Acquiring Minds

Dave Gilbert, founder of Proven and former tech entrepreneur, shares his journey of acquiring a struggling accounting business. He details the challenges faced, such as unexpected revenue drops and staffing issues, after initially passing on the deal. Dave emphasizes the importance of adapting corporate culture and recruiting top talent, while also exploring the benefits of fractional executive roles in the evolving business landscape. He compares turnaround strategies to startup founding, highlighting the complexities involved, particularly under financial pressure.

Taylor Mattingly, Co-CEO of Energy Ogre and former management consultant, shares insights from his unique journey of acquiring a consumer-facing business he was once a customer of. He discusses navigating Texas’s confusing deregulated energy market and his decision to lead a co-CEO partnership with his best friend. The flat-fee model for Energy Ogre emphasizes customer retention, while AI integration aims to enhance service. Plus, Taylor reveals the importance of building trust with potential sellers during the acquisition process.

Linh Tran, a self-funded search entrepreneur and owner of Advanced Commercial Group, shares his inspiring journey of transforming a small refrigeration business into a multi-million dollar platform. He discusses his unique 'Three Rs' search criteria for acquisitions and his undercover approach to understanding the business culture. With insights on work-life balance, value-based pricing, and nurturing employee loyalty, Linh highlights the importance of building systems and maintaining a healthy work environment, all while focusing on long-term wealth and legacy.

Greg Geronemus, former co-CEO of Smart Tours and now a managing partner at Footbridge Partners, shares his journey in acquiring a profitable travel business. He discusses the unique challenges of searching in the competitive New York market and the innovative strategies used for outreach. Geronemus reveals how partnering with universities boosted growth and why direct mail proved to be more effective than digital marketing. He shares insights into the sale process, achieving a remarkable 9x EBITDA return, and highlights key lessons in acquisition discipline and risk management.

Gail Hamilton-Azoto, an entrepreneur who built a $4M revenue business in audiology, shares her journey from brand management at Procter & Gamble to owning multiple practices. She discusses the innovative financing model using manufacturer supply agreements to acquire audiology practices with 100% financing. Gail emphasizes the life-changing impact of hearing aids, the challenges of managing remote operations, and the potential for rapid growth in the industry. Her insights into the economics of audiology and unique strategies for scaling will inspire aspiring entrepreneurs.

Katherine Butler-Dines, an entrepreneur and former CEO, and Rahul Desai, a technologist and operator, share their transformative journey from being bound by traditional CEO roles to pursuing self-funded ownership. They discuss the challenges of acquiring a business while juggling day jobs and highlight their innovative back-office solutions that enhance margins in the travel industry. With a vision for a rollup strategy in niche brands, they emphasize the importance of majority ownership for balancing growth and lifestyle, as well as the economic advantages of travel businesses.

In this discussion, Clayton Collins, Entrepreneur and CEO of HousingWire, shares his journey of acquiring the B2B publisher and scaling it from $4M to nearly $20M. He highlights the importance of in-person meetings with investors and rebuilding sales teams. Clayton also delves into the significance of events for deepening audience engagement and driving revenue. He discusses the integration of acquisitions like RealTrends and their flywheel strategy, where content, events, and data create cross-selling opportunities. His insights on hiring for growth reveal how talent fuels product innovation.

Jared Lenner, an MBA and former finance professional, now leads Grade Potential Tutoring after acquiring it from Dave Serwitz, who founded the business two decades ago. They discuss the unique challenges of the acquisition process, including the importance of transparency and assuming positive intent during negotiations. Jared shares insights on leveraging data for growth and addressing the competitive threat of AI to in-person tutoring. Dave reflects on his feelings post-sale and the mixed emotions that come with transitioning ownership.

Shaun Stimpson, a former wealth manager turned mid-career acquirer, shares his journey of growing his industrial distribution business to $38M in just three years. He discusses the power of cold calling, revealing how he reached out to 1,200 businesses during his search. Shaun dives into his strategic decision to focus on a long-term ownership model and the diverse nature of industrial distribution. He also emphasizes the importance of his professional network for securing investors and the surprising benefits of switching careers at mid-life.

Ania Aliev, CEO of Life Support Systems and a dynamic search fund entrepreneur, shares her fascinating journey in acquiring an AED sales and service business. She reveals how she finalized the deal while in labor—talk about dedication! Ania discusses the industry's unique dynamics, the importance of customer relationships, and her innovative pricing strategy that ties low AED sales to service commitments. She also highlights the minimal competition and vast growth potential in this fragmented market, making it an ideal space for acquisition.