Acquiring Minds

Brett Maxam, owner of Morkrete Construction in Vancouver, Washington, shares his unique journey of acquiring a concrete business from afar. He discusses the thrill of ‘running the show’ and how he involved his wife in decision-making. Negotiation tactics are highlighted, including securing favorable seller financing. Brett emphasizes the importance of a 13-week cash flow forecast and effective management delegation. He also weighs the pros and cons of growth versus further acquisitions, delivering valuable insights for aspiring entrepreneurs.

Felipe Corcuera, Co-CEO of Beaker, shares his journey of acquiring a robotic process automation company just before AI took off with ChatGPT. He discusses the challenges of navigating imperfect information in the lower middle market and the importance of strategic partnerships. Felipe dives into unique valuation insights, emphasizing personal connections with sellers and the shift towards recurring revenue models. He outlines the highs and lows of being in the AI industry and shares his philosophy on aggressive reinvestment for long-term growth.

Daniel Batista, owner of Candyland Kids Downey, brings a unique perspective to business acquisition. He shares his transition from the film industry to owning an indoor playground, highlighting the high EBITDA margins and the appeal of LA demographics. Batista delves into his search for engaging business opportunities, revealing strategies for growth through character events and arcade enhancements. He also discusses the importance of effective franchising and navigating the financial aspects of acquisitions, all while ensuring a fun and safe environment for families.

Kyle Boyden and Jake Furfaro, co-founders of Rainier Cleaning Solutions, share their fascinating transition from real estate to acquiring small cleaning companies. They discuss the challenges of their early acquisitions, including the lack of due diligence and the pain of navigating seller financing. The duo reveals how these experiences built their operational skills. They explore the complexities of the cleaning industry, strategic management lessons, and the importance of humility and calculated risks in achieving growth.

Bryan Houck, the owner of Extra Credit Projects, is a seasoned entrepreneur who purchased an award-winning creative agency at 58 after a series of setbacks. He shares his journey of resilience, reflecting on losing everything in a startup and discovering his unique talents. Bryan discusses the importance of hiring a buy-side advisor, navigating financial complexities in acquisitions, and crafting innovative marketing strategies like guerrilla campaigns. His insights on personal motivations demonstrate how entrepreneurship can thrive at any age.

Jeff Horn, an entrepreneur and former owner of Benchmark Business Solutions, shares his entrepreneurial journey from leaving a stable job to acquiring a $5 million Xerox dealership, ultimately growing it to $30 million. He discusses the importance of building strong relationships in the first 90 days and relying on capable employees for success. Jeff also highlights the challenges of scaling operations, navigating strategic acquisitions, and his transition into the role of investor, providing valuable insights for aspiring business owners.

Eric Calderon, owner of TXE Partners, transitioned from engineering to entrepreneurship through a search fund. He shares insights on building an industry-focused holding company, revealing the importance of community banks and emotional challenges in downsizing. The discussion highlights strategies for acquiring small businesses, the benefits of a shared services model, and the evolving role from operator to investor. Eric emphasizes storytelling in business and aims for a target size of $1 million SDE for acquisitions, focusing on long-term value creation amidst market fluctuations.

Luis Reyes, the founder of Iberian Ventures and a former Bain consultant, shares his remarkable journey from rural Mexico to spearheading a fire safety roll-up in Spain. He discusses his aggressive acquisition strategy, achieving $8 million in EBITDA through 24 consolidations. Luis emphasizes the role of AI in enhancing operational efficiency and navigating the complexities of merging various business models. He also reflects on the unique challenges of the European investment landscape and shares insights into fostering leadership within SMEs.

Jesus Wong, owner of Gear Restore, transitioned from a 16-year corporate career to entrepreneurship by acquiring a Canadian garment repair business. He shares insights from his immigrant background and family history of entrepreneurship. Wong discusses the unique challenges of financing in Canada, including high closing costs and the importance of a strong deal team. He highlights the labor-intensive nature of the repair industry and strategies for managing customer concentration. His journey illustrates how personal growth and determination can lead to successful business ownership.

Avery Tomek is an entrepreneur who dove into the FedEx route business during the pandemic, transforming a $1 million investment into a $25 million empire. He shares insights on pivoting from real estate, the challenges of expanding his fleet to 240 trucks, and managing a logistics operation remotely. Avery discusses the importance of weekly deposits, the factors that make a route profitable, and the demanding nature of running such a business. His journey highlights the interplay between adaptability and strategic thinking in the ever-evolving delivery landscape.