Outline of this episode
- [1:17] Extended promotion of www.OnlineMetals.com from Thyssen Krupp (sponsor). Get your 15% discount by using the code CHIPS2 (through September 2015)
- [3:12] Business news: Acquiring a new business as part of your current business?
- [5:17] Introduction of our Guest: Tom Hilaris, CEO of Ergoseal.
- [6:16] Tom’s recent experience acquiring companies to add to his present company.
- [7:12] The motivations involved in buying and selling companies.
- [8:29] The steps Tom took to begin acquiring companies and how they navigated the journey.
- [9:34] What is an acquisitions advisor? How does his role help in the process of acquiring a company?
- [11:24] Gaining a product line through an acquisition - the benefits Tom experienced.
- [12:31] How gaining the customer list of an acquired company boosted sales, etc.
- [14:11] Tom’s decision to acquire a second company that was in the same building his company was in.
- [15:22] How an acquisition could be a good option for older owners who are thinking of liquidating.
- [15:59] How the advisor helped them determine the costs and projections for the acquisition.
- [18:09] What is the best approach to finding funding for a company acquisition, and what hurdles or roadblocks might you experience?
- [21:50] The impact federal regulations have on business financing for acquisitions and growth.
- [22:47] The 3 fundamentals to consider when thinking about an acquisition of another company.
- [25:07] Be careful of the overall costs - add 30%.
- [27:40] Tom’s plans for further acquisitions.
- [28:44] Contact Tom Hilaris on LinkedIn.
- [29:19] Please comment or interact about these issues on the show notes page www.MakingChips.com/38
Links mentioned in this episode
Connect with Tom Hilaris through his LinkedIn Profile - https://www.linkedin.com/pub/tom-hilaris/5/552/a45
Tom’s company - Ergoseal - http://www.ergoseal.com/
Or call us at 312-725-0245
Tweets you can use to tell others about the episode
[shareable]Benefits of company acquisitions, on this episode of #MakingChips[/shareable]
[shareable]There are more ways to #GrowYourBusiness than adding customers[/shareable]
[shareable]3 fundamentals to consider when looking to acquire another company[/shareable]
[shareable]Add 30% to the acquisition costs you have on paper - here’s why[/shareable]
[shareable]Company culture is a huge consideration when acquiring another company[/shareable]
Use the promo code CHIPS2 for 15% off at OnlineMetals.com through September 2015