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Acquiring Minds
How 2 Entrepreneurs are Rolling Up a New Market
Nov 18, 2024
Francisco del Rio and Diego Silva, co-founders of LATAMVet, are revolutionizing the veterinary market in Chile. With backgrounds in engineering and finance, they share their inspiring journey from corporate careers to entrepreneurship. They discuss the challenges of trust and valuation during clinic acquisitions, emphasize building relationships with sellers, and navigate the complexities of operating during COVID-19. Their innovative strategies focus on digital management systems and a vision for expansion into neighboring countries, fueled by the growing trend of pet humanization.
01:46:15
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Quick takeaways
- Francisco Del Rio and Diego Silva successfully employed a roll-up strategy in the fragmented veterinary market by completing five acquisitions in Chile.
- Building trust and understanding the seller's perspective were crucial for LATAMVet to navigate the skeptical attitudes of local veterinary owners towards selling.
Deep dives
Introduction to Veterinary Roll-Ups in Chile
The discussion begins with the introduction of the concept of roll-ups, a business strategy where companies acquire and consolidate smaller firms in a fragmented industry. Francisco del Rio, motivated by entrepreneurial aspirations, connected with peers from his MBA program who successfully executed a similar model in the veterinary sector in the U.S. Despite lacking experience in the veterinary field, he recognized the potential for a similar venture in Chile. Teaming up with Diego Silva, the duo has already completed five acquisitions, aiming to increase that number significantly by the end of the next year.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode