Acquiring Minds

George Vallone unpacks how he used cold outreach to find an off-market cleaning biz doing $1m and buy it for 2x EBITDA. Themes from George’s interview:Prioritizing recurring revenue in the search criteriaThe importance of messaging when approaching business ownersUsing a funnel approach in the searchThe differences between residential cleaning and commercial cleaningThe economics of apartment turnoverUsing customer service as a marketing toolGetting a good deal by betting bigHow to avoid cash flow crunch during transitionReach George at:george at george vallone dot comNuveldy’s Apartment Turnover Services

Before embarking on his search, Alex Glasner interviewed 50 searchers & uncovered 2 key attitudes necessary for success. Themes from Alex’s interview:Wanting to run a business, but not knowing where to startLearning from people whose searches failedThe importance of moving quickly with sellersBuying a mission and not just a jobThe value of being decisive in a searchMerging proprietary and brokered search stylesPausing to understand the business before making another acquisitionReach Alex at:alex at workpays dot co dot uk

Looking to buy a part-time online biz as he neared retirement, Dave Bramlett found it in a resume service doing $1.5m. Themes from Dave's interview:Making a career of buying small businessesBuying a functioning business allows for immediate cash flowFinding businesses on BizBuySellBring in the experts for due diligenceMaintaining a positive relationship with the sellerKnow your strengths as a buyerAlways be open to new businesses for saleReach Dave at:dave at resume writing group dot com

Brandon Adams bought a $850k EBITDA ice delivery company only to discover he'd be doing deliveries himself for 6 months. Themes from Brandon's interview:Doing a local proprietary searchIdentifying brokers you can trustManaging purchase price after an anomalous yearThe silver lining of a due diligence oversightBeing a great leader as a new ownerThe appeal of owning businesses in various industriesReach Brandon at:brandon at k4inv dot com

In this podcast, Damon Chlarson shares his criteria for buying a business and how he found them in an insulation supplier. They discuss defining acquisition criteria, finding your niche, imagining yourself in the job, tapping into people's talents, and finding opportunities in times of crisis. Damon also talks about mental health and business success, looking back and growing ambition.

Frustrated after losing 3 jobs, Bruce Vann used savings to acquire a 25-employee, 7-figure curtain manufacturer for 2x. Themes from Bruce’s interview:Paying 2x for a growing 70-year-old businessBuying a business to pull out of a career rutWhy finding a business is like a full court shotThe need for persistenceAbandoning a proprietary search because of seller overvaluationsChasing down leads and not becoming complacentThe importance of documenting business processes in case of sudden staff departuresDealing with uneasy staff during the transition periodThe experience of acquiring a business as a Black man in the U.S.Reach Bruce at:bvann at luxout dot com

After seeing 9-figure businesses built through acquisition, Adrian Pinto bought a landscaping biz to build one himself. Themes from Adrian’s interview:Buying a $3-5M landscaping business with 15-20% marginsPaying 3x, but rapid growth making it more like 2xWhat a buy-side advisor is and when it might make sense to work with oneHow COVID helped his search processWhy doing his own search was less stressful than a traditional search would have beenThe excitement versus the reality of acquiring bolt-ons to your platform businessBeginning with the idea of building a strong base for future growth (chassis concept)Waiting & observing for months before introducing changes to company processesReach Adrian at:adrian at georgia scapes dot com@Adrian_Pinto2LinkedIn

James and Palmer Higgins, co-founders of Chenmark, made the leap from successful Wall Street careers to acquiring small businesses. They discuss the power of delayed gratification and the intellectual trade-offs between corporate life and entrepreneurship. With insights from over 30 acquisitions, they share lessons learned, strategies for navigating increased competition, and the risks involved in buying small versus big. Their diversified approach to holding companies highlights the advantages of investing across various industries, while underscoring the importance of fit and values in long-term success.

Justin Turner, co-founder and managing partner of Traction Capital, shares insights from his journey in building a permanent equity fund with four acquisitions since 2018. He discusses why $4-5M businesses can be easier to acquire than smaller ones and the unique benefits of holding companies long-term. Justin reveals the surprising appeal of paving companies as solid investments and emphasizes the importance of nurturing seller relationships. He also outlines strategies for successful acquisition processes and the significance of building a diversified business portfolio.

In this podcast, the speaker shares their experience of buying a $760k appliance repair company. They discuss their specific search criteria, the decision to buy instead of starting a business, and the importance of choosing a steady industry. They also talk about the established sense of community in the business, the choice between using investors or not, and the focus on improving the business rather than day-to-day operations. The speaker emphasizes the importance of having fun and building trust with employees who don't work in the office.