Buying for $600k, Selling for $35m

He was kind of managing all those contracts and he had been, you know, that's his, his. I was really more on the delivery of, of analytics solutions, you know, an excellent consultant back consulting background. His name's Adam. Adam Roy. And Adam and I, you know, were the leaders of this new business and we sort of used the coo CEO, what I was.

And we, we just realized, hey, we're, we're not going to, we're either going to have to buy this business ourselves or we're going to have to walk away and start something new because there's just not enough here. There's no, there's no money here for us to be Able to do what we need to do.

It was, it was kept separate. It was a separate entity, so was not part of Accenture at all. They, they bought the, I'd say 80% of the business as an asset sale.

Actually the way it was structured was an asset sale Accenture about the assets. We kept the original entity, which now only had a few, you know, a few, a few people and a few contracts underneath it.

A few people, a few contracts, money losing. But whoever might have been the one to control the decision to reinvest in the business was saying no, no reinvestment in that business.

You know, Accenture's interest was, was in, that was in them focusing on the, the owners of the previous business focusing on the, on the Accenture business they just bought. They would really prefer that they divested it, which is, which is what ended up happening. You know, they divested to us.

But that was kind of, that was, you know, part of this kind of pushing them in that direction.

Great. Okay, so how did you guys, when you decided that it, that you could be the ones to own this business and that that would be how to give it new life and you know, realize your own entrepreneurial aspirations, how did you approach it?

Well, we were lucky enough to have kind of a few, a few helpful advisors that we had kind of, you know, hadn't been involved with us during this time to help us kind of build this bit, build the business up. One was a micro for MicroStrategy guy named Sid Banerjee. Sid. Sid was great and very helpful during this time frame.

But then it ended up leaving as an advisor and focusing on his own entrepreneurial journey. And then we had another gentleman, Den De Young, who was a very experienced CEO in an area well known name who was kind of, you know, with us, helping us and advising us. And then, and then just after we transacted the business dent, he stuck with us as an advisor for probably eight years or so.

But, but it was really all of us kind of putting our heads together and figuring out what a, what a deal can look like. What's a business worth that's losing money. Right. We're to, to valuing things based on, you know, an EBITDA multiple.