Latest Permanentcapital Podcast Episodes
Announcing: The Operator’s Handbook with a Special Interview by Tim Ludwig
Think Like an Owner - September 16, 2021 07:00 - 47 minutes ★★★★★ - 98 ratingsThis is a special episode of Think Like an Owner. In this episode, Tim Ludwig turns the microphone around to interview me on where my interest in small companies came from, starting and building Think Like an Owner, memorable moments from running the podcast, my answers to my own closing question...
Reg Zeller - Quitting Corporate to Roll Up Foundries - Ep. 81
Think Like an Owner - September 14, 2021 07:00 - 57 minutes ★★★★★ - 98 ratingsMy guest on this episode is Reg Zeller. Reg worked in corporate engineering roles for many years before deciding to leave and do his own thing. His own thing ended up being rolling up foundry businesses through his holding company CaneKast, with five companies acquired so far. These companies ar...
Mia Jackson - Applying Experience and Passion in Health Care - Ep. 80
Think Like an Owner - September 07, 2021 14:00 - 47 minutes ★★★★★ - 98 ratingsMy guest on this episode is Mia Jackson. Prior to searching and acquiring her health care supply business, Vital Care Industries, Mia worked in consulting, engineering and supply chains, a friend’s start-up for a time, and received her MBA and Masters of Science in Engineering Management from Nor...
Craig Fuller - Acquiring Flying Magazine and Building a Media Playbook - Ep. 79
Think Like an Owner - August 31, 2021 07:00 - 1 hour ★★★★★ - 98 ratingsMy guest on this episode is Craig Fuller. Craig is the founder of FreightWaves, a data and media business focused on freight and supply chains. FreightWaves is a VC backed company with $19 million in revenue with editorial content, a data product, job board, video content, and multiple podcasts. ...
John Rood - Business Building is System Building - Ep. 78
Think Like an Owner - August 24, 2021 07:00 - 50 minutes ★★★★★ - 98 ratingsMy guest on this episode is John Rood. John started an education business with his wife that began as a SAT and other tests prep business and eventually found its niche in MCAT testing. Together they grew the business adding tutors and a management team before selling to private equity. John has ...
Peter Bell - Growing an Emergency Equipment Distribution Business - Ep. 77
Think Like an Owner - August 17, 2021 07:00 - 55 minutes ★★★★★ - 98 ratingsMy guest on this episode is Peter Bell. Peter and Justin Turner were guests on my fourth ever podcast episode and were very early supporters of the show. Their firm, along with two other partners, is Traction Capital Partners in Tacoma, WA. Traction is an independent sponsor which now owns 3 comp...
Brent Beshore - Building and Growing a Competitive Advantage at Permanent Equity - Ep. 76
Think Like an Owner - August 10, 2021 07:00 - 46 minutes ★★★★★ - 98 ratingsMy guest on this episode is Brent Beshore, the founder and CEO of a lower middle market private equity firm called Permanent Equity. Permanent Equity acquires family-owned companies and has 11 in their portfolio today. They have also raised two 27 year funds, a $50 million fund in 2017 and a $248...
Peter Kang - 15 Years In And Just Getting Started - Ep. 75
Think Like an Owner - August 03, 2021 07:00 - 50 minutes ★★★★★ - 98 ratingsMy guest on this episode is Peter Kang, who co-founded a digital branding and design company focused on direct to consumer e-commerce called Barrel. For long-time listeners of the podcast, the name Barrel may sound familiar. Barrel was one of the original sponsors of Think Like an Owner as we bec...
Dave Waters - Lessons from Investing in Small Public Companies - Ep. 74
Think Like an Owner - July 27, 2021 07:00 - 1 hour ★★★★★ - 98 ratingsMy guest on this episode is Dave Waters. Dave is the founder and CEO of Alluvial Capital, a value based hedge fund focused on the smallest public companies with market caps of $5-100 million, located in Pittsburgh, Pennsylvania. Dave is fascinating to me because he has dedicated his career to inv...
Nick Fedele - Death, Taxes, and Stuff Goes Sideways - Ep. 73
Think Like an Owner - July 20, 2021 07:00 - 50 minutes ★★★★★ - 98 ratingsMy guest on this episode is Nick Fedele who recently acquired a 30 employee sheet metal construction business called Metal Alliance Inc near Philadelphia. Nick has a background in public accounting before taking on a management consulting role and eventually becoming a CFO. After 2 years as a CFO...
