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Millionaires Unveiled

312: I Felt Like the Hot Chick at Prom: A Raw Conversation on Selling to Private Equity

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8872 Ratings

🗓️ 14 September 2023

⏱️ 57 minutes

🧾️ Download transcript

Summary

Part 2 with Chad on selling his company to Private Equity.

Transcript

Click on a timestamp to play from that location

0:00.0

And that's when I knew, you know, I asked them some questions on, you know, what do you look for?

0:06.4

How do you value businesses?

0:07.6

They were very upfront about it and, you know, kind of gave me some guidelines and he said you know you really need to

0:14.8

do X Y and Z and the more you do of it the more value your business will have to

0:20.8

companies like mine even if I don't buy you, the other companies will.

0:25.6

So I just followed their advice kind of generically.

0:30.0

And I knew back then, you know, probably 10, 12 years where I sold my business that that's how it would end at some point.

0:38.0

I just didn't know when and for how much. The prices were inflated. It was a very interesting time. I

0:46.5

equated it. I told my wife, I said, you know, I feel like the hot chick at prom

0:51.5

because everybody wants me, everybody's looking at me it was just

0:56.2

awesome right like you're like the most you just it was really kind of cool

1:00.4

everybody wants to take you to dinner, everybody want to meet with you

1:03.0

and whatever, it's fascinating, right?

1:05.0

Because I'm the one used to using the court people

1:08.0

for, you know, making the sale and all that

1:10.0

and then they're courting me,

1:11.0

which is out of character for how I've been doing business for 20 years.

1:15.0

And I'll tell you the day you sign the papers, that ends.

1:20.0

Welcome millionaires and future millionaires.

1:23.0

You're listening to the Millionaires Unveiled Podcast.

1:26.0

The show where you'll hear the stories and interviews of everyday millionaires.

1:30.0

We'll unveil their decisions, their strategies, and their portfolio allocations.

...

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