From Software to Concrete Cutting (and $1.4m of SDE)

When the owner refused a seller note in the $6m transaction to sell his business, Tom McCormick had to get creative.

Register for the webinar: 

• Understanding a Quality of Earnings Analysis: What's Included and Why - TODAY!! - https://bit.ly/43sZcKn

Topics in Tom’s interview:

• From IBM executive to acquisition entrepreneur
• Building banker relationships to source better deals
• Closing on his first LOI
• Consulting agreement replaced traditional seller note
•  “I wish I would've started this path 15 years ago.”
• Winning seller’s trust through shared values
• Using ROBS to buy a larger company
• A costly lesson about accounts receivable valuation
• Prioritizing keeping the blue collar workforce happy
• “I am so much happier now.”

References and how to contact Tom:

• LinkedIn
• Quality Cutting & Coring

The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

• The Acquisition Lab

Get a complimentary IT audit for acquisition diligence or post-close transition.

• Visit inzotechnologies.com/eta.

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact [email protected]

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov and produced by Pam Cameron