Key Points From the Interview
ou've no doubt heard the phrase creative dealmaking.
The idea that those able to think beyond conventional terms might be rewarded with a favorable deal, or at least a deal they might have otherwise lost.
Less talked about but just as significant is creative structuring.
![Stephen Quindlen & Paul Westhart at Blue Wrench](https://assets-global.website-files.com/61700e82cb5aa085677198a9/663924e160e672877d55947d_Stephen%20Quindlen%20%26%20Paul%20Westhart%20at%20Blue%20Wrench.png)
You heard one example a few weeks ago.
Robert Graham & Aaron Blick at Pillar Health Group are blending self-funded search with a roll-up model to keep using SBA debt to build a very large portfolio.
Today's guests, Stephen Quindlen and Paul Westhart, are another great example of creative structuring.
Stephen & Paul are buying auto repair shops.
Like Pillar Health, they've found a way to unlock lots of affordable debt, uncapping the $5m SBA loan total that limits most searchers.
They've also realized that by thinking about their holdings as 2 distinct portfolios — one auto repair businesses, the other real estate — the aggregate value of what they're building can be larger... potentially, much larger.
That, and a deep dive into the auto repair business, with Stephen Quindlen and Paul Westhart. Enjoy.