Tony Cappaert - “Every Company is Underpricing” - Ep. 72
Think Like an Owner - July 13, 2021 07:00 - 49 minutes ★★★★★ - 98 ratingsMy guest on this episode is Tony Cappaert. Tony started his career at Microsoft before co-founding a CRM software business for real estate agents called Contactually. The company was acquired by Compass in 2019 where Tony serves as Head of Lead Generation. As you’ll see though, Tony is a busy man...
Manny Saxena - Buying Into the World of Commercial Sweeping - Ep. 71
Think Like an Owner - July 06, 2021 07:00 - 49 minutes ★★★★★ - 98 ratingsMy guest on this episode is Manny Saxena. Manny grew up in India and decided he wanted to become a CEO. To prepare for the role, he attended Kellogg’s MBA program and built leadership experience at Sears and Persado. Finally, he partnered with Broadtree Partners to acquire two commercial sweeping...
RE Miniseries Part 3: Chris Powers - Boring Businesses and Industrial Real Estate - Ep. 70
Think Like an Owner - June 29, 2021 07:00 - 31 minutes ★★★★★ - 98 ratingsMy third and final guest in this real estate miniseries is Chris Powers. Chris is the founder and GP of Fort Capital, a real estate private equity firm in Fort Worth, TX focused on industrial real estate. He’s also a fellow podcast host with his show called The Fort Podcast, which is excellent an...
RE Miniseries Part 2: Moses Kagan - How Business Owners Should Invest in Residential Real Estate - Ep. 69
Think Like an Owner - June 22, 2021 07:00 - 50 minutes ★★★★★ - 98 ratingsThis is the second episode in a three part miniseries on real estate, which kicked off last week with Nick Huber, and is resuming with this episode focusing on residential real estate with Moses Kagan. Moses is the founder and GP of Adaptive Realty, a real estate private equity firm which acquire...
RE Miniseries Part 1: Nick Huber - Operating a Moving Company and a Self-Storage Portfolio - Ep. 68
Think Like an Owner - June 15, 2021 07:00 - 40 minutes ★★★★★ - 98 ratingsToday’s episode is the first in a three-part miniseries on real estate. Even though Think Like an Owner is a small company focused podcast, many small company owners also own real estate and I thought a short miniseries would be an interesting way to bring that conversation onto the podcast. Th...
Eric Factor & Austin King - Operating in the Crane Business - Ep. 67
Think Like an Owner - June 08, 2021 07:00 - 50 minutes ★★★★★ - 98 ratingsMy guests on this episode are Eric Factor and Austin King who together raised a long-term holding company called Era Services with the mission to acquire, operate, and grow industrial service companies. Their first acquisition completed earlier this year is a company called CraneTech which instal...
Sam Rosati - An Incubator, Conference, and a Business Sale - Ep. 66
Think Like an Owner - June 01, 2021 07:00 - 44 minutes ★★★★★ - 98 ratingsMy guest on this episode is Sam Rosati. Sam was an early supporter of the podcast and was featured on Episode 11, which I highly recommend listening to prior to this one. In that earlier episode, Sam shares his background and how he and his brother Joey together acquired a company called Alpha Du...
Elliot Epstein - Running a Model Aircraft Business - Ep. 65
Think Like an Owner - May 25, 2021 07:00 - 1 hour ★★★★★ - 98 ratingsI’m a big aviation geek. I love flying, looking at airplanes and seeing where they’re going via Flightaware on my phone, and collecting model aircraft. My guest today, Elliot Epstein, founded Geminijets, a company that makes metal diecast commercial airplane models. Beyond just the aviation natur...
Chase Murdock - Buying Not Boring Businesses - Ep. 64
Think Like an Owner - May 18, 2021 07:00 - 54 minutes ★★★★★ - 98 ratingsMy guest on this episode is Chase Murdock. Chase started his career as a venture-style entrepreneur with a custom suit business after spending time working in the Philippines and Southeast Asia. After the business didn’t go as planned, Chase and his business partner Adam Malmborg decided to pursu...
Victoria Sylvester - Growing a Training Company with a Global Focus - Ep. 63
Think Like an Owner - May 11, 2021 07:00 - 55 minutes ★★★★★ - 98 ratingsMy guest on this episode is Victoria Sylvester, or Vikki for short. Vikki is the founder of Acacia Training, a U.K. based training company focused on childcare, healthcare, and dental care. I was very excited for this conversation for a number of reasons. First, Vikki sold Acacia to MBH through t...
