From Software to Concrete Cutting (and $1.4m of SDE) | Tom McCormick Interview

Today’s guest didn’t want to return to corporate life. After leading a PE-owned software company through an exit, 52-year-old Tom McCormick had little interest in going back to “a role within a larger machine.” Then he read Buy Then Build. Soon after, Tom acquired a concrete cutting and coring business, a sharp turn from enterprise software. The transition has been a success. The business is stable, improving steadily, and Tom has been careful not to force change too quickly on a 20-year-old company. We spend a lot of time on the deal itself, including how a simple reframing with the seller rescued negotiations that nearly collapsed. Tom’s flexibility may explain why he owns a business today while many searchers are still looking years later. Here is Tom McCormick, owner of Quality Cutting and Coring. ❤️ Enjoy this interview? SUBSCRIBE for more: https://shorturl.at/zaP1m 00:00 Intro & Career Background 01:49 Executive Job Search 08:14 Search Strategy & Deal Flow 21:32 Concrete Business Overview 35:43 Deal Structure Challenges 41:39 First LOI Lessons 46:32 Seller Negotiation Success 1:09:06 Post-Acquisition Changes 1:14:24 Financial Performance 1:26:10 Growth & Exit Vision 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