Still 3 seats available for the early access, discounted price, for the next Buy and Build Accelerator.  https://www.buyandbuildaccelerator.com/ ----------------------------   In this episode of Buy and Build, we chat with Toby Henry, founder of Full Circle Capital, who shares his rapid journey from starting his search to closing his first acquisition in just six months. Toby dives into how he balanced a full-time job while navigating the self-funded search process, leading to the acquisition of Accelerator Solutions. We explore his creative deal structuring, the importance of partnering with the right people, and how family support played a key role in his decision-making. Tune in to hear valuable insights into Toby's criteria for selecting a business, his approach to growth, and future plans for Full Circle Capital. Whether you're beginning your acquisition journey or looking for strategies to accelerate your own, this episode offers a wealth of knowledge for entrepreneurs in the UK ETA space. ---------------------------- For those interested in learning more about EOS, reach out to Rob Liddiard to book you free introductory session. https://www.mission-group.co.uk/ 

Sign up now for the early access discounted price for the next Buy and Build Accelerator. https://www.buyandbuildaccelerator.com/ ------------------------ In this inspiring episode, Tobyn Brooks shares his incredible journey from overcoming personal challenges to building a thriving business with The Figaro Shop and now rolling up vehicle service centers.  At the age of 13, Tobyn dropped out of school and fell victim to addiction, and shortly thereafter became a drug mule. After having spent 15-20 years on the streets, undergoing multiple surgeries to repair the damage done to his body, Tobyn incredibly turned his life around. It was not an easy journey but through incredible resilience and a motivation to do good in the world, he has grown an incredible business and achieved some phenomenal athletic achievements along the way.  On the business side, Tobyn's insights into leadership, operational efficiency, and the future of the automotive industry make this a must-listen for entrepreneurs and business leaders alike. We hope you enjoy this inspiring and moving episode.  https://www.linkedin.com/in/tobyn-brooks-7492642a/  -------- For those interested in learning more about EOS, reach out to Rob Liddiard to book you free introductory session. https://www.mission-group.co.uk/ 

Early bird access is live for the next B+B Search Accelerator, at a reduced fee for the first 5 sign-ups.  https://www.buyandbuildaccelerator.com/  The date is still TBD but any conflicts can be refunded or rolled to the next event.  Enjoy the podcast.  ----- In this episode, we sit down with Fouzan Ali, an operator-turned-investor who recently closed his first acquisition, a 32-year-old business with strong foundations and growth potential.  He shares his unique approach to scaling while focusing on operational efficiency and long-term value creation. We dive into his search process, key acquisition criteria, and the importance of building trust with sellers. He also discusses balancing risks and opportunities, as well as the need to address inefficiencies before considering further expansion or roll-ups. Tune in to hear thoughtful insights on building a lasting business while driving growth. ------ For those interested in learning more about EOS, reach out to Rob Liddiard to book you free introductory session. https://www.mission-group.co.uk/ 

Only 1 week to go to until the Buy and Build Search Accelerator. If you want to acquire a great business, quicker, come and learn from these experts. https://www.buyandbuildaccelerator.com/  -------------------------------------- In this episode of The Buy and Build Podcast, host Paul chats with Mark Wharrier, co-founder of Scientific Partners, about his transition from UK equity fund management to acquiring niche industrial businesses. Mark shares insights into his acquisition strategy, focusing on founder-led, high-margin companies with untapped growth potential. Tune in to hear Mark's thoughtful approach to long-term investing, fostering founder relationships, and growing businesses without the pressure of debt.

This week on Buy and Build, we sit down with Harry Morton, founder of Lower Street Media, a full-service podcast agency that recently made headlines by acquiring Pacific Content, the leading name in branded podcasting. In this episode, Harry shares the fascinating backstory behind the acquisition. When Rogers Communications decided to offload Pacific Content as a non-core asset, Harry saw an exciting opportunity. Leveraging his strong relationship with Pacific Content’s senior team, he moved quickly to seal the deal. Of course, the road to acquisition wasn’t without its challenges—tune in to hear how Harry navigated them. We also dive into why Harry started Lower Street Media in 2017, the evolving trends in podcasting, and his vision for the future as he integrates Pacific Content and continues to scale. It’s an episode packed with insights for anyone interested in podcasting, acquisitions, or entrepreneurial growth!

This week Paul gives a quick update on his first 2 years operating Amber Home Improvements, the future of the podcast, and past and future investing activities with Citium Capital.  --> If you are a searcher looking to acquire the right business quicker while avoiding costly mistakes. Check out the Buy and Build Accelerator and sign up before seats get sold out. https://www.buyandbuildaccelerator.com/  For those interested in learning more about EOS, reach out to Rob Liddiard who is offering a free introductory session to those in the community. [email protected] 

This week we speak with Steve Lawrence, CEO of Uncomplicated Group. Uncomplicated Group is looking to buy injection moulding businesses from exiting or retiring owners.  As hands-on operators, they have completed their first acquisition and are actively seeking more.  During the episode we get into how Steve heard about ownership via acquisition while working within the sector he eventually acquired in, we discuss his investment thesis for the group, and we dive into the challenges of operating a smaller, more resource constrained injection moulding business. Paul and Steve also get into how they are both using [and benefiting] from the Entrepreneurial Operating System (EOS) within their small businesses.  There is a lot to takeaway from this free flowing conversation so we hope you enjoy it as much as we did. --------- To reach out to Rob to book your free EOS intro session, learn more here:  https://www.mission-group.co.uk/ or reach out to him on LinkedIn: https://www.linkedin.com/in/robertliddiard/ 

This week, our guest is Tara Mandal, Partner and COO of PEAL Capital Partners. Before joining PEAL, Tara had an illustrious career at J.P. Morgan, where she crossed paths with Paul in Geneva. We’re also joined by Allison Stuckless as co-host. Allison, also a former J.P. Morgan alumna, is now a UK- based traditional search fund entrepreneur.  PEAL Capital Partners is a female-founded, European based, lower mid-market private equity firm specializing in control investments within the rapidly growing sector of Longevity and Hormones.  During the episode we cover why the PEAL team decided to pursue this investing niche, why they think the addressable market is underestimated, the team's 3 fund playbook, current acquisitions, and how they partners with operators/doctors to drive deal flow.  This is a fascinating episode that covers a trending yet very niche investing topic. We hope you enjoy it as much as we did!

