Joseph Lampen

Today's story is just the latest where a first — and very humble — acquisition has grown into something impressive. In 2018, Colin King, CPA, CFA and his partner Joe bought a business doing just $250k in revenue. It was a route business that distributed parts to automotive service centers & dealers in the Indianapolis region. Every night, in the middle of the night, their employees would drive from auto dealer to auto dealer delivering car parts. And yes, you guessed it, it wasn't long before Colin & Joe were having to drive those routes themselves. Matter of fact, it was the *very first night* they owned the business when 2 of their drivers didn't show up. There would be dozens & dozens more nights like that to come. Well you probably aren't surprised to hear that Colin & Joe no longer own that business. Today, their portfolio looks like this: * an apparel business (including a just-acquired teddy bear brand!), * a décor distributor, * a Montessori distributor, * and a financial training business. Aggregate revenue is approaching $30m. A long way from those 2am drives between Indianapolis & Toledo. This is the story of how two guys with a willingness to buy imperfect businesses and just figure it out have built a holdco that is really just getting started. Here's Colin King, co-owner of Circle City Capital Group. ( 👉 link to interview in comments below)

76

8 Comments

Sometimes, the best business meetings don't start with business at all. When my director of portfolio ops and I visited a plastic injection molding business in Toledo, we spent the first two hours talking about fishing and family. It might seem counterintuitive, but building rapport is crucial. We didn’t touch business until everyone was ready. Believe me, the connections you forge outside the boardroom lay the foundation for successful deals. Building rapport is more than just small talk; it's the cornerstone of strong business relationships. Never underestimate the power of a good conversation. What topic are you most interested in? #BusinessStrategy #EntrepreneurLife #BuildConnections #BusinessGrowth #NetworkingTips

13

If you're a startup raising angel or VC funds in Wisconsin, you should definitely check out this investor map. 👇 I often use this to take inventory of Wisconsin investors for the Tundra Angels portfolio companies to reference groups or funds that may make sense for potential intros. Amazing credit to Tom Still, Joe Kremer, Angela Schlobohm, and the whole Wisconsin Technology Council team for aggregating this graphic and continuing to update it! It's a mega value add! 🙌 #startups #entrepreneurship #tech #venturecapital #pitching #angelinvestors #investors #founders #pitch 

98

37 Comments

"Are you interested?..." An investment banker calls you to with an acquisition opportunity for your bank. The pitch goes something like this: "We have a possible acquisition for your bank. The bank is in a Midwest metropolitan market. The bank is about $250 million in assets. Their focus is on C&I - working capital lines of credit, term loans, and owner-occupied real estate. Treasury management is also an area of focus. The management steam is a strength. Can be used to plug management succession gaps. CICs and Stay-Puts are in place. The board is exploring strategic options, with a sale being one of them. They understand the power of scale. Strong bank. Solid team in a high-growth market that fits nicely with your footprint. Are you interested?" Now imagine an investment banker calling a bank to see if they would be interested in buying your bank... How would your bank be described? Tomorrow, in my free weekly newsletter "The Savvy Banker" we're going to go a little deeper on the topic of: Bank Mergers: How does a successful “deal team” and data room work? Click here to subscribe: https://lnkd.in/gS8ZsFyc

3

The NFL season starts this week and they are still the revenue kings of Sports. 5 stats that might surprise you: 1) The Cowboys have nearly 33% more revenue than the #2 NFL team. 2) The least valuable NFL franchise (Cincinnati Bengals) is worth nearly $1B more than the most valuable NHL Franchise (Toronto Maple Leafs). 3) Expect to pay more than $233,000 per second for a 30-second ad in this year's Super Bowl. 4) NFL teams average less than 20% of revenues from ticket sales with National TV deals making up the bulk of their revenue. 5) The NFL's $14B deal with YouTube for NFL Sunday Ticket is facing a $4.7B lawsuit that could change the distribution landscape of games.

279

31 Comments

Given small-cap companies rely more heavily on floating rate debt, higher rates can have a disproportionate impact on interest costs as compared to large caps. Read what our experts have to say. #economy #investors #Fed

1

Given small-cap companies rely more heavily on floating rate debt, higher rates can have a disproportionate impact on interest costs as compared to large caps. Read what our experts have to say. #economy #investors #Fed

1

If you don't have a personal mental health plan, come to my session at Bridging the Gap, let's get intentional - I'll take you on my journey and how I built my support system. #btg24 #bridgingthegap24 #notyouraverageaccountingconference 

37

📣 I’m really concerned about the new regulations going into effect on January 1, 2025, in Illinois regarding patient lending and third-party financing. Let me be clear: I’m not a lender, and I don’t have any skin in the game when it comes to which lender providers work with. Lenders, like any business, have their strengths and weaknesses. To do my job effectively, I can’t partner with any particular lender. Integrity is everything to me, and to serve providers in the best way possible, I have to remain completely impartial. For years, I’ve wanted to implement a Patient Lending Certificate Program, and frankly, it’s time. If we can get office representatives properly trained to understand the credit basics, the underlying mechanics of lending, and how to match the right loan to the right treatment plan, case acceptance will increase, portfolio performance will be enhanced and, most importantly patients will receive the care they want and need. The reality is patient care will suffer if these rules are enforced as they stand. I’ve been trying to reach out to the Illinois Dental Society to talk about these concerns, but so far, no luck. What worries me is that, while some of these programs and guidelines are necessary, they could end up harming the very patients they’re meant to protect. Which I believe, is not the intent. I really believe we need to address this before it’s too late. We have to make sure patients still have access to the care they need without running into unnecessary roadblocks. Please reach out with thoughts, concerns, etc. #PatientFinancing #DentalLending #PaymentLoans #Regulations #Education #PracticeTraining

