Started as SBA Searcher, Built to a PE Fund

I think we had like 24 companies that we said let's go try to talk to them. We sent out 24 letters. I think four or five of them got returned to sender.

But I had six phone calls, two offers and one closing out of just that one letter, which was pretty crazy. So yeah, we did that. We did that acquisition.

Probably smaller than we wanted to do and certainly smaller than that first one we were looking at. The seller was pretty clear that he wanted out. He had bought it about five years earlier from the founder.

Founder was still involved as a nurse. And he, he did it just as like a little investment. He was engaged early, went back to his regular job and, and when he got our letter said yeah, maybe it's time.

I'm not really doing this anymore. So it was a timing situation that worked out for us.

And, and why did you like it, Joe? I mean it's. That's very small for a guy, for a lone entrepreneur, let alone two of you. Now obviously you're going to say, well it was one of.

It was going to be one of my portfolio. So, so this one didn't need to. To be. It wasn't going to be my sole source of revenue.

But still, especially if, if you're. If your goal here was to work intensely in the business for a while and Then step out and have it kind. You'd want that to be self growing from a larger foundation, would you not?

Yes, no doubt. And in hindsight, having a little bit more cushion might have been good. So. No, what we liked about it is we liked the founder who was still involved. Like I said, she was a nurse.

She was super passionate about it. They had a great reputation. Some of the things to make it more of a professional business that, that that nurse founder didn't necessarily have the acumen for that subsequent buyer put into place.

So there were some systems, there was some good marketing things. So there were elements of that part of it that we liked and I think we were excited to have something, to be honest, that that looked like would be more upside than downside, even though it was small. So my, the partner on that, he didn't plan on quitting his job, so he wasn't necessarily needing to replace an income.