Buyers and Builders How I Left Real Estate PE, Bought 6 Companies and Sold To A Strategic Buyer In 23 Months
Jun 20, 2025
Mike Botkin, Partner and CEO of Canvas Outdoors, transitioned from a real estate private equity COO to acquiring a $780K landscaping business. He discusses taking risks despite feeling unqualified and how he scaled up through six strategic acquisitions in just 23 months. Mike emphasizes the importance of focusing on profitable customers and the role of talented leadership in successful acquisitions. He shares insights on increasing operational efficiency and the significance of finding mid-career owners rather than tired sellers.
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Boost Margins with Direct Reports
- Use direct report sites where teams report from job sites, not branches, to cut wasted labor time.
- This logistical change can boost margins dramatically overnight on long-term projects.
Acquire Talent, Not Just Assets
- Mike bought businesses mainly to acquire outstanding leadership teams, not just assets.
- Strong leaders helped build the company even when the business itself was weak financially.
Buy from Mid-Career Owners
- Avoid buying businesses from tired sellers near retirement; they often neglect investment and growth.
- Mid-career owners looking for a simpler life make better acquisition targets as they still engage actively in their business.
