Deciding to Exit After 2 Years of Ownership

You can't just read the headlines. Yeah. That doesn't make them easy. Right. Construction businesses are big and they have big working capital balances and sometimes labor can be tough and you name it.

So that's not easy. It's not. I agree, I agree. And I also kind of back to strategic fence a little bit here too.

So we, we did and still do commercial fencing, a little bit of residential fencing, temporary fencing, which has a rental, you know, stream that's associated with it, and then a couple of these other small, little ancillary things. Right.

And I also remember when I met the seller, one of the sellers for the first time, he's an Australian gentleman, and his comment to me when I asked him kind of why he got into this industry as well, and it was something with, you know, through an Australian accent, of course. Right. But it was like, Jack, I'll tell you, fencing's the second oldest profession in the world. I had to think about like…

But the reality is, and you know, Sam touched on it. Right. Like in good times you want to secure your things because you've perhaps just bought a bunch or you've just built a new home or a new commercial facility. Right. And in bad times you want to secure your things.

Right. So it's, there is some cyclicality with the construction industry. You know, for me, I also was as much betting on the Colorado resort market because that's where the majority of our work is today. So there again, it's not a perfect business by any stretch of the imagination.

I learned that firsthand. We're still learning it. Right. But it was, it ticked a ton of boxes for me.

Would love to hear a little bit more about being in a resort town, I'll just plug a recent episode where a couple of searchers bought in Aspen, which was actually their hometown, but they had left and lived on the coasts and then wanted to get back. And in fact, kind of their whole thesis then surrounded buying businesses in their hometown of Aspen.

But one of the features of Aspen, at least, and probably in many of these towns, is that there's kind of a geographic moat. They bought a.

They bought an auto repair shop, and they're. It wasn't another auto repair shop for 40 minutes up the road in Aspen. And so I wonder, is that.

Is that a kind of a similar dynamic that you saw in Breck in your own business or in other businesses where there's a premium, you can enjoy maybe fatter margins? Because there just aren't. Because it's a. The supply of what you offer is constrained.