Creating a "Second Bite of the Apple" in M&A | Chris Meso
Today I have a special guest, friend, and forward-thinking entrepreneur, Chris Meso. In 1989 while still in his twenties, Chris founded Mobile Air, which after more than 30 years of growth has become the largest private, portable HVAC specialty services business in North America. What's special about Chris's story is that not only did he know the right time to sell the business, but Chris also helped the private equity firm who acquired his business envision a strategy to roll up his competitors.
Chris believed so much in this roll up strategy that he negotiated significant equity in the overall business platform, which created a substantial "second bite of the apple" for him when the private equity firm sold the platform just two years later. On today's episode, Chris and I talk about the importance of preparing to sell a business and choosing the right buyer with the right strategy to maximize your ultimate outcome.
I hope you enjoy my conversation with Chris.
E15: Today I have a special guest, friend, and forward-thinking entrepreneur, Chris Meso. In 1989 while still in his twenties, Chris founded Mobile Air, which after more than 30 years of growth has become the largest private, portable HVAC specialty services business in North America. What's special about Chris's story is that not only did he know the right time to sell the business, but Chris also helped the private equity firm who acquired his business envision a strategy to roll up his competitors.
Chris believed so much in this roll up strategy that he negotiated significant equity in the overall business platform, which created a substantial "second bite of the apple" for him when the private equity firm sold the platform just two years later. On today's episode, Chris and I talk about the importance of preparing to sell a business and choosing the right buyer with the right strategy to maximize your ultimate outcome.
Today, Chris runs T Rex Advisory helping business owners implement simple, proven organizational frameworks to tone down chaos, earn more and go back to falling in love with their business.
A few highlights:
(4:30) ... Working in an ultra-competitive industry and building the moat that changed his future
Chris believed so much in this roll up strategy that he negotiated significant equity in the overall business platform, which created a substantial "second bite of the apple" for him when the private equity firm sold the platform just two years later. On today's episode, Chris and I talk about the importance of preparing to sell a business and choosing the right buyer with the right strategy to maximize your ultimate outcome.
Today, Chris runs T Rex Advisory helping business owners implement simple, proven organizational frameworks to tone down chaos, earn more and go back to falling in love with their business.
A few highlights:
(4:30) ... Working in an ultra-competitive industry and building the moat that changed his future
(11:15) ... Trying to understand what Mobile Air was worth
(22:53) ... The Kumbaya Dinner, and negotiating the next bite of the apple
(29:44) ... As an entrepreneur, "I left nothing on the field... and got off the field at the right time to enjoy the fifth quarter of my life."
I hope you enjoy my conversation with Chris.
The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/