If you are a UK-based searcher looking to accelerate your search, we are running another full-day Search Accelerator on the 26th of September. Learn more here:  https://www.buyandbuildaccelerator.com/  ------- This week we speak with Tom Billings, Managing Partner of Beach Equity. Beach Equity invests £2-10m in SME buyout and growth investment opportunities. During the episode we discuss Tom's fascinating background starting with studying in the US, then leading a PE-backed company in China, to starting Beach Equity. We also discuss what makes Beach equity unique, what they look for when assessing both growth capital and buyout opportunities, investments and buyouts done so far, and future plans.  We hope you enjoy this awesome episode as much as we did! --------- To reach out to Rob to book your free EOS intro session, learn more here:  https://www.mission-group.co.uk/  https://www.linkedin.com/in/robertliddiard/

To accelerate your search and acquisition journey, join the next Buy and Build Accelerator, in September.   https://www.buyandbuildaccelerator.com/  This week we speak with Will Hunnam, the former searcher-turned-CEO of Forza Doors. Will has a fascinating background which lead him to decide to take the ETA path.  Early in his ETA journey, Will was considering acquiring a £1-2m revenue self-funded deal but ended up acquiring a £30m revenue business with the help of a group of investors, using the more traditional search fund path.  During the episode we discuss Will's ETA journey, his partnership with Novastone Capital, how he sourced targets including Forza Doors, why he likes the sector he acquired in, and the highlights and challenges of running a business. We hope you enjoy the episode!

To accelerate your search and acquisition journey, join the next Buy and Build Accelerator, in September.  https://www.buyandbuildaccelerator.com/ This week we speak with Jack Minns, Corporate Transactions partner at Larking Gowen. Jack has a wealth of corporate finance experience, generally representing sellers looking to exit the business.  During the episode, we discuss the definitions and components of working capital, the common issues and contested areas, and the adjustment mechanisms post-close, namely a working capital peg or the locked-box method.  We hope you enjoy this conversation with Jack as much as we did.  If you want to find out more about EOS, reach out to Rob Liddiard at https://www.mission-group.co.uk/. Rob is very open in sharing his experience with EOS in his startup and his new passion for helping other owners implement the system in their businesses. 

In this episode, we speak with Jim Ward about his inspiring acquisition journey to acquire a successful family-led business in the chemicals industry. Jim is an experienced chemical engineer and MBA graduate who had considered the ETA path for some time before taking the leap.  In this episode, Jim shares his thoughtful insights to searching in the UK. Jim took what would be considered an unconventional approach to searching, sector selection, deal origination, and fundraising; but that wasn't going to stop him. It is clear that all Jim's decisions were very well researched and supplemented by the wisdom of the influential people he met during his search journey.  There is a lot of unique perspectives to take away from this episode so we hope you enjoy the conversation as much as we did! ----- If you are a new searcher, the second Buy and Build Accelerator has been announced and is scheduled for the 7th of June 2024.  So, If you're struggling with deal flow, structuring deals, or raising funds, this one is for you.  Check out the Buy and Build Accelerator to learn more.  

In this episode, we explore the dynamic UK debt landscape with a new searcher, Scott McGregor. Scott brings extensive experience in finance and private equity, and as a new searcher, he recently undertook the task of examining the broader UK SME cash flow lender landscape. He then shared his findings on Searchfunder, generating considerable engagement. We thought it would be beneficial to bring his insights to a wider audience through this podcast. Scott does a fantastic job communicating his findings with clarity of thought and a deep understanding of the topics.  You are going to love this episode! ----- If you are a new searcher, the second Buy and Build Accelerator has been announced and is scheduled for the 7th of June 2024.  So, If you're struggling with deal flow, structuring deals, or raising funds, this one is for you.  Check out the Buy and Build Accelerator to learn more.  

In this episode, I had the pleasure of reconnecting with Sam Turner, a friend and return guest to the podcast. Sam was a guest on episode 20, about 2 years ago. At that point, he had completed his first acquisition and he laid out a very ambitious growth plan.  Since then, Sam has completed a further 3 acquisitions and although his sector strategy has broadened, it is fair to say his goals are even more ambitious than 2 years ago. We love to see that! During the episode we recap Sam's journey thus far, the challenges and strategies he used to find the right debt partner, his experience bringing in key hires, and his goals going forward. We hope you enjoy this fantastic conversation with Sam! ----- Finally, the second Buy and Build Accelerator has been announced and is scheduled for the 7th of June 2024.  So, If you're struggling with deal flow, structuring deals, or raising funds, this one is for you.  Check out the Buy and Build Accelerator to learn more.  

In this episode, I had the pleasure of discussing the intricacies of acquiring and operating a franchise operation with Ruth Brown, COO of Home Instead, and Mahdi Kaz, a multi-unit franchise owner within the Home Instead network.  We cover a lot of ground in the episode including: Common misconceptions of the franchise model, The resale and acquisition opportunities, The benefits franchising offers, especially in sectors like healthcare and social care, The importance of partnership between franchisor and franchisee within the Home Instead model, and finally Mahdi shares his personal journey of transitioning from a career in engineering to becoming a multi-unit franchise owner with Home Instead.  We hope you enjoy this informative area exploring another area in the acquisition space. ----- Finally, the second Buy and Build Accelerator has been announced and is scheduled for the 7th of June 2024.  So, If you're struggling with deal flow, structuring deals, or raising funds, this one is for you.  Check out the Buy and Build Accelerator to learn more.  

