Acquiring Minds Buying in a Small Market, Building a Regional Powerhouse
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Mar 3, 2025 Jonathan Bournigal, President of Bunker, shares his journey of turning a small document storage operation in the Dominican Republic into a thriving enterprise. He discusses the nuances of acquiring family-run businesses, why multiples can be higher in smaller markets, and the importance of building local relationships. Bournigal contrasts growth equity with traditional buyouts and reveals strategies for market domination without incurring debt. His insights on adapting investment strategies to local dynamics make for a captivating listen!
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Choosing Investors
- Jonathan Bournigal decided to pursue a funded search and raise capital locally.
- He prioritized investors familiar with the Dominican Republic's business landscape.
Adapting Search Thesis
- Bournigal's initial search thesis of targeting retiring baby boomers proved inaccurate in the Dominican Republic.
- Family businesses, unlike in the US, often had succession plans, making acquisitions difficult.
Networking for Deal Flow
- Jonathan found success through proprietary deal flow, leveraging his network and attending events.
- His father's status as a cardiologist opened doors and built trust, proving invaluable in the close-knit DR market.
