83 - Why Chenmark Bought a Boat Tour Business
Chenmark is a name many of you will know. The three founders of the Maine-based holdco quit Wall Street in 2015 to go out and buy small businesses to hold and operate forever. Today's guest, Trish Higgins, is one of those founders. Trish and her two partners are often on panels and podcasts, including Acquiring Minds episode 55, doing more high-level talks about holdcos, small business acquisition, search. But I had Trish on today just for story time. I wanted to hear about a particular acquisition, that of Cap'n Fish's Cruises, a boat tour business in Maine. Even for Chenmark, whose founding principle was to take the road less traveled, this seemed like such a funky, unlikely and, frankly, unappealing business. I wanted to understand what Trish saw that I didn't. Well, she delivered. You're going to learn a lot about what to look for in these businesses. And by the way, we do actually get into some high-level stuff about Chenmark overall. I couldn't resist. So the actual story part of the interview doesn't start until around minute 20. Please enjoy this awesome conversation with Trish Higgins, co-founder of Chenmark.