Today we speak again with Jordan Hammond, who returns to speak about his experience implementing EOS in his business. As a reminder, Jordan owns Genuine Comfort, which he grew from scratch to $5m in turnover before turning to strategic acquisitions to nearly triple his top line while simultaneously doubling the profit margins. To learn more about his acquisition journey, jump back a couple of episodes to learn more! According to Jordan, a big part of successfully integrating those acquisitions and the subsequent growth was due to the Entrepreneurial Operating System. During the episode, we explore the role of EOS implementers, the evolution of organizational structures, and the challenges and strategies for hiring the right people. Jordan shares insights into overcoming resistance to change and maximizing EOS for sustainable business growth. Throughout the conversation, we emphasize the importance of aligning core values, defining clear roles, and fostering a culture of continuous improvement to drive operational excellence and success. Enjoy this fantastic conversation! ---------- If you are a UK searcher looking to acquire a great business, check out the Buy and Build Accelerator- a program designed to help you acquire the right business, quicker. Paul founded the boot camp but the curriculum is developed and presented by former guests of the podcast. The next cohort of peers is incredible, you should consider joining them: https://www.buyandbuildaccelerator.com/  ------ Follow Jordan on LinkedIn: https://www.linkedin.com/in/jordan-hammond-9a79562a/   

In this episode, I had the pleasure of sitting down with Rob Liddiard, a professional Entrepreneurial Operating System (EOS) implementer, to reflect on an insightful morning where he introduced the EOS principles to my team at Amber Home Improvements.  Before becoming an EOS implementer, Rob was the founder and CEO of Yapster, a workplace messenger app for frontline organisations. Rob self-implemented EOS in his startup and the impact on his business was profound. Since exiting Yapster, Rob has been focusing on helping others implement EOS in their business.  During the episode, Rob and I work our way through the different components of EOS, getting my initial takes, while Rob enriches the discussion with his deeper understanding and personal experience with EOS.  We hope you enjoy the conversation as much as we did recording it.  Be sure to follow Rob on LinkedIn: https://www.linkedin.com/in/robertliddiard  and check out his EOS site for more information: https://www.eosworldwide.com/rob-liddiard  ------- If you are a UK searcher looking to buy a great business, check out the Buy and Build Accelerator. The curriculum is highly practical and developed and presented by former guests of the podcast: https://www.buyandbuildaccelerator.com/ 

In this episode, we are joined by Matthew Bradley. Matthew is the founder of Tikto Capital, a private investment firm investing in and acquiring UK SMEs and tech businesses. Before Tikto, Matthew was the CIO and CFO of Forward Partners, a publicly-listed venture capital firm.  During the episode, Matthew shares valuable insights into his investment and deal origination strategy, how he pivoted to minority investments throughout last year (2023), and the importance of engaging with businesses that are genuinely open to selling. We also spent time discussing some interesting sectors Matthew has gone deep on and what his findings were.  It is always a great time chatting with Matthew and we hope you enjoy the conversation too! ------- If you are a searcher looking to acquire a great business, check out the Buy and Build Accelerator. The bootcamp curriculum is highly practical and developed and presented by former guests of the podcast: https://www.buyandbuildaccelerator.com/  Enjoy!

In this episode, we are thrilled to have a returning guest, Rob LeBlanc— Co-Founder & Managing Partner of Ambit Partners. Rob brings a wealth of experience in traditional search fund investing, particularly in emerging markets, investing in 80 search funds across 30 countries.  During the episode, Rob delves into the intricacies of Ambit Partners' searcher selection process, the importance of a strong local cap table, and the most interesting markets they have invested in Fund I. We also get into the plans for Fund II. Exciting times! ------- If you are a searcher looking to acquire a great business, check out the Buy and Build Accelerator. The bootcamp curriculum is highly practical and developed and presented by former guests of the podcast: https://www.buyandbuildaccelerator.com/  Enjoy!

Today we speak with Jordan Hammond, owner of Genuine Comfort. Jordan grew his business from scratch to $5m in turnover before turning to strategic acquisitions to nearly triple his top line while simultaneously doubling the profit margins.  During the episode, Jordan shares his unique approach to reaching out to competitors, building relationships, and ultimately executing successful acquisitions. He walks through the crucial role transparency plays in fostering trust during these intricate negotiations. We also discuss the difficulty in integrating those acquisitions effectively and even the importance of a business operating system like EOS. If you are looking to acquire a great business, check out the Buy and Build Accelerator- a program designed to help you acquire the right business, quicker. Bootcamp was founded by Paul but the curriculum is developed and presented by former guests of the podcast: https://www.buyandbuildaccelerator.com/  Enjoy!

This week, we wanted to publish an episode that was released a while back but feels very relevant given the current debt financing market. The listenership has grown significantly since this was released so you may not have heard this.  Royalty financing is an interesting alternative financing offering for buyouts or equity releases. It mixes certain elements of debt and equity in an attempt to better align with owners. In the episode, we get into the details of royalty financing and the types of businesses best suited for it. If you are looking to acquire a great business, check out the Buy and Build Accelerator: https://www.buyandbuildaccelerator.com/  Enjoy!

This week we speak with Alexi Jones, a former investment banker- turned startup founder and now acquisition entrepreneur.   Alexi now heads up Viso Logistics, a business acquisitions group building a next-generation UK logistics network. During the episode, we discuss Alexi's first acquisition of Jag Express, his deal sourcing and acquisition strategy, why he decided on this sector and his future plans This week we also announced the Buy and Build Accelerator. If you are a searcher, check it out to learn more:  https://www.buyandbuildaccelerator.com/  Enjoy!

