Acquiring Minds

Michael Davidov, managing partner at Pine Street Group and a self-funded searcher, shares his incredible journey of scaling a home care agency from $6 million to $140 million. He discusses his strategic use of SBA loans for acquisitions, the importance of seeing employees as customers, and his effective hiring criteria for leaders. Davidov also highlights the challenges of integrating technology and managing payroll during rapid growth, alongside treating caregivers as essential partners, all while navigating the complexities of the healthcare sector.

Lindsay Buckheit, co-owner of Collective Creative Outdoors, and Kevin Black, co-owner of Holdsworth and Nicholas Inc., share their inspiring journey from corporate careers to co-owning two businesses. They discuss the challenges they faced during their eight-month search and the pivotal role of their buy-side advisor. Their insights include strategies for effective deal structuring, the complexities of securing financing, and the importance of teamwork in navigating business acquisitions. The couple also reflects on the emotional dynamics of managing dual business ventures together.

Jason Jackson, a partner at Futaleufu Partners, shares his gripping journey of acquiring a dental practice only to uncover fraud and a toxic culture. He discusses the crucial importance of pattern recognition and due diligence, revealing how he turned around a failing business by focusing on cash flow and fostering a healthy work culture. Jackson emphasizes the value of communication and integrity in leadership, reflecting on the emotional and financial hurdles he faced while choosing not to sue the fraudulent seller, ultimately achieving a remarkable 2x return for his investors.

Marvin Karlow, a former small business owner turned M&A advisor, shares his journey from corporate life to acquiring a struggling powder-coating business with $500k. His strategic decision-making helped transform this venture into a $21m success in just eight years. Marvin discusses navigating the challenges of customer reliance and the crucial turnaround moments that led to growth. He also emphasizes tax advantages through QSBS, the importance of partnerships, and the complexities of the acquisition process. A must-hear for aspiring entrepreneurs!

Register for the webinar: Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4jreo0UDan Angel knew he wanted to buy this B2B travel company with $3m top line. But the sale would shock the key number-two.Topics in Dan Angel’s interview:Leaving his dream career at a hedge fundComing in a little too hot as the new ownerAdding 3 offshore employeesGrowth isn’t freeRunning a fully remote teamTrying to change the world by 9:00 amTopics in Jayme Moylan’s interview:Her 15 years working for Lodging SourceBeing blindsided by the acquisitionUncertainty over who to answer to while the seller was still thereFiguring out how to interact with DanReferences and how to contact Dan and Jayme:Dan Angel LinkedInJayme Moylan LinkedInLodging SourceSelf-Funded Search vs Traditional Search FundsSam Rosati on Acquiring Minds discussing Big 3, Little 2: How to Shorten Your Search to Buy a BusinessChris Williams on Acquiring Minds: System Six: One Year UpdateGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

Jan Roll, the owner of Victoria Renovations, transitioned from a banking career to acquire a $6M residential contracting business. He shares his challenging journey, discussing the steep learning curve of managing multiple trades and the importance of building trust in a low-trust industry. Jan highlights key lessons such as the significance of paying vendors promptly, the pitfalls of unclear legal agreements, and the impact of SEO on lead generation. His experience underscores the vital role of community support and adaptability in navigating business ownership.

Matt Kopp, Managing Partner at Enduring Investment Partners, started by acquiring a supplier to schools and now leads a portfolio of education businesses. He shares insights on navigating the Australian business buying market, including innovative outreach strategies and the impact of COVID-19 on growth. Kopp discusses challenges in transitioning ownership, improving operations with technology, and competing with private equity for acquisitions. His journey highlights the significance of building relationships and recruiting top talent to drive success in the education sector.

Joe Ziolkowski, an entrepreneur who transitioned from real estate to business acquisitions, shares his journey of securing an $800k restoration company and a wood veneer manufacturing business. He discusses the importance of expanding search filters on BizBuySell to find lucrative deals. Joe shares lessons from hiring challenges, the complexities of cash flow management in the restoration industry, and strategies for selling businesses quickly at a profit. He emphasizes the significance of employee welfare during acquisitions and the value of mentorship for success.

Chris Fredericks, the Founder and CEO of Empowered Ventures, delves into the transformative world of Employee Stock Ownership Plans (ESOPs). He shares insights on finding meaning and dignity at work, the importance of transparent communication, and how ESOPs can reshape company culture. Chris discusses his journey from finance to entrepreneurial leadership, the complexities of transitioning businesses to employee ownership, and the innovative strategies that can mitigate risks and enhance employee engagement in this unique ownership model.

Adam Goldberg, owner of Seracon, a Montreal-based candle manufacturer and former costume jewelry entrepreneur, shares his fascinating journey of reinvigorating a struggling business. He discusses the crucial lesson of never going into business with friends and reflects on his mistakes, like over-hiring and trying to be an absentee owner. Goldberg also emphasizes the significance of employee engagement and recounts how he introduced unique maple syrup candles to help carve out their brand story, showcasing the blend of heritage and innovation in his approach.