So three searchers slash sponsors who have bought these types of businesses. But Adam Rao on the Acquiring Minds interview from just a few months ago, same thing. Their, their business just revenue fell to absolute zero.
Acquiring Minds
From €4 Million, to Zero, to €12 Million
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But they, I don't recall the details, but I think it was, they were, they held on and they just positioned themselves well to when things started coming back. Whereas, I mean the competition, the playing field has been cleared, weaker players have gone out of business or have decided to just shut down. You know, employees have gone on to other, other businesses, other, other jobs, taken other…
So it does have this culling effect. And if you can, if you can remain, if you can survive in the, in the industry, the competition is a lot thinner on the other side, so something too much.
And also even the companies that did survive Covid, some of them, especially in Western Europe, they survived because very early on they received a lot of state subsidies.
Yeah.
So yeah, they were fine, but they lost the, like the, the hustle mentality or they, they, they got a little bit lazy.
Yeah, you guys were putting up pergolas to stay alive.
Exactly.
Great. Well, Ivona, we're wrapping up. Why don't we hear what has happened since. I know that it's been now three year worth, you know, three more years since COVID I guess really sort of came to an end in your industry.
Although maybe not maybe it's still. There's still a tale of COVID effects. But tell us what has happened since.
So after Covid, we started growing, we returned to the growth and right now we are at. We almost tripled revenues and we doubled EBITDA.
From when you bought it? From pre Covid.
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