Buying a Remote, 20-Year-Old Business with $900k of SDE

May 1, 2025
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pon meeting the seller of Lodging Source, a 20-year-old corporate travel business, today's guest knew he wanted to buy it.

So in addition to the story of how Dan Angel did in fact buy it, we also unpack what he liked so much.

This corporate travel agency has a great model and strong value proposition for its clients.

Not to mention nice margins: it had generated $900k of SDE on $3m in top line revenue the year before Dan bought it.

It also had a fantastic number-two, the VP who'd been there for 15 years.

And a key factor in Dan's success with his acquisition was the buy-in from this key woman, Jayme Moylan.

Jayme's sense of ownership was strong, as was her protectiveness of the team.

Dan Angel & the Lodging Source team out & about
Dan (in back) and the Lodging Source team IRL

And she was blindsided by the news of the sale.

So we're doing something new today: we're hearing not just from our buyer Dan, but from Jayme as well.

We get her first-person account of what it's like on the other side of the stories we tell here on Acquiring Minds. To be the key woman in a small business, and learn it's been sold. To meet and adjust to the new guy from outside the industry.

It's a fascinating listen, and while you'll recognize many of the patterns, I hope you agree that they have particular force coming directly from an affected employee.

I want to thank Dan for his idea to bring Jayme into this process, and of course Jayme for being game.

Here they are: first Dan Angel, owner of Lodging Source, then Jayme Moylan, VP at Lodging Source.

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Buying a Remote, 20-Year-Old Business with $900k of SDE

Dan Angel knew he wanted to buy this B2B travel company with $3m top line. But the sale would shock the key number-two.

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Key Takeaways

Introduction

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U

pon meeting the seller of Lodging Source, a 20-year-old corporate travel business, today's guest knew he wanted to buy it.

So in addition to the story of how Dan Angel did in fact buy it, we also unpack what he liked so much.

This corporate travel agency has a great model and strong value proposition for its clients.

Not to mention nice margins: it had generated $900k of SDE on $3m in top line revenue the year before Dan bought it.

It also had a fantastic number-two, the VP who'd been there for 15 years.

And a key factor in Dan's success with his acquisition was the buy-in from this key woman, Jayme Moylan.

Jayme's sense of ownership was strong, as was her protectiveness of the team.

Dan Angel & the Lodging Source team out & about
Dan (in back) and the Lodging Source team IRL

And she was blindsided by the news of the sale.

So we're doing something new today: we're hearing not just from our buyer Dan, but from Jayme as well.

We get her first-person account of what it's like on the other side of the stories we tell here on Acquiring Minds. To be the key woman in a small business, and learn it's been sold. To meet and adjust to the new guy from outside the industry.

It's a fascinating listen, and while you'll recognize many of the patterns, I hope you agree that they have particular force coming directly from an affected employee.

I want to thank Dan for his idea to bring Jayme into this process, and of course Jayme for being game.

Here they are: first Dan Angel, owner of Lodging Source, then Jayme Moylan, VP at Lodging Source.

About

Dan Angel, Jayme Moylan

Dan Angel, Jayme Moylan

Show Notes

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Dan Angel knew he wanted to buy this B2B travel company with $3m top line. But the sale would shock the key number-two.

Topics in Dan Angel’s interview:

  • Leaving his dream career at a hedge fund
  • Coming in a little too hot as the new owner
  • Adding 3 offshore employees
  • Growth isn’t free
  • Running a fully remote team
  • Trying to change the world by 9:00 am

Topics in Jayme Moylan’s interview:

  • Her 15 years working for Lodging Source
  • Being blindsided by the acquisition
  • Uncertainty over who to answer to while the seller was still there
  • Figuring out how to interact with Dan

References and how to contact Dan and Jayme:

Get a free review of your books & financial ops from System Six (a $500 value):

Learn more about Walker Deibel's done-with-you buy-side advisory:

Get complimentary due diligence on your acquisition's insurance & benefits program:

Connect with Acquiring Minds:

Edited by Anton Rohozov
Produced by Pam Cameron

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