Talk (Mergers & Acquisitions), by Morgan & Westfield
From Solo Practitioner to Successful Entrepreneur: A Story of Grit and Adaptability
Aug 21, 2024
Marc Beginin, an entrepreneur who faced significant challenges including a halted $80 million sale due to the COVID-19 pandemic, shares his remarkable journey. He discusses his resilience in navigating through a merger and launching a new business despite setbacks. Listeners learn about the importance of adaptability in entrepreneurship, the intricacies of mergers and acquisitions, and the lessons of grit gained from overcoming obstacles. Marc's insights highlight the power of persistence and strategic growth in the ever-evolving business landscape.
01:03:25
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Quick takeaways
- Marc Beginin's entrepreneurial journey emphasizes the importance of resilience and adaptability, especially when faced with unexpected market disruptions like the COVID-19 pandemic.
- The merger between Precision Extraction Solutions and Cascade Sciences showcases strategic partnerships as vital for survival and competitive advantage in the M&A landscape.
Deep dives
Growth and Evolution of Precision Extraction Solutions
Precision Extraction Solutions started in 2014 with a modest investment of $45,000, focusing on developing safe extraction equipment for cannabis and hemp. By 2019, the company enjoyed significant success, generating over $40 million in revenue and receiving a $5 million investment at a $40 million post-money valuation. An acquisition deal for $80 million was structured shortly before the COVID-19 pandemic hit, which caused significant disruptions in the market. Ultimately, the deal fell through due to the buyer's halted M&A activities triggered by the pandemic, forcing the company to pivot and evaluate its own M&A strategies.
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