Kari Lukovics, Axial | May 17, 2017
Jacques Gliksberg, a former banker and Northwestern MBA, executed a roll-up of laundry businesses in the State of Florida including Crown Linen.
Jacques subscribes to Axial, came across the teaser for Laundry Plus, decided to pursue it, and had an executed NDA in 10 days (Note: Edison Avenue posts $500K+ EBITDA and select niche businesses on Axial that may be add-on acquisitions for larger buyers like Jacques).
Jacques' secret to moving quickly on deals is to only inquire on those they are truly interested in. They don't have the staff to comb through deals.
Because of their narrow focus and quick yes/no decisions, brokers, bankers and business owners are far more cooperative.
Add-on acquisitions are much easier than platform acquisitions. You only need to fill a product or geographic niche with an add-on; whereas, a platform acquisition criteria needs to be much more specific.
Jacques advice for sellers is to 1) commit to selling -- no cold feet; 2) be realistic in who the buyers are and what the business is worth -- don't get greedy in the middle of the process.
Jacques greatest source of pride is the fact he bought a company with 20 employees and grew it to 800 employees in 10 years.
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at
Eric@EdisonAvenue.com or 239.738.6227. Also, visit our Edison Avenue website at
www.EdisonAvenue.com.
To search for Florida Businesses for Sale:
CLICK HERE
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