Acquiring Minds

From Tech Sales To Forklift Repair

with Sean Lindley · R&R Lift

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

The Deal

Business

R&R Lift

Industry

Forklift repair and maintenance services

State

Purchase Price

$1.5M

Multiple (SDE)

2.7x

Year

2024

Financing

SBA 7a

Revenue at Purchase

$1.2M

SDE at Purchase

$550K

LTV at Close

90%

Deal Source

bizbuysell

Financing Structure

$1.2M

SBA 7(a)

$1.2M (80%)

Seller Note

$149K (10%)

Buyer Equity

$149K (10%)

Strategic Rationale

Buyer sought to leverage his enterprise sales and leadership background to modernize an established, high-margin forklift repair business through digital marketing, systems implementation, and operational improvements while building a long-term family business in a niche B2B essential service sector.

Post-Acquisition Performance

Within 100 days of ownership, business achieved Google visibility with nine five-star reviews and received customer referrals from Google search; focused on hiring challenges as the primary constraint to growth rather than demand challenges; margins declined slightly as expected due to growth investments and increased technician compensation.

Key Takeaways

1Act with urgency when you find a deal you want; delays in submitting an LOI can cost you the opportunity.
2Hang around the hoop by following up with brokers and sellers after initial rejection, as deals frequently fall through and create second chances.
3Engage a paid mentor or coach from the industry to provide accountability, strategic guidance, and help avoid costly mistakes in deal evaluation and operations.
4Develop relationships with multiple lenders and negotiate aggressively on working capital and lines of credit to support growth initiatives like equipment purchases.
5Identify businesses succeeding despite minimal marketing efforts, as there is significant upside potential through modernization and systematic sales and marketing implementation.

The Deal

Business

R&R Lift

Industry

Forklift repair and maintenance services

State

Purchase Price

$1.5M

Multiple (SDE)

2.7x

Year

2024

Financing

SBA 7a

Revenue at Purchase

$1.2M

SDE at Purchase

$550K

LTV at Close

90%

Deal Source

bizbuysell

Financing Structure

$1.2M

SBA 7(a)

$1.2M (80%)

Seller Note

$149K (10%)

Buyer Equity

$149K (10%)

Strategic Rationale

Post-Acquisition Performance

Key Takeaways

1Act with urgency when you find a deal you want; delays in submitting an LOI can cost you the opportunity.

2Hang around the hoop by following up with brokers and sellers after initial rejection, as deals frequently fall through and create second chances.

3Engage a paid mentor or coach from the industry to provide accountability, strategic guidance, and help avoid costly mistakes in deal evaluation and operations.

4Develop relationships with multiple lenders and negotiate aggressively on working capital and lines of credit to support growth initiatives like equipment purchases.

5Identify businesses succeeding despite minimal marketing efforts, as there is significant upside potential through modernization and systematic sales and marketing implementation.