Built to Sell Radio Ep 540 From $40K to 8 Figures -- How Murray Kent Sold His Electrical Conduit Business for 6.2x EBITDA
Apr 3, 2026
Murray Kent, founder who turned a $40K, four-person electrical conduit shop into an eight-figure company and sold it for 6.23x EBITDA. He explains using Value Builder's eight drivers as a decision roadmap. He covers cutting customer concentration, building managerial ownership, negotiating a clean cash sale with a minimal warranty holdback, and how he told staff and rewarded his team.
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Give People Responsibility To Reduce Founder Dependence
- Step back and create ownership by involving staff in decisions so they execute without you.
- Murray spent factory hours coaching, gave people responsibility, and watched them run operations and sales.
Tamed A 50% Customer Concentration
- One customer once made up ~50% of Connex revenue; Murray focused sales and marketing to reduce that to the low 20s.
- They expanded geographically, improved marketing, and won market share as competitors faded.
Buyers Worry About Cross Ownership More Than Percentages
- Large customer concentration worries buyers not just for percent but for cross-ownership ties.
- Murray had to involve that customer's owner in meetings to reassure the acquirer the relationship would continue post-sale.
