Jon talks to Reg Zeller about his 7 Foundry (Andrew Carnegie) & Machinery Acquisitions

Show Notes:

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