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Podcasts/Acquiring Minds
Acquiring MindsOctober 28, 2021

From Search Misery to Successful CEO

with Steve Divitkos · Microdea

Listen to Episode →

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

The Deal

Business
Microdea
Industry
Software for document management and process automation in transportation and logistics
Year
2014
Deal Source
proprietary

Financing Structure

Investor Equity

Strategic Rationale

Acquiring a 'right/wrong' balance business: stable 25-year history but lacking modern management.

Post-Acquisition Performance

Fired 20% of customer base to focus on trucking vertical; exited in 2020.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 4.50%
Top Lenders
Wells Fargo Bank National Association262 deals
The Huntington National Bank172 deals
JPMorgan Chase Bank, National Association128 deals
TD Bank, National Association120 deals
Manufacturers and Traders Trust Company90 deals

Key Takeaways

  • 1Manage the seller relationship carefully post-acquisition as a fractured relationship can damage the company more than other operational challenges
  • 2Structure shorter employment contracts with sellers (around one year) and prepare for the relationship to fray despite best intentions
  • 3Spend the first two weeks doing one-on-one meetings with all employees to learn about the company, understand employee concerns, and identify quick wins
  • 4Be humble and honest about what you don't know while still projecting confidence in your ability to lead and improve the business
  • 5Act decisively on urgent personnel and operational issues even in your first month despite your limited knowledge, leveraging board advisors for guidance

Want the Full Story?

The full narrative — the personal details, the hard moments, the host conversation — only lives in the original. Go listen.

Listen on Acquiring Minds