So Much Fun: The Buyer of Choice in a Fragmented Industry

Being a strategic buyer with enough time horizon in front of you, it's just got to be the most fun way to spend a career. So said today's guest, Mark Anderegg, who acquired Little Sprouts, a daycare business with 16 locations. Mark then grew the business much more by acquiring additional tiny child care businesses throughout New England, ultimately making it the largest private preschool company…

Six years into his tenure as CEO, Mark had a successful exit beyond programmatic acquisition, Mark and I hit on many more themes in today's conversation, including the temptation to spend too much time with owners who really aren't going to sell the preschool industry itself. Industry selection when buying a business. Child care, after all, is a notoriously difficult industry.

Building a house of brands versus a branded house and holding long term versus Exiting. You're going to enjoy this conversation with Mark and the thoughtfulness he brings to this journey of buying businesses. Here he is.

Marc Anderegg, former CEO of Little Sprouts, adjunct professor at Dartmouth's Tuck Business School and co founder of Newberry Franklin, a business that we at Mines Capital are thrilled to have invested in Investing in search deals is considered very illiquid. Investors don't know when they're going to get their money out of your deal, they just know that it's likely to be years. But search…

This coming Wednesday, Andy Rougeau will present a webinar on how you searcher can provide liquidity to your investors without selling or exiting your business, which is typically considered the only way to get liquidity. Andy will discuss the varied but overlooked options like tender offers, put and call options, or investors selling their stakes to a secondary firm.

The webinar is Liquidity options for search investors and it is this coming Wednesday, September 24th at noon Eastern. Link to register for the webinar is right at the top of this episode's show notes or on the Acquiring Minds homepage acquiringminds co and as you know, when buying a business, so much of your success comes down to the people.

Attorneys Bill Barlow and James David Williams return for an office hours all about the legal questions related to this topic, specifically employee issues and non competes. Bill and James David will cover all the employment, non compete and non solicit issues that commonly come up on deals. That is today, Thursday, September 18th, noon Eastern.

The webinar is employee issues and non competes when buying a business. Link to register for the webinar is right at the top of this episode's show notes or on the Acquiring Minds. Homepage acquiringminds co.

Welcome to Acquiring Minds, a podcast about buying businesses. My name is Will Smith. Acquiring an existing business is an awesome opportunity for many entrepreneurs and on this.

Podcast I talk to the people who do it. What do the following Acquiring Minds guests. All have in common? Doug Johns, Morley Desai, Tim Erickson, Chirag Shah, Shane Ursam.

They all went through the acquisition lap, the accelerator and community for people serious. About buying a business. But they represent just a sliver of.

The Lab success stories. The number of deals across the Lab's cohorts now stands at over 120, with over $300 million in aggregate transaction value. The acquisition Lab was founded by Walker Deibel, author of Buy Then Build, the book that introduced so many of you to the very idea of buying a business.