How a $406M PE Firm Works with Jason Neimark of New Water Capital
Episode description
🚀 Get My Free Book! 📖 How to Buy Your First Million Dollar Business
SHOW NOTES:
00:00 Intro to Jason
01:00 How he started
02:40 Raising $406M Capital to Acquire
05:27 Tell us the story of the Trillium Healthcare acquisition
06:36 Types of companies you acquire and why
08:58 Why did you buy a company where 88% of revenue came from one customer?
12:40 Do you replace management?
15:09 How long do you give yourself to improve measurables?
16:10 what do offers look like - cap stack?
12:58 How fast do you move on acquisitions?
19:16 Are you competing with other buyers?
20:06 How long do you keep the companies in your portfolio?
21:14 Do you employ and investment banker to help you sell the companies?
22:13 How do you choose an investment banker?
24:09 Do you care where/who its sold to?
25:43 What is a ReTrade?
27:56 What is volume of communication you have with Investors?
29:56 Any companies, you try to fix/improve, that did not work out?
32:09 What attracts you to Food companies?
34:39 What life stage was the Food acquisition in?
38:01 What do you do with a product line that is not making money?
38:25 That company that is over 120 years old sounds like buy and hold, how does that fit in a PE?
39:48 Who do you go to for advice, mentorship?
42:08 Skip level interviews - what are they?
43:49 Customer is always right to...take care of your people
44:20 what is some of the best advice you received
45:44 What would you can a "Win"?
47:08 If you find a great operator do you hire him away for other companies?
48:14 What is next for you, working until you are 99 years old?
49:29 How many acquisitions do you have planned for the year?
49:39 What does deal flow look like for you?