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Podcasts/Acquiring Minds
Acquiring Minds

From Small Acquisition To 30m Industry Leader

with Robin Kovitz · Baskets

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

The Deal

Business
Baskets
Industry
Gift basket e-commerce and manufacturing
State
ON
Year
2014
Revenue at Purchase
$30.0M
Deal Source
referral

Financing Structure

Buyer Equity
Seller Note

Strategic Rationale

Sought a scalable, recurring-revenue business with no customer concentration that would allow flexible entrepreneurship while raising a family.

Post-Acquisition Performance

Grew the business from 12 employees and approximately $1-2 million in revenue to over 100 employees and $30 million in reported revenue over 12 years through facility expansion, team building, systems implementation, geographic expansion into US e-commerce, and five strategic acquisitions.

The LenderHawk View

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Key Takeaways

  • 1Define three non-negotiables early in your search to maintain rigor and avoid distraction by every opportunity
  • 2Secure favorable lease terms with renewal options before closing to avoid being forced into expensive facility moves early in ownership
  • 3Overfund the deal with a buffer of at least $250,000 to cover unexpected working capital needs and missed due diligence items
  • 4Acquisitions of smaller competitors can provide valuable knowledge and capabilities beyond customer lists if you preserve their autonomy and learn from what makes them special
  • 5Long-term ownership enables you to invest in systems, team, and infrastructure without the pressure of a fixed exit timeline

Matched SBA Loan Records

SBA loan filings we matched to this deal

Celtic Bank Corporation85%
$100KP + 2.75%FY2014
U.S. Bank, National Association85%
$10KP + 2.24%FY2018
Manufacturers and Traders Trust Company85%
$25KP + 3.00%FY2010