Second Time's the Charm as Owner of a $4m Business

And was this also a case where you thought you'd be able to lean on your existing Rolodex and turn on new business?

I think that was my thesis in retrospect for both the biohazard company and this one. But it was real for this one because they were already servicing some of the, you know, the contacts that I, that I knew. So also, you know, on the back end, I could call some guys and ask them what they thought of the company and oh, these guys are fantastic.

fantastic. So, yeah. So you. Okay, so you. If you were looking at the full year, previous full year's numbers and or average of the previous three full years, it was a bit of a Rich multiple, but they had this surge in revenue, and if you could sustain that, it was a fan. It was actually a fantastic multiple. And spoiler, you have so far sustained it.

So. So your purchase price is looking better with every month that goes by. Your effective purchase price is looking better with every month that goes by, which is. Which is great. Can you share the. The deal terms, how you put the. How you put it together?

Sure. It's. It's the classic, you know, sole owner leveraged buyout. So I had no outside investors. I did a 90% SBA 7A purchase price.

I was not the highest bidder. So that's another aside. I. I came in at 1.475 million, and the full price offers, there were five other offers at one and a half. So my cash in.

And. And Joe, why do you think you won the deal? Was it this.

This.

The aforementioned chemistry you had with the seller?

100%. That was it. Just.

And it was just. You got. And. And just to dig a little on that chemistry, you guys knew a lot of the same people. You just, you hit it off. Was that. That was a. Essentially. Essentially it.