Acquiring Minds

James Bohannon, Senior Vice President at Belzberg & Co., sheds light on family offices—private wealth management vehicles for families. He explains their structure, highlighting how they offer unique advantages to searchers and independent sponsors. Discover the importance of relationships for accessing family office capital, the preference for long-term investments, and the collaborative nature of family office investing. Bohannon also discusses the balance between flexibility and decision-making speed within these entities, making them appealing partners in the private market landscape.

Jack Saville, a former owner-operator who transformed a commercial fencing business after attending SMBootcamp, chats with Sam Rosati, the founder of SMBootcamp. They delve into Jack's motivation for entrepreneurship, the challenges of running a small business in a tourist town, and the importance of continuously questioning one’s purpose. Jack shares his journey of selling his business to Perimeter Solutions Group and how it led to new opportunities. This insightful conversation explores the risks, rewards, and lessons learned in small business ownership.

Mark Anderegg, an entrepreneur and the mind behind Little Sprouts, shares his journey in building a leading childcare platform. He discusses the challenges of raising a search fund and highlights his struggles as what he humorously calls the 'world’s worst searcher.' Mark dives into operational pitfalls, staffing woes, and the complexities of managing a childcare business. He also reflects on his growth strategies, the importance of culture, and lessons learned from selling his business, providing invaluable insights for aspiring operators.

Jerod Pierce, the owner of Olympic Holdings Investments and an acquisition entrepreneur, shares his journey from a challenging upbringing in foster care to closing a remarkable $90 million exit from an HVAC business. He discusses the importance of adaptability, the value of networking, and hands-on leadership in achieving growth. Jerod also highlights the significance of financial management and leveraging SBA loans, along with personal anecdotes about parenting and teaching financial literacy to his children in a privileged setting.

Doug Lepisto, founder of Sleeping Giant Capital and professor at Western Michigan University, explores the dynamic of place-based investing and its impact on local communities. He shares insights on balancing financial returns with social impact through innovative models that prioritize long-term growth. Doug discusses the unique advantage of building local trust and his philosophy of 'find the operator, find the deal.' He also details a structured approach to guiding aspiring entrepreneurs with personalized education, emphasizing ethics and integrity in business acquisitions.

Jeremy Hunka, the 27-year-old owner of Summit Cabinet Coatings, shares his rollercoaster journey of acquiring a cabinet business. He discusses the overwhelming first year, the struggle of managing employee expectations, and the critical need to hire a strong sales leader. Jeremy reflects on the lessons learned from navigating hostility and resistance, balancing empathy with decisive management, and ultimately installing a CEO to regain control of his life. His experience highlights the importance of effective leadership in transforming chaos into stability.

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.