From €4 Million, to Zero, to €12 Million

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Check out enzotechnologies.com I N Z O or email Nick directly at nicknzotechnologies.com. Okay Ivana, how did you find the business that you would go on to buy?

Right.

Always disappointing when I have to say this, but it is true. So we approached, of course we approached all the big accountants and big brokers. But to us the most helpful were the small local brokers.

And I really want to emphasize this because at first we didn't believe that these people were going to be very helpful. They, you know, by business school standards they didn't know much about transactions and finances. So at first we were skeptical.

But then we realized that it wasn't their job to know about the transaction. Their job was to handhold the sellers through the process and they are very good at that. So I really want to emphasize this to all searchers, like don't discount these people that these local brokers that don't seem to have the knowledge that you do because their ability to build relationship with the seller is very,…

So we found this local broker who was, as we found out later, he was very motivated. He was then telling us a story how at the closing dinner he promised to invite everybody but his fee didn't hit yet and he didn't have money to pay.

Wow. This deal was his last dollar here.

Okay, exactly. So young, very motivated guy. He understood what we were looking for and he put us in touch with a couple. It was a Czech and Dutch couple that owned actually two companies but very closely interconnected.

And then the negotiations lasted about half a year. It was a company in a sector that we didn't even know about before. Like if you asked me, you know, few years back, I, I wouldn't know that exhibition services are actually its own business sector.

And you know, there are so many companies involved in providing services for exhibitions and trade fairs. But although this was a very new sector to us, we liked it immediately compared to many other industries we looked at before. To us this was very fast moving life sector where you meet new people.