SummaryIn this conversation, Jon Stoddard interviews Jules Brenner from Metal Solutions Holdings, discussing the company's journey in acquiring multiple welding and metal manufacturing businesses. They explore the importance of partnerships, the challenges of refining a buy box, the self-funding approach, and the unique landscape of California manufacturing. Jules shares insights on operational improvements, the significance of contrarian thinking in business strategy, and the potential for growth in the metal fabrication market. In this conversation, Jules Brenner discusses the intricacies of managing a manufacturing business, focusing on customer relationships, the significance of repeat business, and the importance of quality standards. He shares insights from his experiences in acquiring businesses, navigating deal flow, and the personal growth he has undergone as a leader. The discussion emphasizes the need for strategic decision-making and the commitment to preserving manufacturing jobs in California.Chapters00:00 Introduction to Metal Solutions Holdings02:52 Building Partnerships in the Industrial Space05:59 Refining the Buy Box: A Journey of Discovery08:53 Self-Funding and the Role of Investors12:00 Understanding Deal Structures and Financing14:53 The California Manufacturing Landscape18:08 Contrarian Thinking in Business Strategy20:58 Operational Improvements in Acquired Businesses23:56 Implementing Systems for Growth27:06 Market Potential and Customer Acquisition27:42 Understanding Customer Relationships in Manufacturing32:36 The Importance of Repeat Business and Quality Standards38:17 Lessons Learned from Acquisitions and Quality Control44:45 Navigating Deal Flow and Seller Relationships48:20 Personal Growth and Leadership in Business ManagementKeywordsMetal Solutions Holdings, industrial partnerships, buy box, self-funding, deal structures, California manufacturing, contrarian thinking, operational improvements, business systems, customer acquisition, manufacturing, customer relationships, repeat business, quality standards, acquisitions, deal flow, leadership, business management, industrial technology, California manufacturing

Can Self-Funded Searchers REALLY Raise MILLIONS of CAPITAL to Buy a Business?  Sean Smith of Search Fund Ventures explains how its done. Takeaways•  Search Fund Ventures focuses on self-funded searchers and independent sponsors.•  They target essential products and services for investment.•  Investment involves filling equity gaps for searchers.•  Sean emphasizes the importance of downside and upside return scenarios.•  Recent Successful deals are evaluated based on strong revenue bases and recurring revenue.•  Searcher qualifications include financial backgrounds and industry experience.•  The HVAC sector is a key focus area for their investments.•  They prioritize deals with near-term distributions for investors.•  The fund has a three-year deployment period for capital.•  Incentive alignment between investors and entrepreneurs is crucial. Chapters00:00 Introduction to Search Fund Ventures02:47 Understanding Self-Funded Searchers05:54 Investment Process and Value Addition09:00 Cost of Capital and Return Expectations12:02 Recent Deal Overview15:00 Evaluating Searcher Qualifications18:07 Commercial vs. Residential HVAC Businesses20:55 Roll-Up Strategies and Multiple Expansion23:54 Investor Commitments and Fund Structure27:05 Navigating the Search Fund Landscape30:02 Intrinsic Value and Investment Decisions33:14 Due Diligence and Quality of Earnings36:05 Future Goals and Investment Timeline

SummaryIn this conversation, Jon Stoddard interviews John Panaccione, an Army veteran and entrepreneur who co-founded LogicBay and later launched Folla Capital. They discuss the intricacies of participating preferred equity, the challenges of raising capital for small to medium-sized business acquisitions, and the evolving landscape of SBA loans. John shares insights on structuring deals, investor relations, and the importance of understanding the rules surrounding capital raising. The discussion highlights the opportunities available for buyers looking to acquire businesses without significant upfront capital.TakeawaysParticipating preferred equity provides investors with a preferred position and additional rights.Crowdfunding emerged as a viable option for raising capital in 2012.SBA loans can be complemented with seller financing and investor contributions.Understanding SBA rules is crucial for structuring deals effectively.Reverse engineering valuations can help buyers negotiate better prices.Investors need to have a clear understanding of the terms before committing.Raising capital requires building relationships and trust with potential investors.The process of acquiring a business can be more straightforward than starting a new venture.Veterans often face unique challenges in accessing capital for business acquisitions.Fola Capital offers a structured approach to help buyers navigate the acquisition process.Chapters00:00 Introduction to John Panaccione and LogicBay03:03 Understanding Participating Preferred Equity06:10 The Transition to Folla Capital08:52 Raising Capital for SMB Acquisitions11:51 Navigating SBA Loan Requirements15:00 Structuring Deals and Reverse Engineering Valuations17:54 Investor Relations and Terms21:01 Challenges in Raising Capital23:54 Opportunities in Business AcquisitionsKeywordsM&A, business acquisition, participating preferred equity, crowdfunding, SBA loans, capital raising, small business, investor relations, Logic Bay, Folla Capital

