Would You Buy This 80-Year-Old Manufacturing Business?

Michael Girdley (0:00)

Welcome to the podcast today. We are now a new podcast. We are Acquisitions Anonymous, brought to you by and powered by Acquisition Lab, who is our new title sponsor. I'm Michael Girdley, one of the co-hosts and co-founders of the podcast. Today, we had Jordan, who is CEO of Acquisition Lab join us.

And we went through a pretty amazing deal that I think you'll enjoy. And it turned out I liked it and everybody else hated it. So stick around and you can see how it all ended up. And yeah, it's kind of a magical thing that I wasn't a hater on the deal and everybody else liked it. So here's the episode. I hope you enjoy it. Acquisitions Anonymous powered by Acquisition Lab.

Bill D'Alessandro (0:38)

Well said, Acquisitions Anonymous. Hello, another episode of Acquisitions Anonymous.

Michael Girdley (0:44)

We don't have 100% beers anymore.

Heather Endresen (0:46)

Thumbs downing on just the Plus Inventory Alarm.

Bill D'Alessandro (0:50)

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CEO Nick Akers acquired Inzo and recently led the company through its first add-on acquisition. He brings a buyer operator's perspective to what needs to be uncovered before the wire and stabilized once ownership changes hands. Inzo offers a complimentary IT risk audit of your target company to help surface the biggest risks in plain English and deliver a 30-day plan to reduce exposure and lower the risk of downtime. Visit inzotechnologies.com/eta and mention Acquisitions Anonymous. That's I-N-Z-O, technologies.com/eta.

Michael Girdley (1:45)

Hey, guys, I have some personal news for you guys I want to share. I want you to decide to change my name to Michael Girdley, powered by Acquisition Lab.

Bill D'Alessandro (1:54)

Oh, I love it.

Michael Girdley (1:54)

It's on my birth certificate, yeah.

Bill D'Alessandro (1:56)

I love it. Well, you know, it's interesting that I'm also renaming my first-born son to Joey D'Alessandro, powered by Acquisition Lab.

We're just joking because we are psyched to be joined by Jordan Fleagle from Acquisition Lab today, our newest headline sponsor for the pod. We're so psyched about this partnership. Acquisition Lab is the place to go, kind of the center of the ETA, entrepreneurship through acquisition ecosystem. I mean, Jordan, how many folks have you run through the lab now who have actually bought businesses? Hundreds?

Jordan Eagle (2:29)

Thousands? Over 1,300 that have gone through the lab and over 450 that have bought a business over the last six years.

Bill D'Alessandro (2:35)

That's awesome. So it's a co-ordered program, teaches people how to do it. It connects you with diligence providers, helps you source deals, evaluate them.

It's just been, the A-Lab guys have been very successful for a long time, so we're psyched to deepen our partnership with them. So as part of that, Jordan's going to be joining us some more on the pod, so nice to have you, man.

Jordan Eagle (2:55)

Likewise, thanks so much, guys. Excited about this, this is fun.

Bill D'Alessandro (2:59)

This is fun.

Michael Girdley (2:59)

Yeah, and we did find out another reason to like Jordan. He's a huge San Antonio Spurs fan, so.

Jordan Eagle (3:05)

Yes, yes, brutal last finals there, but yes, loyal.

Bill D'Alessandro (3:11)

So glad to see people backing up against us, Heather. We're going to have to have to recruit some non Texas people.

Michael Girdley (3:17)

That's right. Heather will support the Orange County NBA teams.

Heather Endresen (3:21)

Go Orange County. We have no sports teams.

Bill D'Alessandro (3:26)

All right. Girdley, you brought us a cool deal today.

Heather Endresen (3:29)

Yeah.

Michael Girdley (3:29)

Yeah. So this is an interesting one. It's in Massachusetts, which is nowhere near Orange County. That's basically the opposite of Orange County, would you say, Heather?

Heather Endresen (3:38)

Exactly the opposite, correct. Yeah.

Michael Girdley (3:40)

I can't think of anything similar except they're both in America. All right. It is the premier New England gear manufacturer with an 80-year legacy. So if you're interested in something Lindy, this may be it because they've been around for 80 years.

It is small, relatively small. They are asking $1.25 million and it is so small, they did not put any pictures on the listing. So there you go.

Cash flow measured as STE is $275,000. Gross revenue is $1.8 million and there is real estate worth $650,000 that is not included in the asking price. It has been around since 1946 So my math is, yeah, 80-year history right after the war was when this was started. Wow.