Buyers and Builders

Dan Lifshits, co-founder and CPO of Dwelly who is building an AI-enabled lettings roll-up in the UK. He discusses why lettings are ripe for consolidation. He explains limits of organic growth and why acquisitions scale faster. He covers integration: replacing legacy CRMs, adding software and AI, and what makes an ideal acquisition target.

A deep dive into a company that bought 20 niche businesses and now trades at an eye‑watering valuation. Conversations cover why tiny, hard‑to‑replicate market leaders matter and how decentralized ownership and co‑ownership drive value. Highlights include portfolio design, disciplined M&A cadence, and the key risks to a serial‑acquirer model.

Lacey Wismer, investor and founder backing operator-led acquisitions and builder of Hunter Search Capital. She discusses buying to own for decades, how 35x and 100x outcomes arise from low entry multiples plus M&A, why the entrepreneur matters more than the business, picking unconsolidated niches with a clear right to win, and the tradeoffs of permanent capital and frugality in long-duration ownership.

A deep dive into why serial acquirers win through consistency, patience, and disciplined repetition. Discussion of starting slow to build systems and how reinvesting subsidiary cash fuels long-term compounding. Exploration of balance sheet strength, niche specialization, and operational levers that multiply across portfolios. A profile of a high-velocity holdco trying to scale an American version of a Swedish model.

Eric Wiklendt, a private equity operator and partner at Speyside Equity focused on lower-middle-market manufacturing buy-and-builds. He dives into messy manufacturing turnarounds, the fix-and-build two-phase playbook, fundraising and continuation vehicle decisions, and how operational value creation beats pure financial engineering. Short, tactical stories about transforming underloved industrials and scaling acquisitive platforms.

Kaido Veske, co-founder and managing partner at Livonia Partners who built a Baltic-focused PE firm, shares his move from US finance to raising a ~$200M fund. He discusses sourcing and the “kill list.” He recounts 16 acquisitions, the Thermory buy-consolidate-scale story, lessons on leverage and fund sizing, and why the Baltics offer big opportunity for dedicated buyers.

Travis Jamison, co-founder of CapitalPad and serial founder turned active investor. He walks through building a deal-by-deal private equity platform. Hear how the platform sources and vets sponsors, what typical deals look like, lessons from 10 acquisitions, portfolio sizing and illiquidity advice, and what top searchers do to keep investors engaged.

Vic Keller, serial operator who built 17 companies with 9 exits and a vertically integrated car wash platform, explains why he prefers deal-by-deal investing and an operator-first approach. He discusses building durable, people-driven businesses, vertical integration in car washes, hiring A-players, conservative leverage, and choosing the right co-invest partners.

Strategies for creating repeatable inbound deal flow in the $2M–$200M founder-led market. How to make relationships compound by becoming a familiar presence and curating venues that attract opportunities. Lessons from art-world flywheels and modern “yacht” platforms like media and events. Practical ideas for building a market map, hosting gatherings, and turning public work into gravitational deal sources.

Millen Rastogi, CEO who left Deutsche Bank to rebuild his family home care business and lead a roll-up. He tells how he funded growth with creative credit, PPP and seller financing. Short stories cover messy compliance, a scrappy first buy, a $3.5M deal with 70% seller financing, walking away from bad deals, and using AI to speed M&A diligence.