SummaryNathan Lenahan didn’t just “fall” into success—he fought for it. In this gripping conversation, he reveals the raw, unfiltered truth about the challenges he faced in his early business acquisitions and how a single strategic pivot to HVAC transformed everything. You’ll hear how Nathan overcame growth roadblocks, built a powerhouse team, and launched a recruiting business that’s now generating fresh revenue streams. He’s not stopping there—he’s mapping out even bigger moves in HVAC and plumbing. If you want a masterclass in perseverance, strategy, and scaling up, this is the story for you.KeywordsNathan Lenahan, acquisitions, HVAC, entrepreneurship, business growth, lessons learned, recruiting, company culture, strategic decisions, challengesChapters00:00 Introduction to Nathan Lenahan's Journey05:30 Lessons from Early Acquisitions10:49 The Shift to HVAC: Strategic Decisions18:24 Navigating Growth and Challenges26:55 Building a Team and Company Culture36:46 Recent Acquisitions and Future Plans46:58 The Launch of a Recruiting Business

SummaryIn this conversation, Daniel Gertrudes shares his journey from a corporate background to becoming an entrepreneur in the accounting industry. He discusses the challenges and insights gained from acquiring accounting firms, transforming operations to the cloud, and the evolution of financial services. The conversation also delves into marketing strategies, the impact of technology, and the future of accounting in the face of AI and changing market dynamics. Daniel emphasizes the importance of relationships, cash flow management, and the strategic decisions that have shaped his business, Growth Lab Financial Services.Chapters00:00 The Journey Begins: From Corporate to Entrepreneurship02:38 Acquisition Insights: Buying an Accounting Firm05:51 Transforming Operations: Moving to the Cloud08:39 Building Relationships: Merging Cultures in Acquisitions11:20 Marketing Evolution: From Networking to Digital14:13 The Value Proposition: Finance as a Service17:00 Innovating with Streams: Automation and Integration19:58 The Future of Accounting: Embracing Change and AI22:45 Navigating Challenges: Lessons from the Journey25:54 Financial Strategies: Managing Cash Flow and Growth28:32 Looking Ahead: Future Opportunities and Acquisitionsentrepreneurship, accounting, acquisitions, financial services, cloud technology, marketing strategies, AI in accounting, cash flow management, business growth, customer relationships

Why Buying Your First Business is the Hardest.  We Make it Easy.  www.DealFlowSystem.netMichael Ly reveals how he built Reconciled from the ground up and then acquired 3 more accounting firms. Discover his secrets to scaling with outsourced accounting, cold email outreach, and using tech to streamline the workload. He uncovers the biggest challenges in the accounting industry today—AI, fewer grads, and more. Michael shares insights on finding capital partners, integrating firms, keeping clients and staff happy, and how to grow even bigger by adding services and moving upstream.TakeawaysThe accounting industry is facing challenges from macro forces such as a drop in the number of accountants graduating and the rise of AI applications.Reconciled focuses on outsourced accounting and online bookkeeping for lifestyle small businesses.Cold email outreach has been an effective strategy for attracting clients.Technology plays a crucial role in managing the workload and improving productivity in the accounting industry. Finding a capital partner is crucial when acquiring accounting firms.Retaining employees and clients during the transition is a challenge, and a longer transition period can help with retention.The accounting market is still reliant on local services, and AI tools are more likely to serve solopreneurs and smaller businesses.Moving upstream and adding services like CFO advisory and tax planning can increase the value and margin of an accounting firm.The predictability and stability of accounting firms make them attractive for financing.The need for local accounting services and the complexity of the tax code ensure the continued demand for accounting professionals.Keywordsaccounting firms, acquisitions, industry challenges, Reconciled, outsourced accounting, online bookkeeping, lifestyle small businesses, cold email outreach, technology, acquiring accounting firms, capital partners, integrating firms, evaluating buyers, retaining employees, retaining clients, state of the accounting market, AI in accounting, opportunities for growthChapters00:00 Introduction and Industry Challenges03:06 Focus on Outsourced Accounting for Lifestyle Small Businesses06:34 Effective Strategies for Attracting Clients10:28 The Role of Technology in the Accounting Industry17:28 The Challenges of Implementing AI in Accounting19:15 The Process of Acquiring Accounting Firms24:56 Integration and Future Plans27:30 Retaining Employees and Clients During the Transition Period32:21 Challenges and Surprises in Acquiring Accounting Firms34:26 The State of the Accounting Market and the Impact of AI42:16 Opportunities for Growth: Moving Upstream and Adding Services