24

16 Comments

Excited that Wayne Contracting and Vizex Branding were both able to land on the Inc 5000's list of America's Fastest Growing Companies in 2024. Appreciate all the hard work that the teams put in last year and continue to do today. Thanks to all the client partners for continuing to believe in us. Wayne Contracting - Ranks Times on the List - 3 In MO - #9 In Construction - #63 In St. Louis - #6 Growth - 406% Vizex - Ranks Times on the List - 2 In MO - #8 In Construction - #61 In St. Louis - #5 Growth - 413%

77

20 Comments

Working with the right financial advisor can help hold you accountable on your journey to financial freedom. Plante Moran Wealth Management Principal Rob Forte and Manager Zach Auxter share 5 reasons to consider hiring a professional financial advisor in their latest article. Read here. #financialadvisor #wealthmanagement #financialplanning https://okt.to/8HqaOi

1

Going PRO Talent Fund applications have opened for 2025. Michigan Manufacturers Association Locating, training and retaining talent remains a top business challenge for manufacturers. More than $55 million is available to Michigan employers for Fiscal Year 2025, which extends from 10/1/2024 to 9/30/2025. Since 2014, the Going PRO Talent Fund has provided more than $170 million to more than 7,000 Michigan employers with an average award amount of $39,547. What is the Going PRO Talent Fund? The Going PRO Talent Fund awards funds to employers for training, developing and retaining current and newly hired employees. MMA (Michigan Manufacturers Association) can help with applying for funds and identifying training programs. #manufacturing #employeetraining #innovation #uhy

3

Are you looking for insights to help you navigate the current market climate? Join us on May 21 for a midyear update with Plante Moran Financial Advisors’ experts. #investorinsights

1

Today's Boring Biz (#95): Janitorial Firm - $3.8M Revenue - $557K Cashflow - $1.7M Ask Price - 3.1x Cash Multiple - Illinois Note: We do not represent this deal, highlighting for informational purposes only for viewers What does the company do? 1. Janitorial services 2. Day time staff + night time staff 3. Routine cleaning for commercial spaces Investment highlights 1. Established client contracts 2. History of profitability 3. Recurring revenue Investment risks/concerns 1. Employee turnover 2. Operational day-to-day 3. Regulatory compliance/ cleaning licenses #SMB #ETA #finance #Cashflow #investing #search #searchfund #privateequity #microprivateequity #smallbusiness #venturecapital #vc #entrepreneur #business #businessowner #janitorial #firm #cleaningbusiness #illinois Disclaimer: Hypothetical and illustrative only. Please do your own research (DYOR) or work with tax and legal professionals before making a decision. This video are intended for informational purposes only and does not constitute legal or tax advice, nor should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by SMB PE LLC or any third party.

11

2 Comments

I've had 50+ conversations with out-of-state investors looking to get into Indiana, and I don't know why that number isn't 10x higher. I'm blown away that the Midwest doesn't get more attention. Indiana: ➡️ Median HH Income*: $69,477 ➡️ Cost of Living**: $42,697 Nationally: ➡️ Median HH Income*: $80,610 ➡️ Cost of Living**: $77,280 Indiana has the 8th lowest cost of living in the nation. The Midwest has been hit with high home prices like everywhere else, and homeowners aren't moving. But, unlike the Sun Belt, the Midwest never saw a true construction boom in multifamily. Rent growth has remained steady, vacancies are still low (though increased YoY marginally), and multifamily property values have seen less volatility over the past few years than other markets. People are starting to notice, but nowhere near enough. ______________________________________ *US Census Bureau **SOFI

14

2 Comments

13 May 2024..........Market Updates The Michigan Consumer Sentiment registered 67.4 (consensus 76) last Friday but the dollar did not fall but strengthen as the market sentiment shifted to a hawkish US Interest rates stance. Holding out at the current 5.5% for longer seemed to be the key as Kashkari, Bowman, Goolsbee and Barkin all reiterated the same message to hold rates. The S&P traded up initially but lost all its upside momentum and closed a tad lower. The DXY and the US10Y did likewise. The only exception was the XAU, which traded higher to hit 2338 before closing @ 2360.00. The XAU was the only currency that correlated positively to the weaker US data. Last week, the DXY managed to reverse 2 weeks of losses and reclaim the 105.00 barrier. This week, US PPI, CPI and Retail Sales and continued US FED Speakers will reign the market. Technically, the DXY and US10Y is expected to trade lower this week. Using USD/JPY as a proxy, 156.00 is expected to cap for a run towards 148.00 by the end of the week. The catalyst will likely be from this Tuesday and Wednesday's scheduled US PPI and CPI data release respectively. Do note that the FED is currently being guided weekly by data points and the "hawkish" narratives could immediately change once they are data supported. This is a bold call but the technicals are stacking up. Let's see. #privatebanking #familyoffices

2