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Podcasts/Acquiring Minds
Acquiring MindsMarch 11, 2024

Unlocking Growth in a Business, Average Age 55

with Steve Reis · Holland Supply Company

Listen to Episode →

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

The Deal

Business
Holland Supply Company
Industry
Natural gas measurement and pressure regulation equipment distribution
Year
2019
Revenue at Purchase
$10.0M
Deal Source
other

Financing Structure

Buyer Equity

Strategic Rationale

Acquisition of a high-quality, high-margin utility distributor with technical barriers.

Post-Acquisition Performance

Expanded team from 9 to 20+; grew revenue 50%; vertically integrated.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 3.80%
Top Lenders
TD Bank, National Association674 deals
The Huntington National Bank551 deals
Wells Fargo Bank National Association468 deals
JPMorgan Chase Bank, National Association421 deals
U.S. Bank, National Association416 deals

Key Takeaways

  • 1Traditional search funds require growth mandate; self-funded searches do not need as much growth to succeed due to leverage
  • 2Successful sourcing requires trying everything—proprietary outreach, brokers, conferences, and cold door-knocking—not relying on a single channel
  • 3Industry experience and technical knowledge were critical to closing financing and earning investor confidence in an unfamiliar sector
  • 4Change management and relationship-building with tenured employees must precede aggressive growth initiatives
  • 5Vertical integration of manufacturing into distribution can reduce lead times and inventory costs while improving cross-functional knowledge

Matched SBA Loan Records

SBA loan filings we matched to this deal

SouthState Bank, National Association85%
$260KP + 2.75%FY2010
Five Star Bank85%
$10KP + 2.00%FY2010
JPMorgan Chase Bank, National Association85%
$340KP + 2.23%FY2013

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