Acquiring Minds The Flywheel of Buying Businesses in a Single Region
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Sep 11, 2025 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.
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Grant Immediate Equity To Secure Operators
- Offer founders meaningful immediate equity to signal ownership and entrepreneurial control.
- Structure additional equity to vest over time and on long-term performance metrics aligned with hold strategy.
Invest In Regionally Rooted Sectors
- Sleeping Giant's portfolio skews manufacturing and region-specific industries tied to West Michigan supply chains.
- That industry focus reduces relocation risk and preserves local jobs and capex footprints.
Win In The Middle-Market No-Man's Land
- Target companies sit in a middle zone: too big for SBA, too small for platform PE.
- That 'no-man's land' creates unique opportunities for a place-based, long-hold buyer.
