Acquiring Minds

Mike Fagan, a former professional bowler and PBA world champion, dives into his unique transition from the lanes to the business world. He discusses his acquisition of a bowling center and the strategy behind revitalizing traditional alleys. Fagan explores the economic importance of league bowlers, contrasts legacy bowling with modern chains like Bowlero, and shares insights on operational improvements using tech. He reveals challenges like employee resistance to change and innovative ways to boost revenue, including impactful online booking solutions and targeted marketing.

Tato Corcoran, an entrepreneur and owner of Brandt Molded Marble, shares her journey from tech to manufacturing. She discusses her bold strategy of using direct mail to find business deals and her initial struggles with a 'glorified job' that masked true operational costs. Tato reveals how she tackled labor shortages by hiring immigrant workers through Facebook groups and learning Spanish to bridge communication gaps. She also shares her success in raising prices by 40% without losing customers and ultimately doubling revenues.

Christian Bateson, an acquisition entrepreneur and former Wall Street analyst, shares his incredible journey from the financial crisis to buying Resolute Construction Cleanup Services. He reveals the qualities that make a top salesperson and how business acquisition helped him escape a miserable career. Christian discusses the challenges of hiring in construction, lessons from his second acquisition, and his ambitious $100 million revenue goal. He emphasizes the transformative power of small business ownership and the importance of leaning into one's strengths.

Philip Hussey, CEO of Thomas Moser and a key figure in Chenmark's acquisitions, shares insights on leading a premier furniture brand known for exceptional craftsmanship. He discusses the unique challenges of managing a legacy brand without being a craftsman himself and the importance of a strong quality culture. Hussey highlights the company's commitment to customer experience, talent development through their woodworker school, and plans for growth in luxury markets, all while preserving the Moser legacy.

Robert Gaden, an acquisition entrepreneur and owner of BrightStar Care of Greater Waukesha and Lake Country, shares his journey from finance to home care. He discusses the emotional impact of his father's passing on his career choices and the appeal of the home health care industry. Gaden describes his lengthy 17-month acquisition, revealing insights about revenue growth and the importance of strong seller relationships. With a focus on scaling, he emphasizes prioritizing sales over margins and how operational involvement shaped his success.

Scott Duncan, an entrepreneur and former owner of F&M Tool & Die, shares his rollercoaster seven-year journey in acquiring a business that ultimately failed. He discusses the harsh realities of customer concentration risk and the challenges of managing a skilled but temperamental workforce. Scott reveals painful lessons on employee theft, operational distress, and financial strain during COVID. Despite the collapse, he highlights the relief and insights gained, considering the possibility of pursuing another acquisition in the future.

Andy Rougeau, a former Army officer turned entrepreneur, talks about his impressive journey in scaling RG Maintenance, a blue-collar business. He shares how military leadership skills and a hands-on approach were pivotal in launching remote business territories. Andy discusses his $9 million exit to private equity and his transition to investing in self-funded searchers. He reflects on challenges like employee issues and market dynamics while highlighting the importance of treating all jobs with respect—no matter how dirty.

Steve Carroll, CEO of Kelso Industries, shares his journey from SBA searcher to leading a MEP powerhouse grossing over $1 billion. He reveals the challenges of scaling and the importance of integrated MEP services. Carroll discusses learning from failed acquisitions, the myth of passive income, and the intensive work ethic required for success. He highlights how partnerships can drive value, his experience transitioning to a CEO role, and the formula for replicating growth in small businesses. Tune in for insights on entrepreneurship and managing high-stakes deals!

Jake Bittner, an entrepreneur and former CEO of a GovTech data analytics firm, shares his captivating journey from acquiring a struggling carve-out for $600k to selling it for $35m. He discusses the pivotal moment when he pivoted the business, leading to a revenue surge of $20m and ultimately attracting private equity interest. Bittner also delves into the importance of valuing a money-losing company, the intricacies of deal structuring, and the post-sale challenges he faced, while now focusing on investing and coaching the next generation of entrepreneurs.

Dave Gilbert, founder of Proven and former tech entrepreneur, shares his journey of acquiring a struggling accounting business. He details the challenges faced, such as unexpected revenue drops and staffing issues, after initially passing on the deal. Dave emphasizes the importance of adapting corporate culture and recruiting top talent, while also exploring the benefits of fractional executive roles in the evolving business landscape. He compares turnaround strategies to startup founding, highlighting the complexities involved, particularly under financial pressure.