Acquiring Minds Not Just a Young Man's Game: Acquiring at 60
Sep 20, 2022
Anne Ristic, a former managing partner at a law firm, took a bold leap into entrepreneurship by acquiring Agency Employment Services at age 60. She shares how Ruth Bader Ginsburg inspired her decision and discusses the unique challenges of financing a business in Canada. Ristic highlights her extensive industry research and growth vision for her company, alongside the nuances of navigating bank loans. She also addresses the importance of representation, encouraging more women to enter the business acquisition space.
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Navigating Canadian Bank Loans
- Canadian banks' lending comfort depends on the individual loan officer rather than institutional familiarity with search funds.
- Leverage connections to find the right banking contacts experienced with acquisition financing.
AES's Market and Services
- AES serves small to mid-sized businesses by providing outsourced HR, payroll, and temporary staffing services.
- The business leverages demand from local firms lacking full HR resources and cross-border US companies needing Canadian workforce support.
Due Diligence Balances Gut and Data
- Anne combined gut feeling and lawyerly diligence to validate AES's growth potential through detailed due diligence and financial analysis.
- She focused on testing hypotheses rather than relying solely on deep private equity-level industry study.
