Five Acquisitions & 2 Exits - Acquiring and Growing Companies in Australia with Pete Seligman

In this video, Pete Seligman walks us through all five of his acquisitions, major focus on the first one, that he's been a part of and the two exits. Pete is an experienced entrepreneur and investor who has been involved in a number of different industries over the years. In this video, he provides some great insights into the world of acquisitions – what to look for, what to avoid, and how to make sure you get the most value out of the deal.

Look for the "sailing" sports - business analogy

SHOW NOTES:

00:00 Intro to Pete in Australia!

00:56 Call to Adventure - What was missing in his life

03:57 Why some humans need to be responsible for Inputs RESULTS

05:54 Buying a business in Australia (vs the USA)

07:15 acquisition Criteria - Why Direct Invoicing was important

10:29 First Acquisition Cap Stack

11:49 Did seller/owner stay on?

13:21 How did you find the business and was it a "good" business

18:38 Why you need to "work-in" the business - to start

19:25 Bringing a Sledgehammer to the valuation and offer

23:11 His style of offers - margin of safety & single digit offer

26:05 Buy and Hold - no target exit date

27:10 Paying salaries - what happens when cash flow from acquisition is not enough

27:50 big skeletons in the closet came after acquisition

29:48 When he first felt the "What he was meant to do" Dopamine rush

33:18 His inspiration - mentors

34:44 Growing the first acquisition & buying more

36:00 When business owners hit a glass ceiling

37:50 Ocean racing vs sailing around the harbor

39:11 Courting the 2nd acquisition seller

39:48 Making an offer to seller they could not refuse - call options

43:50 Buying the same type of business but in unrelated industries just 2X in 5 years

47:13 Scaling, software vs service - why you need domain expertise

49:13 More acquisitions - parking meters & selling to a PE firm

50:58 Attracting investors to co-invest buying bigger companies

52:23 Buying a Travel Business - why you need to "stick to your knitting"

54:37 Making himself redundant & Becoming a Search Fund Investor/Coach

1:00:33 Getting in touch with Pete on LinkedIn

RESOURCES & COURSES & LINKS:

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DealFlowSystem: https://dealflowsystem.net/