And, you know, there's a there's a really interesting kind of threshold we're going to cross around that level where we're going to become we're knocking on the door within kind of throwing striking distance of kind of what is middle market in in, you know, in institutional finance land.
Acquiring Minds
(replay)Art of the Roll-Up: 40 Businesses in 4 Years
Excerpts · 345 segments · ~1:23:28 long
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Jeff, the. number that jumps out to be most in your plan there, your pitch is the two years. I mean, that's a lot of acquisition activity to be signing up for. You said, let's get to 40 schools in two years. Is that what you said?
Yeah. I mean, I said two to three years. Maybe I should say three to four instead. But look, from the beginning, I mean, if you look back at our history, we've executed on about an acquisition a month.
Uh, And obviously, there's some acceleration in that period of time. But we've done a deal a month for five years. And that's how we turned a bunch of little small businesses into a decent-sized opportunity was just doing it one at a time, really consistently over a longer period of time.
And compounding has had its effect over that period. Yeah.
And so kudos for having been able to do that. But still, as you bring this pitch to me, your prospective investor, not having done it, I'm going to say that seems like too high a frequency. So I guess one question would be integration.
So to realize frequency at that level, one a month, one every two months, all over the country, the integration needs are pretty low.
They're really templatized, right? So these businesses are highly similar, you know, and so we have the ability to, you know, to do a good job of integrating in a repetitive system, you know, sort of programmatic way. You know, so there's a really...
There's not a lot of... range of starting points in terms of what we see um you know in terms of you know folks that are farther along on the digitization or or sort of uh operational path you know that's only work that we don't have to do when we get in there um so you know you're either starting at the beginning and we run the whole playbook or you've done certain portions of it and you know we…
I mean, I think I had the good fortune of having worked in finance. I had lots of peers that were now 10 years into their journey, had money, knew me, had seen roll-ups work. I got a very friendly reception, which I'm very grateful for.
But they sort of saw the thesis and sort of said, I've seen this work in other spaces. I'm sure you'll figure it out. And I'm going to invest an amount that's not super personally meaningful to me.
Good luck. And let me know how it goes.
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