This week we speak with co-host Graeme Wallis to discuss the successful raising of his search fund, Hargrave Succession.  We discussed his fundraising process, how he built an investor network, and the importance of having a complimentary cap table. We also dive into the types of companies Graeme is searching for and his internship program.  Graeme then turns the tables and gets an update from Paul. Enjoy!

This week we speak with Sandy Farmer and Jo Cockburn from Ethos Partners - entrepreneurial providers of supportive capital for cash-generative, fast-growing, ambitious UK and European companies. In this episode, we dive into the fascinating journeys of Sandy and Jo, the story behind the founding of Ethos, and its mission to bridge the gap between retiring business owners and aspiring investors.  We then dive into the search fund/ ETA ecosystem. We discuss why the asset class fits their investment strategy, how they feel they can add unique value as investors, their investment criteria, and past deals.  Enjoy!

This week we speak with Ritz Steytler, CEO of Abacus Partners and a senior advisor at Vonzeo Capital. Ritz is also the co-founder and CEO of Axora, an innovative B2B marketplace driving digital transformation for industrial companies. In this episode we dive into Ritz's journey as a searcher and operator of PXP Solutions, including his role in the acquisition of omnichannel payment processor PXP solutions by Abacus Partners, a payments business that underwent a transformation, leading to a significant exit. We delve into the challenges he faced, his experiences in various industries, and his current role at Abacus Partners, guiding growth businesses. Tune in now!

This week we speak with Dr Ewan Lloyd-Baker, an accomplished entrepreneur with an extensive background in turnarounds, corporate finance, and M&A.  In this episode, Ewan shares his experience acquiring and growing a 200-year-old manufacturing company. We discuss the benefits of acquisitions and reverse mergers and the pros/cons of running a publicly listed entity. We also delve into the key insights from the eventual exit in 2018.  Ewan is a natural leader with a wealth of knowledge. We hope you enjoy this fantastic conversation!

This week we replay an episode where Paul was a guest on the Build and Exit podcast hosted by Julie Wilkinson. Julie does a great job at chronicling Paul's search journey and they cover a lot of topics that the listeners often ask about. So I hope this is helpful! Check out Julie's podcast: Build and Exit

Bent Flyvbjerg is the first BT Professor and inaugural Chair of Major Programme Management at Oxford University's Saïd Business School and the Villum Kann Rasmussen Professor and Chair in Major Program Management at the IT University of Copenhagen. He recently published a new book titled How Big Things Get Done, which breaks down the key elements of successful project management.  In this episode, Professor Flyvbjerg discusses how he became interested in the execution and management of mega projects and how this has become a global phenomenon. He emphasizes that successful project management is not limited to big projects but applies equally to small projects such as house renovation or wedding planning. He also shares some of the most memorable and technically interesting projects he has studied, highlighting the importance of framing problems, leading complex projects, and building teams. Enjoy!

This week we speak with Ayo Disu, Co-founder at Octillion Capital Partners (OCP). OCP is an eCommerce acquisition company that acquires, operates, and builds culture-defining, socially conscious consumer brands. In this episode, we discuss OCT's first acquisition of Lean Caffeine, a health-conscious coffee company that also sells superfoods like bone broth and MCT oil. Ayo talks about the synergies between the missions of Lean Caffeine and Octillion Capital Partners, and how the acquisition has been a great addition to their portfolio. Ayo also shares their future plans for growth and the company's evolving thesis. Tune in to hear the inside scoop on growing an eCommerce company. Enjoy!

This week we speak with Bruno Lea on the latest episode in the ETA mini-series. Bruno launched the first traditional search fund in France in 2018, Lea transmission SAS. Since acquiring, Bruno is the current president of Haas Automation in France and Spain. He also completed his MBA at IESE  Business School and worked as an associate director of MBA admissions there. During the episode, Bruno shares how he discovered the model during his MBA and how he initially thought it was a model that could only work in the US. Bruno also talks about the challenges of finding investors in France who were not familiar with the model but managed to secure US investors who were keen on investing in the French market. Bruno also talks about deal sourcing, capital markets and operational dynamics in the French market. This is truly a fantastic conversation and a great primer for anyone considering searching or investing in France. Enjoy!

This week we speak with João Diogo Stoffel, founder of the first traditional search fund in Portugal in 2017. After the successful completion of his search in 2019, João now runs Project To Be, an organization focused on the early education sector with the aim of operating a group of Portuguese and Spanish family-oriented schools. During the episode, Joao shares his journey into the world of ETA from his time at IESE Business School. We also discuss the importance of understanding a market like Portugal (this includes culture and being able to connect with owners), how he pursued an evergreen strategy in the early education sectors after learning of the success in other markets, and the strategies he has executed on whilst running the business, which includes the first 2 years during covid.  We hope you enjoy this very insightful episode!  

This week we speak with Gautam Basu, the managing partner at True North Search. Gautam has 30 years of experience executing M&A transactions and is a Professor of Practice, a board member, and an entrepreneur in the acquisition space. In this episode, we explore ETA in the Nordics. Gautum shares his experience educating both investors and searchers on this new and exciting market. Gautam also discusses the different aspects that make the Nordics an attractive ETA region, including the demographics, the capital markets, and the industrial base. With two successful deals under his belt, he provides a unique insight. Enjoy!

This week we speak with Tobias Raeber, a former searcher and now seasoned investor and advisor. In 2013, Tobias raised the first partnered search fund in Europe, focusing on Switzerland and Germany. In this episode, we discuss the Swiss and German markets and how they compare to other ETA markets in Europe. Tobias also shares his insights and experiences fundraising in a new market without the typical MBA experience, and we also discuss his successful (partial) exit from the business he acquired in 2015. Enjoy!  

