This was not a big deal. You decided to partner with your sister. So the two of you do this together.
Acquiring Minds
The Origins and Future of a 9-Figure SMB Holdco
Excerpts · 452 segments · ~1:49:39 long
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Yeah, we did it together. And we decided before we found this company when we were both in business school that we looked around, I looked around and said, looking at all the best investors out there, most of them have a partner, obviously Warren and Charlie being the two obvious ones.
But you look at others and lots of them have, you know, whether they're running a hedge fund and they have their number two or, you know, in the private equity side, they, they have someone with complementary skill sets to bounce ideas off of, who thinks about the world slightly differently, etc. So we sat there and said, hey, we should go do this. We got the trust built.
We've, we know how to, to fight. We're siblings and we can, we we think we can make this happen. And so we set out and said, okay, want to go do.
And it was, it's our purpose to this day is build great companies together. And it, this was back before we acquired our first company. It was, we set out on this mission to, to build great companies together.
And that meant her and I, it meant with the stakeholders of the companies we buy and with our future partners who at the time we didn't have any or didn't know who they were going to be. But and it's still true to this day is we look at things through the lens of how do we go build great companies.
And a big part of that is with this permanent hold that we have, it is focused on actually building great companies and that that are going to endure for a long time.
Yeah, well, we're going to definitely spend some time on that. And you mentioned future partners. Matt, I know you're getting itchy over there.
Thank you for your patience. We're going to you here in a minute. But Gant let, let so that first acquisition.
So let's, let's hear quickly the story of that. We're not going to spend too much time on it, but tell us how that went, what the business was, how you, how you bought it and then what you did with it.
Yeah, so it, it's about $2.2 million stockpile measurement business. So this business was in the state of Texas and a little bit in the surrounding states and had guys in trucks with lasers on the back. Yeah, kind of sounds like sharks with lasers on their heads.
But lidar scanners and they would go around measuring piles of rock and quarries and doing inventory measurement for those, for those quarries. And so it was, yeah, eight people before drones. And so we went and got in, did that deal, had some bank debt, then some family capital and we said, hey, we think we can go grow this company.
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