HoldCo Builders

Steve Carroll, CEO and co-founder of Kelso Industries, shares his journey from nearly bankrupt to managing a billion-dollar company through strategic acquisitions of HVAC and mechanical businesses. He discusses the pivot from a broken first deal to a partnership-driven acquisition model that retains owner expertise. Discover the importance of local operations, innovative cash management, and recruiting talent to scale while preserving company culture. Plus, Steve reveals his best investment advice: invest in hardworking leaders!

Nick Hatchka, founder of Cube Investments, shares his impressive journey in acquiring over a dozen businesses. He discusses the allure of building a generator services platform in California, driven by growing power demands. Nick emphasizes the importance of choosing the right business models and partners, highlighting lessons learned from navigating seller-dependent companies. He also touches on the challenges and strategies of scaling operations, maintaining customer relationships, and fostering a conservative financial approach for sustained growth.

Explore the ambitious journey of raising $450 million for a private equity fund without any prior track record. Discover the importance of having complementary founder strengths and the lessons learned from costly fundraising mistakes, like hiring a disappearing rainmaker. Urs emphasizes a long-term focus on partnerships, especially with pensioners, and shares insights on thematic research that drives their investment strategies. Learn how innovative hiring practices and proactive due diligence set them apart in a competitive market.

In this insightful discussion, Alexis Sikorsky, an entrepreneur who achieved a nine-figure exit from his software company, shares his remarkable journey from launching West Africa's first ISP to navigating the pitfalls of growth and survival during economic downturns. He discusses his innovative APEX methodology for advising founders on successful exits, emphasizing the importance of agility and planning. Alexis also reveals the transformative power of M&A as a growth strategy and reflects on personal lessons learned throughout his entrepreneurial endeavors.

Nikolai Dimitrov, founder of Unity Investment Partnership and former professional footballer, shares his journey from sports to acquiring small businesses in Central and Eastern Europe. He discusses his unique approach to acquisitions, emphasizing the importance of terms over price and utilizing seller financing. Nikolai recounts his struggles during a 12-18 month dry spell and how he built a strong team despite initial setbacks. He highlights the value of effective post-acquisition management and the significance of culture in growing his firm.

Grant Hensel, founder of Entrepreneurial Capital, has an impressive entrepreneurial background with ten startups, including seven failures but also two successful exits. He dives into his passion for backing self-funded searchers and discusses his unique investment criteria focused on resilient SMBs. Grant shares hilarious anecdotes from buying a marketing agency for his wife, insights on the importance of operator quality, and why he believes self-funded search is a true grit test. Tune in for his thoughts on finding searchers and his post-acquisition playbook!

Dive into the fascinating world of search funds with insights from Tim Ludwig, who shares his journey from investor to operator. Discover the secrets of acquiring and running small businesses, including why emotional intelligence can outshine raw IQ in leadership. Learn about the evolving landscape of search fund investments and how to identify promising industries. The discussion highlights the importance of aligning values and maintaining communication for business success. Plus, get practical tips for navigating the competitive market of acquisitions!

Donza Worden, a former institutional investor and co-founder of Clear Peak Capital, shares his insights into the private equity landscape. He argues that many PE professionals aren't true investors, emphasizing the importance of independent sponsorship. Donza discusses his journey from a small town to the heights of finance and the pivotal conversations that shaped his career. He explores the nuances of acquisition challenges, the role of institutional capital, and his innovative investment philosophy that prioritizes intellectual curiosity over mere deal execution.

A seasoned operator shares his journey from selling a company to acquiring eight others. He emphasizes a strategic playbook tailored for growth, with a focus on obtaining businesses with $4M+ EBITDA. Key insights include how to structure deals for bank approval and the importance of reinvesting alongside sellers. The discussion reveals the significance of disciplined capital allocation and building a robust portfolio that appeals to larger investors. There's also a peek into creating engaging newsletters to enhance business strategy.

Doug Lapisto, co-founder of Sleeping Giant Capital, dives into the exciting world of local business acquisitions. He shares insights on backing seven searchers to close deals worth $34 million, focusing on operator-first strategies. The conversation covers sourcing regional deals, building resilient companies with university talent, and navigating the emotional complexities of acquisitions. Doug emphasizes the unique investment model influenced by industry greats and discusses the importance of fostering community impact while achieving investor returns.