Jon talks to Reg Zeller about his 7 Foundry (Andrew Carnegie) & Machinery Acquisitions
00:00 Intro to Reg Zeller
01:16 Found 1st one on BizBuySell
02:00 Andrew Carnegie type business
03:22 What are economics of foundry & multiples
05:35 How he developed relationship with seller & get at $1M under highest bid
08:02 Why seller went with Reg - its not all about the money.
09:43 Did Reg make a "no change to business guarantees" with seller
12:21 The characteristics of motivated customers
13:55 How did his new culture jive with the entrenched culture?
16:23 What is a captive foundry
16:51 How he hired to work above the business
19:00 Why did he buy the 2nd one - was not for cash flow
20:55 The 3rd acquisition
25:17 How he financed the other acquisitions and recap
28:26 Is he buying higher ebidta businesses?
29:50 What he does with tuck-in acquisitions
31:29 Where he found his President/COO
33:04 Parts of the work he hates
35:10 Want a M&A job
35:39 refuse to overpay
39:45 Reg Zeller's rollup strategy recommendations