Nick Haschka left a Silicon Valley career and bought an office plant service in 2017, then acquired 9 more through 2021.
Key points from Nick's story:
- The Wright Gardner was doing $1-2m in annual revenue, with margins in the 20% range.
- Acquired the business in 2017 for ~3x of SDE.
- Used SBA for 65-70% of the purchase price, 15% seller financing, and cash for the rest.
- Four months after acquisition, SBA banker came to them with another indoor plant services business looking to sell. Acquired that business, plus 8 others since then.
- Acquired businesses average a couple hundred thousand dollars in annual revenue, though some as small as $100k. All asset purchases.
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Official episode page & full show notes at AcquiringMinds.co: