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Podcasts/Acquiring Minds
Acquiring Minds✓ Verified in SBA records

A Searchers Second Act Building A 25m Holdco

with Eric Calderon · LK Industries

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

The Deal

Business
LK Industries
Industry
Testing, Inspection, Calibration (Oil and Gas / Manufacturing)
State
TX
Multiple (EBITDA)
3.5x
Year
2015
Revenue at Purchase
$6.5M
Deal Source
broker

Financing Structure

Bank Loan
Seller Note

Strategic Rationale

Acquire a manufacturing business in oil and gas sector with long operating history and recurring customer relationships to build equity value through operational improvements.

Post-Acquisition Performance

Business experienced a significant oil and gas downcycle in 2016-2017 requiring staff reductions and working capital optimization; acquired calibration company in 2016 that transformed business model toward higher-margin testing and inspection services; exited in 2018 at double-digit returns.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 2.88%
Top Lenders
PNC Bank, National Association103 deals
Wells Fargo Bank National Association87 deals
JPMorgan Chase Bank, National Association85 deals
BayFirst National Bank28 deals
Zions Bank, A Division of22 deals
See all matching lenders →

Key Takeaways

  • 1Understand the difference between project-based revenue and truly recurring revenue streams by examining multi-year customer contracts carefully.
  • 2Inventory management requires living with the business decisions rather than making theoretical assumptions about optimal levels.
  • 3Working with community banks that have local market knowledge and portfolio understanding provides significant operational flexibility during industry downturns.
  • 4Build credibility with customers in technical industries by leveraging personal engineering background and prior industry experience.

Matched SBA Loan Records

SBA loan filings we matched to this deal

Third Coast Bank95%
$2.2MP + 2.00%FY2022