New Podcast: How This Entrepreneur Acquired An IT Managed Service Company Through A Traditional Search Fund

Hello SMB Deal Hunters!

I’m excited to share a new interview with Nick Akers, an entrepreneur who acquired an IT Managed Service company through a traditional search fund. 

Nick acquired STL Communications in May of 2023 and is on track to double (!) revenue in 2024.

Previously, Nick started a VC-backed company which he raised $30M for and exited. He also ran sales and business development for an engineering firm with 300 employees.

Today's issue is sponsored by SMB Diligence, the platform I helped start for matching business buyers with vetted legal counsel and Quality of Earnings providers.

FINAL CALL

Registrations open tomorrow for our 4-week live accelerator, the SMB Deal Hunter MBA. We’re going to be taking on 30 members and teaching them:

• How to source better deals

• Review them in hours vs days

• Make a great offer

• Avoid the usual due diligence red flags

We’ll be opening up exclusively to the waitlist tomorrow (this Thursday) for 24 hours before allowing the rest of the SMB Deal Hunter community in. There’s a high chance all the slots will be filled in that period. So, if you’re even slightly intrigued, join the waitlist.

👉 Join the Waitlist

WORK WITH ME

Want me and my team to work with you to source on and off-market deals, mentor you through closing your first acquisition, and introduce you to investors? Apply to join SMB Deal Hunter Pro.

👉 Learn more and book a call

INTERVIEW

In the interview with Nick, we discuss:

• How the traditional search fund model works (and whether Nick would do it again vs a self-funded search)

• How Nick wasted 6 months with his initial investment thesis

• What to focus on when diligencing an IT MSP deal

• Pros and cons of the IT MSP space

• How Nick built trust with employees after taking over the business

• The strategies Nick implemented to double sales this year

• And more!

👉 Watch the full 46-minute interview with Nick

PRESENTED BY SMB DILIGENCE

Here’s Why You Shouldn’t Skip Due Diligence…

A friend of mine put a business under LOI and asked me for my advice.

I recommended he contract a 3rd party due diligence partner to rebuild the company's P&L from scratch.

Turns out their EBITDA was off by 2x 😳

Enter SMB Diligence.

SMB Diligence is the platform I helped start for matching business buyers with vetted diligence providers, from M&A lawyers to Quality of Earnings providers.

Their network of experts has worked on hundreds of small business transactions (including many from the SMB Deal Hunter community).

👉 Get introduced to due diligence experts today

COMMUNITY PERKS

• Want to invest passively in SMB acquisitions? Get access to investment opportunities.

• Get a personal introduction to my preferred SBA 7(a) lender, non-SBA lenders, Quality of Earnings providers, or legal counsel

• Raising capital for your deal? I’ll connect you with investors from the SMB Deal Hunter Community.

• Interested in selling your business? I’ll help you connect with buyers from the SMB Deal Hunter Community.

THAT’S A WRAP

Want me to interview you for my podcast? Hit reply.

See you tomorrow with some new deals!

-Helen Guo
Find Me On Twitter
Find Me On LinkedIn

P.S. I'd love your feedback. Tap the poll below or reply to this email.

Disclaimer

This publication is a newsletter only and the information provided herein is the opinion of our editors and writers only. Any transaction or opportunity of any kind is provided for information only; SMB Deal Hunter does not verify nor confirm information. SMB Deal Hunter is not making any offer to readers to participate in any transaction or opportunity described herein.