The Opportunity in Carve-Outs (and Uncle Sam)

April 27, 2023
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aroline Chapdelaine bought a defense contracting business in October of last year.

This is a business that manufactures a piece of technology designed by a team of scientists.

Caroline, very sharp but not a scientist, is now the CEO and operator of this science-heavy, technical manufacturing business.

That’s her below, second from left, with the Northstar Photonics team.

Northstar Photonics Team

It's a really interesting story and includes themes that Acquiring Minds hasn't touched on in other interviews:

  • Defense contracting, an enormous industry but one you don't hear much about in our world of buying businesses
  • Buying a carve-out, that is, a larger business selling off one of its business units
  • The benefits of buying an asset-heavy business (searchers typically prefer asset light)

These first 6 months of ownership have not been easy, much of that attributable to the fact that this was a carve-out.

There was a scary cash crunch and consequently some dark moments, moments that Caroline, a veteran, says were more stressful even than combat.

As of now, things are looking much better, and I hope you'll listen closely to how Caroline navigated those dark moments, both practically and emotionally.

Here she is, Caroline Chapdelaine, owner of Northstar Photonics.

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Key Takeaways

Introduction

Listen to the introduction from the host

aroline Chapdelaine bought a defense contracting business in October of last year.

This is a business that manufactures a piece of technology designed by a team of scientists.

Caroline, very sharp but not a scientist, is now the CEO and operator of this science-heavy, technical manufacturing business.

That’s her below, second from left, with the Northstar Photonics team.

Northstar Photonics Team

It's a really interesting story and includes themes that Acquiring Minds hasn't touched on in other interviews:

  • Defense contracting, an enormous industry but one you don't hear much about in our world of buying businesses
  • Buying a carve-out, that is, a larger business selling off one of its business units
  • The benefits of buying an asset-heavy business (searchers typically prefer asset light)

These first 6 months of ownership have not been easy, much of that attributable to the fact that this was a carve-out.

There was a scary cash crunch and consequently some dark moments, moments that Caroline, a veteran, says were more stressful even than combat.

As of now, things are looking much better, and I hope you'll listen closely to how Caroline navigated those dark moments, both practically and emotionally.

Here she is, Caroline Chapdelaine, owner of Northstar Photonics.

About

Caroline Chapdelaine

Caroline Chapdelaine
Olivia Rhye
Product Designer

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