Acquiring Minds

Gant Elmore and Matt Moldenhauer each bought $2m businesses they built over years. Today their holdco does over $200m. 
Register for the webinar:
Revenue Recognition & Quality of Revenue in SMB Deals - TOMORROW!! - https://bit.ly/4dMvx4w
Topics in Matt & Gant’s interview:
3 generations of acquisition entrepreneurs
Matt started as operator, became partner
Bain mentors warned Matt not to do ETA
Goal of owning 50 companies by 2050
Being the Ferrari in a price-competitive industry
Why they prefer holding to exiting
Challenge of giving control to an operator
Gant and his dad teach ETA together
War stories from small business operations
Demand exceeds supply of great businesses
References and how to contact Matt & Gant:
Elmore Companies
[email protected]
Matt’s LinkedIn
Gant’s LinkedIn
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
Get a complimentary IT audit for acquisition diligence or post-close transition.
Visit inzotechnologies.com/eta.
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Zack Mutnik thought he bought a $1.5m electrical contracting business for 2.3x. The numbers weren't what they seemed.
Register for the webinar:
Kill It Early: Spot Red Flags Before Spending on Diligence - TODAY!! - https://bit.ly/4eBVO6E
Topics in Zack’s interview:
Learning leadership in the Navy
Managing chaos with ADHD
Undisclosed surprises after acquisition
Replacing 8/10 employees
Heavy emphasis on company culture
Deciding to change the business name
Training his employees to be independent
Growing revenue despite a rocky start
Marketing is not a quick fix
Finding employees in a rural market
References and how to contact Zack:
TikTok
Facebook
LinkedIn
Get a complimentary IT audit for acquisition diligence or post-close transition.
Visit inzotechnologies.com/eta.
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Alicia Powers wanted to buy a general contractor but understood the risks in such businesses and negotiated accordingly.
Register for the webinar: 
Kill It Early: Spot Red Flags Before Spending on Diligence - Thu, May 14 - https://bit.ly/4wqiYU3
Topics in Alicia’s interview:
Air Force construction experience
Corporate job at an elevator company
Leading a shower remodeling startup
Layoff motivated her toward acquisition
Why franchising isn’t for her
Acquiring a small construction business
Getting her general contractor license
Specializing in home additions/ADUs
Tailwinds in the San Diego area
Surprisingly long sales cycle
References and how to contact Alicia:
LinkedIn
Price Builders
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Brendan Duebner's goal is to build a healthy, long-term business of 20-40 people. Buying a $1.2m MSP was his first step.
Topics in Brendan’s interview:
Learning to lead in the Army
Summer internship with Josh Medow
Cold calling is unpleasant but effective
Living and acquiring in the Bay Area
Working in the business before closing
Signs of seller integrity
85% seller note with no personal guarantee
Implementing EOS himself
Choosing to only hire local
His mission of building a tribe
References and how to contact Brendan:
LinkedIn
IT Total Care
Josh Medow on Acquiring Minds: How to Unlock Growth in a 40-Year-Old Business You Buy
Abhi Ravishankar on Acquiring Minds: The $50m Lifestyle Holdco
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Pioneer Capital Advisory
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Download the New CEO’s Guide to Human Resources from Aspen HR:
From this page or contact [email protected]
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron

Andrew Blazenko has made 6 acquisitions over the last ten years. Pairing businesses with operators is key to his model.
Topics in Andrew’s interview:
Background as a business broker
Wanted the exit joy for himself
Danger of low barrier to entry
Finding great operators to run his businesses
Business acquisition requires reps
Executive in Residence program
Requiring operators to invest in the business
Difficulty of raising equity in Canada
Shipping costs as a natural moat
Living as a “gentleman of leisure” 
References and how to contact Andrew:
LinkedIn
ProSafe
Eterna Equity
TrueFoam
The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:
The Acquisition Lab
Get a complimentary IT audit for acquisition diligence or post-close transition.
Visit inzotechnologies.com/eta.
Get a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or [email protected] and mention Acquiring Minds
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron