Acquiring MindsJanuary 18, 2024

4 Acquisitions In, Holdco Builder's Goal is £150m

with Sam Turner · Advantos

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LenderHawk analysis. Not affiliated with or endorsed by Acquiring Minds.

The Deal

Business

Advantos

Industry

mechanical & electrical (M&E) businesses

Revenue at Purchase

$22.5M

Deal Source

other

Financing Structure

Rolled Equity

Seller Note

Investor Equity

Strategic Rationale

Building an HVAC/M&E holding company to leverage management expertise.

Post-Acquisition Performance

One business struggling with inflation; others expected to add £7M+ revenue.

Key Takeaways

1Diversification across sub-sectors within a single industry mitigates risk when one business faces market headwinds; multiple independent operating companies provide resilience that an integrated operation would not
2Be highly intentional about management retention and succession; founder-owners must be genuinely aligned with your strategic vision around technology adoption and modernization, not merely willing to stay on
3First acquisition must be lower-risk and predictable to enable future growth and diversification; a highly risky first deal can eliminate you from the game entirely if it fails
4Delayed gratification and a long time horizon (10+ years) are essential; rapid financial returns are unlikely, and maintaining belief through inevitable short-term setbacks separates succeeders from those who quit
5Build resilience through routines, exercise, and gratitude; the psychological pressure of ownership is fundamentally different from corporate stress and requires deliberate mental tools to navigate fetal position moments

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The Deal

Business

Advantos

Industry

mechanical & electrical (M&E) businesses

Revenue at Purchase

$22.5M

Deal Source

other

Financing Structure

Rolled Equity

Seller Note

Investor Equity

Strategic Rationale

Building an HVAC/M&E holding company to leverage management expertise.

Post-Acquisition Performance

One business struggling with inflation; others expected to add £7M+ revenue.

Key Takeaways

1Diversification across sub-sectors within a single industry mitigates risk when one business faces market headwinds; multiple independent operating companies provide resilience that an integrated operation would not

2Be highly intentional about management retention and succession; founder-owners must be genuinely aligned with your strategic vision around technology adoption and modernization, not merely willing to stay on

3First acquisition must be lower-risk and predictable to enable future growth and diversification; a highly risky first deal can eliminate you from the game entirely if it fails

4Delayed gratification and a long time horizon (10+ years) are essential; rapid financial returns are unlikely, and maintaining belief through inevitable short-term setbacks separates succeeders from those who quit

5Build resilience through routines, exercise, and gratitude; the psychological pressure of ownership is fundamentally different from corporate stress and requires deliberate mental tools to navigate fetal position moments