How I Bought 4 Companies in 25 Months (during Covid Pan.) w/ NONE of My Own Money

How I Bought 4 Companies in 25 Months (during Covid Pan.) w/ NONE of My Own Money

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M&A Checklists & Content.

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I did this with...

  • NO prestigious B-school degree
  • NO prior executive biz experience
  • NO money of my own…

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  • Mistakes I’ve made and how you can avoid them
  • The most effective method for buying your first biz

Jason's M&A Timeline

— KB Mechanical (August 17th, 2021)

  • Jason’s investment group Brighter Utilities purchases KB Mechanical to expand into commercial and residential HVAC in the Tampa metro. 
  • The company will come under the B&B Professional Plumbing & Air umbrella for synergies, cost-savings, brand-building purposes, etc.
  •  Deal Specs: 100% seller-finance with the AR and AP included in the transaction

— Patterson International Service Corp. (August 17th, 2021)

  • On the same day KB was acquired, Jason’s investment group Brighter Utilities purchases Patterson International Service Corp. to expand into commercial and residential HVAC in the Tampa metro. 
  • The company will come under the B&B Professional Plumbing & Air umbrella for synergies, cost-savings, brand-building purposes, etc.
  •  Deal Specs: 103% financed by a private lender with the AR (but excluding the AP) included in the transaction (transaction over-financed by ≈3%, not including a recent growth capital loan procured on August 13th, 2021 – see below).
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— B&B Professional Plumbing & Air (November 7th, 2020)

  • Jason’s investment group Brighter Utilities purchases B&B Professional Plumbing and associated real estate in the Tampa, FL Metro (63% business, 37% real estate). 
  •  Deal Specs: 82% SBA 504/7(a) blended loan, 18% seller finance, 8% private investor equity, 11% SBA working capital loan (transaction over-financed by ≈19%).
  • In December 2020, Jason procured another working/growth capital loan from the SBA which represents another 11% of the total purchase price (transaction now over-financed by ≈30%).  
  • Organic Milestones:
    • Tripled the revenue of the service department in April 2021. 
    • August 11th, 2021: Growth capital loan on an 8-year term procured to expand B&B in the Tampa metro (≈10% of the original purchase price for B&B, so at this point, the original transaction for B&B has been over-financed by 46%).
    • August 13th, 2021: First day when more than 7 figures of value in two new projects was awarded to B&B (two new grocery stores being built in the Tampa metro).
    • August 17th, 2021: Name changed to B&B Professional Plumbing & Air.
  • The company has a 30-year history of outstanding relationships with large commercial retailers in the Tampa Bay metro. The company focuses on new commercial construction and ongoing service/maintenance, but is expanding into residential work as well. Companies such as Publix, LA Fitness, Aldi, HomeGoods, Winn Dixie, BJs, Westfield Countryside Mall, and Sprouts all trust B&B Plumbing with their plumbing projects. Many of these companies have asked B&B Plumbing to be their main plumbing contractor as they expand in Florida.
  • B&B has high returns on capital (ROIC), significant growth prospects in Florida, and a competitive advantage amongst the utility service players in the Tampa metro.  

— Sunset Acres Manufactured Housing Community & Storage Facility (August 9th, 2019)

  • Jason’s investment group Brighter Living Properties purchases Sunset Acres just outside of Omaha, NE. 
  • Deal Specs: 88% seller finance, 12% private investor equity, and 5.5% working capital from a private equity investor (transaction over-financed by 5.5%).
  • With a significant amount of economic growth and job growth, the area that BLP’s new housing community serves has a major supply-demand imbalance for affordable housing. 
  • Economic occupancy stayed at 100% for the community during the Coronavirus Pandemic and the property has been a success for investors.
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