Steve Ressler - How to Invest in Search Funds - Ep. 62
Think Like an Owner - May 04, 2021 07:00 - 52 minutes ★★★★★ - 98 ratingsMy guest today is Steve Ressler. Steve has been an entrepreneur for much of his career in software and government services and has recently been translating that experience into search fund investing, among other projects. A good portion of our discussion focuses on evaluating and scaling niche s...
Palmer Higgins - Removing Sales Roles at Mainely Grass - Ep. 61
Think Like an Owner - April 27, 2021 07:00 - 30 minutes ★★★★★ - 98 ratingsThis is the second episode of an experiment I did on a new episode format that was shorter, 20-30 minutes, and focused entirely on ideas and challenges operating small companies. The first episode in this experiment was last week’s episode with Jason Hill on adding food to the office and some of ...
Jason Hill - Benefits to Making Food a Stronger Priority at Work - Ep. 60
Think Like an Owner - April 20, 2021 07:00 - 23 minutes ★★★★★ - 98 ratingsThis episode and next week’s episode are both experiments I did a while back with Think Like an Owner when I was considering launching a new podcast series. The aim for these was to have short, 20-30 minute episodes on specific ideas and challenges operating small companies. I may eventually laun...
Justin Vogt & Ed Redden - Creating a Long-Term Holdco at Evermore Industries - Ep. 59
Think Like an Owner - April 13, 2021 07:00 - 58 minutes ★★★★★ - 98 ratingsMy guests, Justin Vogt and Ed Redden are the co-founders of Evermore Industries, a holding company looking to acquire industrial service companies with a time horizon measured in decades. Justin and Ed also happen to be the co-founders of the Stanford Search Fund Club during their time at Stanfor...
Deepa Talwar - From Silicon Valley to Searching on Main Street - Ep. 58
Think Like an Owner - April 06, 2021 07:00 - 54 minutes ★★★★★ - 98 ratingsMy guest on this episode is Deepa Talwar. Deepa is currently searching for a company from her home in Fort Collins, CO. Her background includes working with prominent Silicon Valley tech companies like Uber, Thumbtack, and Stripe, and she decided she wanted to become an entrepreneur, but not in t...
Ross Brendel - Investing in Permanent Capital Vehicles - Ep. 57
Think Like an Owner - March 30, 2021 07:00 - 50 minutes ★★★★★ - 98 ratingsRoss Brendel is the cofounder and managing partner of Westerly Group alongside cofounder Rich Littlehale. Westerly Group was founded on the principle of supporting acquisition entrepreneurs with committed, permanent capital to pursue a specific industry thesis over an indefinite time horizon. Gro...
Ayo Phillips - Small Company Firefighting - Ep. 56
Think Like an Owner - March 23, 2021 07:00 - 53 minutes ★★★★★ - 98 ratingsAyo Phillips has the wildest story I’ve ever heard on the podcast. He’s from Nigeria, immigrated to the U.S. when he was young, worked in engineering before getting his MBA at Kellogg, acquired countertop and bathtub refinishing company called Perfect Surface in Houston while his wife had their ...
Mark Valdez - From a16z to Eads Bridge Holdings - Ep. 55
Think Like an Owner - March 16, 2021 07:00 - 46 minutes ★★★★★ - 98 ratingsMy guest, Mark Valdez, is starting a new permanent capital holding company called Eads Bridge Holdings to acquire small profitable, durable companies with a long-term focus. What I found so interesting about Mark is he began his career in venture capital and was one of the early employees at Andr...
Mark Hunter - Lessons from a Career in Micro Private Equity - Ep. 54
Think Like an Owner - March 09, 2021 08:00 - 1 hour ★★★★★ - 98 ratingsMark Hunter is a treasure trove of insights and stories from a career in micro private equity. Mark is a co-founder of KLH Capital in St. Petersburg, Florida and has been a part of deals all over the country from all walks of life. In this episode he shares many counter-intuitive methods he’s use...
Kelcey Lehrich - Building an E-Commerce Portfolio - Ep. 53
Think Like an Owner - March 02, 2021 08:00 - 40 minutes ★★★★★ - 98 ratingsMy guest, Kelcey Lehrich, is the co-founder of 365 Holdings, a firm that acquires and grows e-commerce brands with a focus on shared services and vertical integration. He and his firm view e-commerce with an interesting lens, one of their most interesting ideas being their view on product vs cust...
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