In today's episode, we welcome back Jan Simon, a well-known figure in the ETA community. Jan is the Managing Partner of Vonzeo Capital Partners and is also a lecturer and professor at various business schools. In this episode, we continue our regional mini-series by discussing the ETA/search fund market in Spain, the second-largest market for search funds outside of the US.  We start off by discussing the history of search funds in Spain. We get into other ETA models and Jan explains how market maturation leads to other ETA models developing. Jan also goes into detail as to why Spain is an attractive market for ETA. We hope you enjoy!

In this episode, Paul and Graeme are joined by Simon Webster, who raised the first search fund in the UK in the 1990s. That acquisition was an incredible success but not without its challenges. Since then, he has exited a few turnarounds and invested in over 50 search funds. He is also very involved in several key business schools across Europe as an advisor and lecturer for all things ETA. Simon shares his story of how he first learned about search funds and his thoughts on the UK market in the 90s. He also discusses the challenges and opportunities of being an entrepreneur and offers advice for those interested in the ETA journey today. Enjoy!

This week we speak with Luis Reyes, managing partner of Iberian Ventures. Luis discusses why his second acquisition, which was in the fire protection sector, has caused his fund to focus almost exclusively on consolidating the industry. Luis explains why the sector is attractive, why rolling-up smaller operations make sense, and how to acquire below the levels of the PE. Paul and Luis also discuss the similarities between the sectors across the UK And Spain. Enjoy!  

This week we speak with Craig Brennan, founder and CEO of The Little Sports Group. Craig is building a group of companies in the sports, education and childcare sectors. After growing his first company to £1M in revenue organically, Craig acquired a competitor and doubled the size of his business overnight. Since then he has completed 7 acquisitions in the last 18 months.  In this episode, we discuss what makes the sports, education, and childcare sectors so compelling. We also discuss how Craig sources and structures deals, his insights on hiring key management, and his future plans. Enjoy the episode!

This week we speak with Graeme Wallis who is embarking on his ETA journey by pursuing a traditional search fund. Graeme is passionate about ETA and the UK ecosystem, and he will be joining us on future episodes.  In the episode, Graeme shares how he leant about search funds, and why the traditional route appealed most to him, and then Paul and Graeme discuss the differences between traditional and self-funded search funds and the UK- specific nuances. Enjoy!  

This week we speak with Mike Hindi, Chairman of Green Logistics Groningen. Mike searched for his company as part of the Novastone searcher cohort and acquired his company in The Netherlands, will living in Switzerland.  In the episode, Mike discusses the importance of people and building relationships for both the operational stage and for a smooth acquisition process. Mike also discusses why he was so attracted to the business he acquired, the complexities of a cross-border transaction, and the thrills of the search. We hope you enjoy the episode as much as we did. 

This week, we speak with Julie Wilkinson -  a Chartered Accountant, Virtual CFO, and M&A specialist helping ambitious business owners buy and grow SMEs. In this episode, we cover deal valuation and structuring, financial and operation due diligence, building a group and the nuances of group reporting and cash flow. If you are looking to buy multiple businesses- this is a great episode to listen to. 

This week, we speak with Nick Bradley. Nick is an experienced entrepreneur, CEO, and investor in SMEs. Nick now partners with business owners to scale and eventually exit their businesses. Nick helped grow Getty Images via acquisition around 2008-2010 and more recently helped scale Ascend Learning to an eventual sale to Blackstone PE.  Nick also hosts  Scale Up With Nick Bradley, which is one of the top-ranking business podcasts in the UK. In this episode, Nick shares some fascinating stories on how he scaled and exited some fantastic businesses [including a couple of $Bn exits to PE], how he would partner with PE as an operational turnaround expert,  his thoughts on SME acquisitions in both the UK and the US, and how he partners with businesses of different sizes to scale and exit. Enjoy this excellent episode!

This week, we speak with Logan Naidu, Founder, and Group CEO - of Kernel Global and Dartmouth Partners. Dartmouth has been listed by The Sunday Times as one of the UK's fastest-growing firms in 2022 and recognized by Fast50 as the fastest-growing company in its industry. In this episode, Logan shares why he left the world of finance to start his own recruitment company, his experience acquiring Pure Partners, and partnering with private equity to continue his ambitious growth plans. Enjoy the episode!

This week, Paul is excited to announce the acquisition of his first business. A fantastic company in the home improvement sector, in the UK.  During the episode, Paul discusses why he decided to look into the home improvement sector and why he is excited about this particular company. Paul also recaps his search journey and the challenges he encountered along the way. Enjoy!  

This week, we speak with Sarah Gardner, Founder and Managing Director of Allegro Tax - a specialist tax advisory firm. In this Episode, Sarah begins by discussing the advantages and disadvantages of buying a target company through an SPV as opposed to doing so personally, how to benefit from entrepreneurs' relief, the tax efficient options available for incentivising employees, tactics for minimizing capital gains tax when acquiring a business and much more. Enjoy the episode!

This week, we speak with Mark Flood, co-founder and director of Renatus Capital Partners, a private equity firm based in Ireland that makes investments in Irish and UK companies with enterprise values of €5 million and above. In this episode, Mark shares his journey leading up to the launch of Renatus, the ins and outs of raising a fund, what they look for in their portfolio companies, how they hire and attract the right people, and more about the Irish private equity ecosystem. Enjoy the episode!

This week, we speak with Ross Tomkins, an entrepreneur, investor,  author, and mens health advocate. Ross is also the founder of TDH Capital, an integrated healthcare group with 4 verticals: medical supplies, home care services, healthcare recruitment, and mens hormonal healthcare. In this episode, Ross describes how his acquisition journey began after running his physiotherapy business for many years, how he sourced and structured 7 acquisitions since Covid [and 2 exits], and how he thinks about partnerships and management within his businesses so that he can focus on building the group. We also get into the importance of men's hormonal health, why equity is so much more expensive then debt, and how Ross is helping others on their M&A journey. Enjoy the episode!

