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$700k EBITDA acquisition with No Money Down - How this Village Wellth customer pulled this off
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Our friends at Acquiring Minds did a podcast with Andrew Stordeur who bought at 25-year-old outdoor furniture manufacturer.
The podcast spends a lot of time on the fact that Andrew, a Canadian in Calgary, not only had no problem accessing financing from banks in Canada to do this deal.He got great terms. Andrew had to use very little of his own money to buy a business doing $700k in EBITDA. You'll hear, a big part of the advantageous terms he secured from the banks was based on the fact that the seller was willing to finance a big piece of the deal: in the 35% range.
Topics in Andrew’s interview:
- Taking a startup to an IPO
- Competition in the wood furniture space
- Financing without the SBA
- Advice for Canadian searchers
- Getting a 35% seller note
- His 100% financed deal
- His plan to increase direct-to-consumer sales
- Being the sole breadwinner for a family of 6
- Deciding not to buy with a partner
- How his company ships faster than Amazon
A great listen or watch the video!
Need help with acquisition lending. We got you!
Acquirewell, by Village Wellth, stands as a valuable tool to navigate these challenges. By fostering competitive tension, expediting transactions, and securing favorable terms for buyers, Acquirewell accelerates and streamlines the acquisition lending process. It's the compass that guides you through the twists and turns of the acquisition journey, helping you reach your destination with confidence.
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