First Acquisition in March, $200m by Year End

December 9, 2024
Listen in Apple Podcasts appListen in SpotifyListen in Apple Podcasts appListen in SpotifyRSS address of the Acquiring Minds podcast feed
W

hen I first heard the numbers from today's guest, I thought I misunderstood.

$200m in revenue, $30m in EBITDA by the end of the year — and the team just did their first acquisition in March??

Some of my more ambitious guests aim to get to $100m in revenue over 5 or 10 years.

So how could it be possible to get to twice that number in 9 months?

Well in today's interview you will learn.

Jordan Dubin and his two partners are rolling up the garage door repair industry.

And Jordan does a phenomenal job of breaking it down.

We hear:

  • their thesis around the garage door industry
  • their strategy of attack to consolidate the industry
  • what they standardize & centralize in their acquired businesses (and what they leave untouched)
  • the deal structure offered to owners
  • and lots & lots of numbers

Speaking of which, do note this distinction between what Jordan is doing and what the typical Acquiring Minds guest does, which helps answer the question how have they done this?

Most Acquiring Minds guests are looking for a single good business to buy, typically using an SBA loan.

By contrast, Jordan and his partners have a very dialed-in thesis in a category (home services) where they had years of experience as private equity associates, and they went out and raised $35m to pursue this vision.

When you have a war chest of $35m, you can make moves in an industry where not a lot of consolidation is happening.

Jordan Dubin with the Right Way Garage Doors team
Jordan Dubin (far right) with the Right Way team of Vacaville, CA

So what Jordan & team are doing here is more in the vein of traditional private equity.

Still. Many, if not most, of the themes we hit on can be applied to your self-funded search:

How to think about an industry. Where an industry is on its consolidation curve, or if it's even on one. How to relate to owners. How to differentiate yourself as a buyer. How to best position yourself to perhaps one day sell the business you're trying to buy. These should be your considerations in a self-funded search as much as they are Jordan's in a $200m roll-up.

This was an exciting story and a rich education — the best kind of interview. I hope you agree.

Here is Jordan Dubin, co-founder of Guild Garage Group.

Read MoreStories

First Acquisition in March, $200m by Year End

Jordan Dubin and his partners are rolling up a home services industry. They blew by their 5-year goal in the first year.

Jump to:

Disclaimer: We've made every effort at accuracy on this page, but errors sometimes slip through. If you spot one, please let us know, and we'll get it fixed.

Key Takeaways

Introduction

Listen to the introduction from the host
W

hen I first heard the numbers from today's guest, I thought I misunderstood.

$200m in revenue, $30m in EBITDA by the end of the year — and the team just did their first acquisition in March??

Some of my more ambitious guests aim to get to $100m in revenue over 5 or 10 years.

So how could it be possible to get to twice that number in 9 months?

Well in today's interview you will learn.

Jordan Dubin and his two partners are rolling up the garage door repair industry.

And Jordan does a phenomenal job of breaking it down.

We hear:

  • their thesis around the garage door industry
  • their strategy of attack to consolidate the industry
  • what they standardize & centralize in their acquired businesses (and what they leave untouched)
  • the deal structure offered to owners
  • and lots & lots of numbers

Speaking of which, do note this distinction between what Jordan is doing and what the typical Acquiring Minds guest does, which helps answer the question how have they done this?

Most Acquiring Minds guests are looking for a single good business to buy, typically using an SBA loan.

By contrast, Jordan and his partners have a very dialed-in thesis in a category (home services) where they had years of experience as private equity associates, and they went out and raised $35m to pursue this vision.

When you have a war chest of $35m, you can make moves in an industry where not a lot of consolidation is happening.

Jordan Dubin with the Right Way Garage Doors team
Jordan Dubin (far right) with the Right Way team of Vacaville, CA

So what Jordan & team are doing here is more in the vein of traditional private equity.

Still. Many, if not most, of the themes we hit on can be applied to your self-funded search:

How to think about an industry. Where an industry is on its consolidation curve, or if it's even on one. How to relate to owners. How to differentiate yourself as a buyer. How to best position yourself to perhaps one day sell the business you're trying to buy. These should be your considerations in a self-funded search as much as they are Jordan's in a $200m roll-up.

This was an exciting story and a rich education — the best kind of interview. I hope you agree.

Here is Jordan Dubin, co-founder of Guild Garage Group.

About

Jordan Dubin

Jordan Dubin

Show Notes

Register for the webinar:

Jordan Dubin and his partners are rolling up a home services industry. They blew by their 5-year goal in the first year.

Topics in Jordan’s interview:

  • Partnering with his 2 friends
  • Hand writing 200 letters to potential sellers
  • Building a platform of garage door businesses
  • Maintaining local brands
  • Why private equity hasn’t picked over the industry yet
  • How they chose the garage door market
  • Building trust through honesty
  • Hitting $20 million EBITDA in the first year
  • Beachhead and tuck-in strategies
  • The role of timing in acquisition success

References and how to contact Jordan:

Get a complementary pre-acquisition HR & PEO review for your target business:

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

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Connect with Acquiring Minds:

Listen Instead of Watch

Episode Transcript

Show Transcript