This week, we speak with Dan Cremons, a former private equity investor and CEO; and now founder of Accelera Partners and Author of Winning Moves: 105 Proven Ways to Create Value in PE-Backed Companies.  In this episode, Dan discusses how leadership, talent, and capabilities drive performance of PE-backed companies. We discuss how to ensure the right talent is in place for a target acquisition, how to recruit and incentivise high performers, and so much more. Enjoy the episode and be sure to check out Dan's new book!  

This week, we speak with Sara Yates, CFA. Sara is an experienced economist (Ex JPMorgan, Barclays, UBS), property entrepreneur, and ambassador for the Novastone Capital Advisors Entrepreneurship Through Acquisition program.  In this timely episode, Sara shares her thoughts on the current macro environment. We cover inflation, interest rates, supply constraints, and Brexit; and the impact it may have on small businesses and the economy in general. We also discuss the NCA ETA offering and opportunities for prospective searchers. NCA is supporting searchers throughout the globe. Check out their LinkedIn and Website to learn more and apply. Enjoy the episode!  

This week, we speak with Paul Leitao, Founder of Mercurio Capital - a corporate finance company that arranges financing for small and medium-sized businesses. In this episode, Paul discusses the alternatives to cash flow loans for acquisition financing, the best types of physical assets to leverage against [and the worst], the intricacies of leveraging the debtor book, and much more. Enjoy the episode!

This week, we speak with Brad Nathan, President at Lynx Equity -  a private equity firm that specializes in buying companies in stable, “old world” industries. Lynx Equity has built a diversified portfolio of small business with revenue over $600m and EBITDA over £50m across ±53 holdings.  In this episode, Brad explains how he built a portfolio of 53 companies, why he only acquires 100% of any acquisition, how they structure their deals to mitigate risk, and so much more. Enjoy the Episode!

This week, we speak with Jan Simon, a Managing Partner at Vonzeo Capital Partners - a global institutional investor in search funds that invests in 20+ search funds, and 10 follow-on acquisitions, annually. Jan is also the academic director of the international search fund center at IESE Business School, as well as a lecturer at Berkeley-Haas. Previously, he spent over a decade working for Goldman Sachs, Merrill Lynch, and Salomon Brothers.  In this episode, Jan discusses how he got into the search fund space, where he sees compelling opportunities, how to manage owner transitions, and much more.  Also, don't forget to check out his book  Search Funds & Entrepreneurial Acquisitions: The Roadmap for Buying a Business and Leading it to the Next Level

This week, we speak with James Kaberry, Founder and Chairman of SME Capital, a bespoke SME lender; and Chairman and Co- CEO of Titan Wealth Holdings. James is an entrepreneurs’ entrepreneur. After executing a successful buy and build with Pantheon Financial in the early 2000’s, James exited just before the financial crisis. James then happened to buy it back a couple years later, but after struggling to find suitable lending options, James decided to set up SME Capital. We get into the challenges in setting up an alternative lender, the various characteristics that make SME Capital such a compelling option for acquisition entrepreneurs, and how to best prepare yourself before applying for funding. We also discuss James’ latest buy and build, Titan Wealth Holdings, where they are building an integrated solution for investment managers, and have already acquired over £7Bn in AUM. Enjoy the episode!

This week, we speak with Gerald Ratner, former Chairman and CEO of Ratners Jewellers. In this episode, we discuss Gerald's journey from starting in the family business as a high school dropout to eventually taking over the business and turning it into the world's largest jewellery retailer. At its peak, Ratners owned 6 household brands and had over 2000 stores across the UK and US. His story is an impressive example of how growth via acquisition can accelerate any business. Gerald also explains how a few jokes ultimately led to the downfall of the company, and him being ousted as CEO. The 7 years that followed were difficult for Gerald, but he discusses how his road-bike kept him sane and ultimately allowed him to bounce back and rise again. Enjoy the episode!

This week, we speak with Robert Felters, a partner of Wolfgang Capital, a private investment business investing in UK SMEs. In this episode, Robert discusses the challenges he faced when he first decided to acquire SMEs, his experience buying and running multiple businesses, how to source and structure deals, and the inventive way they incentivise employees by allowing them to share in profits. 

This week, we speak with Taliesen Hollywood, Director at Hahnbeck, an M&A sell-side consultancy that focuses on eCommerce businesses. In this episode, Taliesen shares his insights on the eCommerce M&A space and the rise of FBA aggregators, what makes a good eCommerce acquisition target, and what you can do to position your business for a successful acquisition. Enjoy!  

This week, we speak with Doug Lawson, CEO & Co-Founder of Mark to Market, one of the UK’s most comprehensive and easily searchable database of private market intelligence. In this episode, Doug shares why he decided to launch Mark to Market, the insightful data that his team is able to aggregate, predict and present about private companies, and the fantastic options available to acquisition entrepreneurs.  Click the link below to signup or book a free demo https://marktomarket.io/buyandbuild/  

This week, we speak with Trish Higgins, who, along with her husband and brother-in-law, left Wall Street and set up Chenmark Capital in Portland, Maine. Chenmark is focused on the acquisition and long-term ownership of small businesses. In this excellent episode, Trish explains how 3 Wall St. professionals found their way into SMB acquisitions, their current platform companies and portfolio construction, how they utilise free cash flow to fund future acquisitions, and their approach to developing in-house talent to run their portfolio companies. Enjoy!