SummaryAdam Coffey discusses the re-release of his book, Private Equity Playbook, and the importance of understanding private equity for entrepreneurs. He explains how private equity works, including the process of raising funds, buying and growing companies, and generating returns. Coffey emphasizes the potential for entrepreneurs to use private equity as a tool for wealth creation and multiple exits. He also discusses the concept of buy and build strategies and the role of platform companies in the private equity industry. Adam Coffey discusses his role as an equity plateau and the different ways he is involved in various companies. He explains that he invests in and coaches CEOs, helps with the transition to private capital, and works with private equity firms. Coffey also shares his interest in accounting firms and the reasons why he finds them attractive, such as recurring contracted revenue and low capital expenditure. He discusses the importance of EBITDA in private equity and shares his thoughts on the potential impact of taxing unrealized capital gains.Keywordsprivate equity, book release, wealth creation, buy and build, platform companies, equity plateau, investment, coaching, private capital, private equity, accounting firms, recurring revenue, EBITDA, taxing unrealized capital gainsChapters00:00 Introduction and Book Release03:07 The Need to Refresh the Private Equity Playbook07:48 Understanding Private Equity and Its Impact12:31 Buy and Build Strategies in Private Equity18:57 Platform Companies: The Foundation for Growth25:19 From Exit to Multiple Paydays: Maximizing Wealth Creation29:53 The Role of an Equity Plateau: Investing, Coaching, and Mentoring31:48 The Appeal of Accounting Firms: Recurring Revenue and Low Capital Expenditure53:37 The Potential Impact of Taxing Unrealized Capital Gains

SummaryPatrick O'Connell, a quality of earnings specialist, discusses the importance of analyzing the true earnings potential of a business before buying or selling. He highlights five red flags to watch out for in a potential deal: pending lawsuits, high employee turnover, inconsistent financials, declining market share, and key dependence on a few customers. Patrick emphasizes the need for thorough due diligence and understanding the story behind the numbers. He also provides insights into evaluating two specific deals, a tech wholesaler and a medical tech blog.Chapters00:00 Introduction to Patrick O'Connell and Quality of Earnings02:12 Unpacking the Concept of Quality of Earnings08:29 Red Flag #1: Pending Lawsuits13:10 Red Flag #2: High Employee Turnover16:24 Red Flag #3: Inconsistent Financials21:06 Red Flag #4: Declining Market Share22:59 Red Flag #5: Key Dependence on a Few Customers26:19 Evaluation of a Tech Wholesaler Deal32:21 Evaluation of a Medical Tech Blog Deal with 50 Million VisitorsKeywordsquality of earnings, red flags, due diligence, pending lawsuits, employee turnover, inconsistent financials, declining market share, customer concentration, tech wholesaler, medical tech blog

SummarySam Rosati co-founder of Premier Solutions Group, discusses his experience in acquiring and growing fence companies in the sunbelt region. He highlights the importance of focusing on commercial fencing, which offers larger projects and a competitive advantage. Sam also emphasizes the significance of building a strong team and delegating tasks to ensure the success of the business. He shares insights on the acquisition process, including the need for capital and the importance of understanding the seller's objectives. Sam discusses the challenges and lessons learned in scaling the business and the importance of effective communication and transparency within the team.Chapters00:00 Introduction and Background05:10 Starting Premier Solutions Group09:09 Acquiring West Florida Fence and Partnering with Wes14:44 Key Factors in Acquisitions17:31 The Thesis Behind Premier Solutions Group20:06 Delegating Administrative Tasks23:17 Managing Friction and Conflict25:06 Long-Term Goals for Premier Solutions Group29:02 Lessons Learned and Regrets31:28 Building a Great Team34:36 Overcoming Challenges and Mistakes

Meet Robert Kirila and Mark Whaling, the duo behind Black Powder Partners—a game-changing venture that's turning the dream of entrepreneurship into a reality for special forces veterans. Born out of their passion for aiding these heroes as they transition to civilian life, their journey began with Your Grateful Nation, a nonprofit dedicated to helping special forces veterans find success in the corporate world. But they quickly discovered that while many veterans excelled in traditional roles, their true calling lay in the bold, entrepreneurial landscape.Black Powder Partners is not your typical private equity firm. They specialize in acquiring and growing asset-light service-based micro-cap companies in the Southeast, placing highly skilled veterans in leadership roles. This unique approach combines financial acumen with the indomitable spirit and leadership skills of veterans—making their businesses unstoppable forces in their niches.With three successful acquisitions under their belt, Black Powder Partners has proven that their model works. They're not just about the bottom line; they're about instilling a culture of leadership and growth. Their focus is on businesses with long-term potential, leveraging the talents of veterans to drive success.Investors are taking notice, excited by the chance to support a veteran-owned firm that doesn't just hire veterans but celebrates them. With a patient, flexible investment approach, Black Powder Partners is in it for the long haul, aiming for a five to seven-year window for returns. This isn't just business; it's a mission to empower those who have served and to foster a new generation of veteran entrepreneurs ready to conquer the world of business.