Ben Rizzo bought an unprofitable, 4th-generation elevator business then stabilized, doubled, and sold it within 2 years.
Topics in Ben’s interview:
- His wife-funded search in Pittsburgh
- Sourcing deals through lawyers and accountants vs brokers
- Acquiring an elevator repair business in distress
- Quickly making changes after transition
- Pouring his own money into the company to stay operational
- Surviving the challenges of Covid
- Doubling the business and selling to private equity
- Calculating the risk of buying a turnaround
- Buying a healthy business for his next venture
- Competing with private equity for acquisitions
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