This week Paul addresses some of the common concerns and questions he gets about searching to acquire a small business. Acquisition entrepreneurship is expanding beyond the typical MBA ecosystem but many of the new listeners are not sure where to begin. Hopefully this will help. Be sure to join our mailing list to receive all the resources referenced in this episode. Enjoy! https://buyandbuild.co/ 

This week, we speak with Neil Johnson, Founder and CEO of Duke Royalty, a "royalty investment company" that provides a unique financing solution to companies without raising equity or taking on traditional debt. In this episode, Neil dives deep into the mechanics of royalty financing for business acquisitions,  how it compares to equity and debt financing, and the typical deals that they look to partner on. Enjoy the Episode!

This week, we speak with Andrew Lynch, Finance Director at EMT Healthcare, a third-generation family-owned business. In this episode, we discuss what it takes to build a robust finance function for your SME, common cash flow problems and how to identify them early, and Andrew's new company offering strategic finance support for SMEs. Enjoy the Episode!

This week, we speak with Sebastien Perroud, Chairman and Group CEO of the IAR group, an international automation and robotics group that was set up to acquire three separate entities in the USA, Portugal, and Switzerland. In this episode, Sebastien shares his acquisition journey, how he discovered NCA- a Swiss ETA incubator, and how he executed 3 simultaneous deals across 3 countries after searching for only 7 months. Enjoy the Episode!

This week, we speak with Rob Goddard, a former sell-side broker turned business buyer in the UK. Rob also helps fellow business owners achieve an attractive exit through private client mentoring. In this episode, Rob shares his insights and secrets of the UK brokerage landscape, how he was able to sell businesses at a significant premium, and his future acquisition goals. Enjoy the episode!

This week, we speak with Cedric Sigoire, the owner of DEMAN Translations group, a full-service translation agency specialising in B2B translations. Cedric acquired DEMAN in 2015 and has since continued to add on acquisitions, as he builds his translation empire.  In this episode, we discuss why Cedric decided to pursue acquisition entrepreneurship, what makes the B2B translation industry so compelling, and how he sources and structures his acquisitions. Enjoy the discussion!

This week we speak with Ibrahim Abdel Rahim, Managing Partner of Moonbase Capital. Moonbase Capital invest in SMEs by backing ambitious Search Fund entrepreneurs. Ibrahim has grown up around SMEs, joining his father’s business at a young age. He then completed an MBA at INSEAD before joining McKinsey. Ibrahim then re-joined the family business, growing it 10x and partnering with Doehler Group to create the industry leader in tech-based fruit juice concentrates. This is an amazing conversation chronicling Ibrahim's journey. Enjoy!

This week we speak with Phil Fraser, founder of WhichBingo - UK's largest online Bingo directory. From his kitchen table, Phil grew WhichBingo for 18 years, before selling it in 2018. Phil now advises other companies and founders through The Business Sounding Board. In this episode, we discuss Phil's Business journey- including the risks involved launching a gambling related online business in the early 2000’s, how he built his team in the early days, and his advice for bootstrapping growth. We later discuss the benefit Phil brings to other founders as a mentor and adviser. Enjoy!

This week we speak with Ayo Disu and Kunle Campbell of Octillion Capital Partners (OCP). OCP is an eCommerce acquisition company that acquires, operates, and builds culture-defining, socially conscious consumer brands. In this episode we discuss the OCP investment strategy, the unique ways that OCP sources deals, financing options available for eCommerce acquisitions, and the goals for OCP going forward. Enjoy!

This week Paul dives deep into the UK small-business M&A ecosystem. The goal of the episode is to give searchers a resource to help them make smart decisions early-on, helping to optimise their business buying journey. Paul walks through valuation multiples, deal sourcing techniques, thoughts on buy-side advisors, and how to raise debt for your acquisition. If there is anything you wish to dive deeper into, please reach out. Enjoy the episodes!

This week we speak with Kison Patel, founder and CEO of M&A Science. Kison has spent ±20 years advising, executing, and optimising M&A transactions. In this episode, we run through the deal lifecycle and discuss best practices and common mistakes. Kison puts out a ton of valuable info around M&A and you can check it out here Follow buy and build here  

This week we speak with Dhaval Shah, the proud owner of two UK logistics companies that he acquired within the last year. Dhaval continues to focus on acquiring companies in the logistics sector, from technology, warehousing, distribution to road haulage companies. In this episode we dive into the logistics sector, we talk about why Dhaval decided to pursue the acquisition path, and how Dhaval has sourced and structured his 2 deals. Enjoy the discussion!

This week we speak with Claire Chandler, founder of TalentBoost, a company focused on helping acquisition entrepreneurs validate and integrate the employees of potential acquisition targets. We all know that small businesses are reliant on their people yet we tend to focus on the financial and legal details of any transaction. Hopefully this episode will help bring another perspective to the business buying process. Enjoy! 

This week we speak with Sam Turner, founder of Advantos HVAC Group. Sam is an experienced corporate executive who has recently closed his first acquisition and aims to build a group of HVAC companies. In this episode we discuss Sam's acquisition strategy for the group, the creative ways he sourced outside investors and advisors, and his first few weeks post-close. Enjoy!

This week we speak with Carl Lundberg, partner at Gerald Edelman, a top 50 accounting firm with an affinity for assisting entrepreneurial SMEs. Carl's specialism is corporate finance, in particular transaction services including financial due diligence (FDD) and valuations. In this episode we cover the various levels of FDD from light-touch to full blown quality of earnings, valuation, and transaction advisory services. Enjoy!

This week we speak with Dr Gautum Basu, co-founder of True North Search, an ETA accelerator. Gautam has +30 years experience executing M&A transactions and implementing operational improvements for PE portfolio companies, Fortune 500 firms, and SMEs. Gautum has also acquired, and is currently running, a business himself. In this episode, we discuss how True North partners with searchers and Gautum's experience acquiring and running his own business. 

