Growing a $5m Metal Business 40% in Year 1 | Caleb Standafer Interview

Today’s guest left tech for manufacturing, a move few peers understood. But Caleb Standafer knew manufacturing required real industry experience, not just ambition. After years working in the field and searching part-time for an acquisition, he bought Springfield Tool & Die in 2024 at $5m revenue. In his first full year as owner, he grew the business to $7m and expanded the team from 17 employees to the mid-20s. We discuss how he made the transition, the realities of metal manufacturing, and how he manages a business where one customer drives over 70% of revenue. Here is Caleb Standafer, owner of Springfield Tool & Die. ❤️ Enjoy this interview? SUBSCRIBE for more: https://shorturl.at/zaP1m Chapters: 00:00 Caleb’s background 04:24 Four-year search process & acquisition criteria 13:48 Values-driven culture & employee development 22:27 Financial requirements & deal structure 25:30 Why Springfield Tool & Die stood out 34:17 Machine shop industry & competitive dynamics 44:42 Deal structure – SBA debt & environmental issues 52:47 Managing 75% customer concentration 01:13:08 Achieving 40% growth through process improvements 01:21:04 Future vision & partnership with father CONNECT with the Acquiring Minds podcast, socials, etc. 🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u... 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast... 👉 Get notified of new interviews: https://acquiringminds.co 👉 Follow host Will Smith on Twitter:   / whentheresawill   👉 Connect with host Will Smith on LinkedIn:   / willsmithsf   ABOUT Acquiring Minds Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week. Credits: Edited by Anton Rohozov Produced by Pam Cameron #business #acquisitions #buyingbusiness