ETA Insider Podcast

Jake Levine, an MBA graduate and CEO of ROBO, shares his unconventional journey from political campaigns to leading an IT managed service provider. He discusses the challenges of search fund life and partnership dynamics after acquisition. Jake emphasizes the importance of self-awareness, trust-building, and adaptability in business. Listeners gain insights into both organic and inorganic growth strategies and the emotional rollercoaster of scaling a lower middle market business, providing a valuable perspective for aspiring entrepreneurs.

In this engaging conversation, Keith Burns, Co-chairman and CEO of Lullwater and Company and entrepreneurship professor at Chicago Booth, shares his dynamic journey from law to building a healthcare empire. He discusses the pivotal moment that ignited his transition and the crucial partnership with Michael Curry. Listeners will find insights on navigating acquisitions, the significance of aligned values, and the challenges of teaching entrepreneurship. Keith also emphasizes the emotional rollercoaster of entrepreneurship and the importance of lifelong learning.

This month’s episode of the ETA Insider Podcast welcomes Christine Koval, founder of Next Haven Group. Christine shares her journey from successful start-up Chewy to search entrepreneurship. She reflects on the strategic reasons for the e-commerce success story, the lessons learned from emotionally driven consumer businesses, and why she now prioritizes revenue quality in service-based industries. Christine also discusses how the ETA landscape has shifted, emphasizing the importance of storytelling, personal hustle, and authentic relationship-building in an increasingly competitive market.

In this episode of the ETA Insider podcast, we are joined by Michael Aubrey, Partner at Shore Search Partners. Michael shares his compelling entrepreneurial journey which has resulted in the creation of billions of dollars of equity value. The discussion begins with a heart-wrenching family story that ignited his entrepreneurial spirit, moves through his early days raising a search fund with his college classmate, and ultimately dives into scaling businesses in the medical products and veterinary medicine fields, respectively. The conversation delves deep into the strategic and tactical aspects of building and growing businesses, the importance of a competitive spirit, and the compounding value of long-term experience and learning in the realm of entrepreneurship.

Anthony Walker, Co-head at Next Coast Legacy and mentor in finance, shares his fascinating journey from Wall Street to entrepreneurship through acquisition. He delves into the evolution of ETA, emphasizing the crucial role of effective board governance in supporting new CEOs. Anthony discusses the importance of mentorship and relationship-building, highlighting how casual board dinners can enhance trust and communication. He also reflects on the analytical approach to entrepreneurship and the significance of financial education in shaping investment strategies.

In this month’s episode, we sit down with Mark Jackson, MBA ’11, Co-Founder of Centennial Investment Partners, and operator to several business he acquired through ETA. Mark talks about his journey into acquisition and lessons he's learned along the way. From transitioning out of investment banking to building a self-funded portfolio, Mark shares the challenges, strategies, and key insights that have shaped his approach to acquiring, growing and starting businesses. He also dives into the importance of sourcing tactics, forming strong partnerships, and recognizing new opportunities within existing companies. Whether you're an aspiring searcher or an experienced operator, this conversation is packed with valuable takeaways on scaling through acquisition.

In this engaging discussion, Brian Wolfe, a former PE M&A attorney now teaching at Washington University and UNC, shares his journey into entrepreneurship through acquisition. He emphasizes the critical role of a solid business thesis in enhancing equity returns, especially in software. Wolfe discusses effective strategies for targeting acquisition opportunities, notably in the MarTech SaaS space. He also highlights the rising demand in the HVAC sector for capital-light businesses. Tune in for valuable insights on navigating the evolving landscape of ETA.

In this month’s episode, Marcela Fernandez, founder of Olive Ridge Partners, discusses her journey into ETA alongside her husband, Andrew. Originally from Monterrey, Mexico, Marcela transitioned from biotech engineering and running a cidery to attending Stanford Graduate School of Business. The couple pursued ETA to stabilize their lives and quickly acquired Colorado Home Services, focusing on multi-trade residential services, achieving significant growth. They brought on a third partner to help manage operations and are now conducting a second search for new acquisitions. Marcela highlights the importance of aligned roles in partnerships, realistic expectations, and leveraging operational skills. She also talks about balancing work and personal life seamlessly, offering advice to other potential searchers.

Gabe Barkley, former CEO of MHW, a leading beverage alcohol importer, shares his entrepreneurial journey through acquisition. He delves into the complexities of the alcohol industry, discussing trends and operational nuances crucial for success. Gabe highlights the importance of mentorship in navigating search funds and emphasizes key strategies for creating equity value during acquisitions. He also reflects on his emotional exit from MHW, revealing future aspirations and insights for budding entrepreneurs in the ETA landscape.

Ryan Turbes and Clay Brownlee, partners at Boulay, share their expertise in helping entrepreneurs through the entire entrepreneurship through acquisition (ETA) lifecycle. They discuss the importance of early engagement with CPA firms for proactive financial planning. Strategies to navigate acquisition challenges, including tax implications and financial communication, are covered. The duo emphasizes the need for collaboration during transitions and the role of post-close accounting for professionalizing financial practices, ensuring smooth exits, and enhancing business value.