This week we speak with Koji Bratcher, a valuation and financial advisory expert. Koji has provided financial modelling and analytics services to hundreds of businesses, ranging from private, early-stage companies to publicly-traded Fortune 500 companies. In this episode we discuss some of the basic concepts that drive valuation, such as: how to understand industry average multiples, why EBITDA is used as a proxy for cash flow, and how to think about working capital. We hope you enjoy this episode as much as we did!

In this week's episode we discuss updates on Paul and David's search journey. You will hear more about why David decided to leave his job and search full time and we also go through some of the deals we are looking at, proposed deal structures, and opportunities in the pipeline. We hope you enjoy!

This week we speak with Daniel Gilbert, founder and CEO of Brainlabs. Daniel started Brainlabs in his parents attic back in 2012 with a mission of making marketing more scientific. Since then, Brianlabs has grown to 400+ staff across 8 cities around the globe, won numerous awards, and is growing faster then ever with the support of private equity. In this episode we discuss the importance of culture, the benefits of PE backed funding, and Daniels future goals. Enjoy!

After starting as an apprentice in the fire and security industry, Callum went on to launch his own security company. During the episode, we discuss the opportunities and challenges of being a young operator in the industry, the lack of quality talent given no clear path to recruit and train young talent, and other sector nuances that makes this a popular playground for acquisition roll ups. Enjoy!

This week we have on Alex Glasner. Alex recently acquired a company in the training sector after searching for just 10 months. In this excellent episode, Alex discusses some of his strategies for searching effectively, building relationships with investors, why he targeted companies in the training sector, and why this particular acquisition is so exciting. Enjoy Join the Buy and Build community

Philip Jepson has completed 2 acquisitions in the last 12 months as part of his plan to build a group of quality engineering companies. In the episode we discuss Phil's passion for UK industry, how he sources and structures deals, and his plans for the group going forward. Join the Buy and Build community to stay up to date with the latest resources and insights.

This week we speak with Peter Lidgitt. Peter has completed an impressive 20 acquisitions since the first lockdown, all while abroad in France. Peter is no stranger to acquiring companies out of administration and he uses his central back office staff to integrate new acquisitions quickly and leverages the cash flow of other companies within the group to support new acquisitions. But not all acquisitions go smoothly... enjoy the episode!

This week we speak with Rob LeBlanc of Ambit Partners. This excellent conversation covers the characteristics of "maverick" searchers pioneering new markets, the investment thesis of Ambit's first fund, and what investors can expect from this very attractive, uncorrelated asset class.  Ambit Partners recently announced the $16m initial close of their inaugural fund, targeting $36m, and are are looking to back ±60 search funds over the next couple of years.

This week we have on Steve Ressler. Steve is a serial entrepreneur and PE SaaS executive in GovTech space with multiple exits to private equity firms including Vista Private Equity & strategic acquirers such as Motorola Solutions. Steve has also backed 30+ acquisition entrepreneurs around the globe. Steve is always happy to speak with searchers and share his insights, this conversation is a perfect example. Enjoy Join the Buy and Build community for a weekly newsletter on all the resources we find helpful! Sign up for Steve's monthly musings at bit.ly/etamusings

This week we have on John Andrews, an experienced solicitor and partner at JMW Solicitors who specialize in business sales and acquisitions. In the episode we discuss John’s proactive, problem solving approach to legal DD, as well as common red flags and risk mitigants that come up in small business acquisitions. If you would like to connect with John, you can reach out to him on LinkedIn. Join the Buy and Build community to get helpful resources and updates. Follow us on LinkedIn

This week we have on Charlie Sharman from Cantifix. Charlie and his brother started Cantifix over 30 years ago after they had some success installing kitchens for friends. Cantifix is now one of the most successful architectural glass companies in the UK having worked on some of the most iconic residential and commercial properties throughout the UK. Check out their work here Follow Buy and Build here

This week we have on Neil Dalyrmple, founder of Merlin Scott Associates (MSA). MSA specialises in producing Industry Analysis Reports covering 1000+ different sectors of UK industry, without replying on SIC codes. If you are looking to acquire within a specific sector or would like to compare yourself to competitors within your sector, these reports and the recently launched USP tool may be an option.

This week we speak with Joe Steigman. Joe spent 6 years in the US Army working in various senior logistics roles before pursuing his MBA. It was here he learnt about Search Funds. Joe recounts the challenges he faced raising a search fund in the US and why he decided to end his fundraise early. Joe's leadership skills are evident in his ability to make the tough choices quickly. This allowed him to launch his logistics company not long after, which has become a quick success.   Join the Buy and Build community

This week we speak with Sean Brophy, UK country manager at Caple. Caple, are lenders focused on SMEs and have recently begun offering a term loan option for management buy-ins. Sean goes into the details on what they look for in both the buyer and the company; and how they overlay qualitative judgement alongside the more quantitative metrics. Join the Buy and Build community

Today we speak with Ahmed Raafat of Giza Capital Partners, the first search fund raised in Egypt. Ahmed first heard about search funds while completing his MBA at Cambridge.  We discuss his experience launching a bio-fuel company 2 weeks before graduating as an engineer and growing it to over $2m in revenue. We also dive into the complexities of raising capital in a new and emerging market like Egypt as well as the types of companies he is looking to acquire.

In this week's episode we speak to Daniel Beaumont. Daniel has gone from consulting, to running his family's textile business, eventually exiting the business, and is now building a portfolio of companies via acquisition. We go into the details of why he transitioned from the corporate world in London to taking over the family business. Lastly, we discuss his acquisition approach now, the key ways he has found success in sourcing and structuring deals, and his advice on managing people and hiring.

For the first episode of the Buy and Build podcast, Paul and David give a quick introduction of themselves, their reason for starting the podcast and what to expect in future episodes! You can expect to learn exactly what Entrepreneurship Through Acquisition (ETA) is and why they decided to pivot from banking and the VC-backed start-up world to acquire and operate a small business of their own.  Join the community at Buy and Build