Acquiring Minds

7 Years Later Leaving Wall Street To Buy Small Businesses

with James Higgins · Benjamin Moore Kelowna

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

The Deal

Business

Benjamin Moore Kelowna

Industry

Paint retail

State

Year

2022

Deal Source

proprietary

Strategic Rationale

Acquisition identified through proprietary network development in Okanagan Valley where Chenmark already operates frozen dough manufacturing business and has family connections, representing a natural geographic extension.

Post-Acquisition Performance

Deal closed in early 2022 with Dwayne Lucchetti, a graduate of Chenmark's internal GVP leadership development program, stepping into the CEO role after serving as CFO at Mainly Grass.

Key Takeaways

1Proprietary deal sourcing through building networks in geographies where you already operate yields better deal flow than competing for publicly available brokered deals
2Geographic proximity is relative and can be offset by existing business and familial roots in a region
3New CEO hires into unfamiliar industries require intensive onboarding and learning periods even with strong operational backgrounds

Matched SBA Loan Records

SBA loan filings we matched to this deal

Zions Bank, A Division of85%

$10KP + 5.95%FY2013

First Foundation Bank85%

$556KP + 2.75%FY2014

Quad City Bank and Trust Company85%

$470KP + 2.75%FY2011

Acquiring Minds

7 Years Later Leaving Wall Street To Buy Small Businesses

with James Higgins · Benjamin Moore Kelowna

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

The Deal

Business

Benjamin Moore Kelowna

Industry

Paint retail

State

Year

2022

Deal Source

proprietary

Strategic Rationale

Post-Acquisition Performance

Deal closed in early 2022 with Dwayne Lucchetti, a graduate of Chenmark's internal GVP leadership development program, stepping into the CEO role after serving as CFO at Mainly Grass.

Key Takeaways

1Proprietary deal sourcing through building networks in geographies where you already operate yields better deal flow than competing for publicly available brokered deals
2Geographic proximity is relative and can be offset by existing business and familial roots in a region
3New CEO hires into unfamiliar industries require intensive onboarding and learning periods even with strong operational backgrounds

Matched SBA Loan Records

SBA loan filings we matched to this deal

Zions Bank, A Division of85%

$10KP + 5.95%FY2013

First Foundation Bank85%

$556KP + 2.75%FY2014

Quad City Bank and Trust Company85%

$470KP + 2.75%FY2011