Buy Well, Exit Better: A $67m Win in 4 Years

But you'd still think that given the population density and the quantity of businesses there and the, the, the people coming out of finance wanting to buy their own business, you just see a lot more businesses coming, a lot more search stories coming out of the Tri State area. Is that also been your experience, your observation or.

No, you know we, we've, we've seen, we've seen a number. It's certainly, it's really not as many as you would think based on the, the fact pattern that you, you laid out. I can think of a few other search businesses that were Manhattan based in particular or certainly Tri State area based.

It's also you know many search businesses are services businesses, very people intensive and you know the wage requirements and expectations are quite high and there's a general sophistication I think of the, of the business owners and sellers and you know their more inclined on the margin to hire an advisor or you know, push for top dollar.

You know. Enzo Technologies as one of the leading IT managed service providers serving the search community led by Nick Akers, an acquiring minds guest who bought the 35 year old business. The team at Enzo regularly works with searchers and their acquisitions and one feature of acquired businesses that Enzo is seeing over and over is the need to implement cybersecurity promptly during the…

So many acquired small businesses either have glaring vulnerabilities, lack security best practices or both. That step one to de risk the deal you just closed should be addressing these issues. INSO is your full service IT MSP for post close stability.

They assess your target, surface the biggest risks in plain English and give you a day one through 30 plan to cut exposure, prevent downtime and even find cost takeouts like bloated telecom bills. Check out enzotechnologies.com I N Z O or email Nick directly at nickenzotechnologies.com.

Maybe before we hear about this deal, this proposed deal structure, and not only the structure itself, but the kind of interesting psychology of that and what now has led you to kind of how you coach searchers. Tell us the bullet points of the business in question. Smart tours.

So it was not a business, not an industry that we were particularly interested in. Um, it's a, it's a classic sort of old school tour operator. And by that I mean a company that sends travelers from the United States, in their case, to mostly exotic destinations around the world on old fashion group trips.

So if you've ever been in a foreign destination and you've seen, you know, a bunch of people, typically older folks, hop off a bus with a following the lead of a, of a group leader that's got a sign and a, and a flag, you know, that very well could have been a smart tours trip. So in travel and travel is an exciting category, there are many different sort of sexy and interesting travel tech…

Smart tours and the broader tour operator industry certainly is not that. It's a sort of old fashioned, you know, arranging group trips and you know, driving for healthy utilization on those buses. And you know, despite it not being on our radar, it had a lot of really interesting characteristics that got us excited.

It's a, it sits in a large, fragmented and growing industry. The cash flow characteristics are exceptional. You collect money up front from your customers and you pay that out much, much later at or even after the time of departure.