{"version":"1.0.0","segments":[{"startTime":0.03,"endTime":2.79,"body":"hello and welcome to well-capitalized"},{"startTime":1.589,"endTime":4.589,"body":"where we provide private equity"},{"startTime":2.79,"endTime":6.24,"body":"education and business owners share"},{"startTime":4.589,"endTime":7.589,"body":"their unique and candid experiences"},{"startTime":6.24,"endTime":9.599,"body":"after exiting their business"},{"startTime":7.589,"endTime":11.73,"body":"I'm your host Bobby Kingsbury managing"},{"startTime":9.599,"endTime":14.28,"body":"director at MCM Capital today we have"},{"startTime":11.73,"endTime":16.02,"body":"mark Calcutta CEO of torsion Group Corp"},{"startTime":14.28,"endTime":17.609,"body":"mark thanks for joining me today I"},{"startTime":16.02,"endTime":19.32,"body":"appreciate you being here thanks Bobby"},{"startTime":17.609,"endTime":21.24,"body":"thanks for having me no problem first"},{"startTime":19.32,"endTime":22.98,"body":"and foremost I would have appreciated if"},{"startTime":21.24,"endTime":25.05,"body":"you could provide a little bit of your"},{"startTime":22.98,"endTime":28.71,"body":"background and what your company what"},{"startTime":25.05,"endTime":32.7,"body":"tgc does well I'm obviously the CEO of"},{"startTime":28.71,"endTime":35.1,"body":"torsion Group and torsion group Corp is"},{"startTime":32.7,"endTime":37.649,"body":"a manufacturer and distributor of garage"},{"startTime":35.1,"endTime":40.469,"body":"door parts under the torsion group"},{"startTime":37.649,"endTime":43.17,"body":"umbrella we have two brands we have"},{"startTime":40.469,"endTime":45.51,"body":"action Industries which is the"},{"startTime":43.17,"endTime":47.94,"body":"aftermarket Channel business we have"},{"startTime":45.51,"endTime":52.52,"body":"about 4,000 customers selling primarily"},{"startTime":47.94,"endTime":55.17,"body":"to dealers to online stores and to"},{"startTime":52.52,"endTime":58.89,"body":"companies like Home Depot big big-box"},{"startTime":55.17,"endTime":61.14,"body":"outlets we also sell to the OEM channel"},{"startTime":58.89,"endTime":63.019,"body":"and that's through our brand called"},{"startTime":61.14,"endTime":67.32,"body":"torsion source we're really a"},{"startTime":63.019,"endTime":69.21,"body":"value-added solution based company that"},{"startTime":67.32,"endTime":72.479,"body":"provides different types of weather"},{"startTime":69.21,"endTime":75.27,"body":"seals in different applications for that"},{"startTime":72.479,"endTime":78.75,"body":"for that channel as well so three years"},{"startTime":75.27,"endTime":81.2,"body":"ago torsion group core did not exist and"},{"startTime":78.75,"endTime":84.659,"body":"there wasn't just Action industries and"},{"startTime":81.2,"endTime":86.49,"body":"torsion source it did not can you tell"},{"startTime":84.659,"endTime":88.35,"body":"the viewers or you know take us back in"},{"startTime":86.49,"endTime":90.81,"body":"time and explain what the businesses"},{"startTime":88.35,"endTime":93.9,"body":"were and what prompted a potential"},{"startTime":90.81,"endTime":96.15,"body":"transaction yeah prior to forming"},{"startTime":93.9,"endTime":98.22,"body":"torsion group we were four separate"},{"startTime":96.15,"endTime":101.07,"body":"businesses and within those businesses"},{"startTime":98.22,"endTime":103.259,"body":"there was different ownership in each of"},{"startTime":101.07,"endTime":106.649,"body":"the businesses it was pretty complicated"},{"startTime":103.259,"endTime":109.439,"body":"and each of the shareholders had"},{"startTime":106.649,"endTime":112.35,"body":"different ideas on what should happen"},{"startTime":109.439,"endTime":113.67,"body":"and the objectives and really from a"},{"startTime":112.35,"endTime":116.939,"body":"day-to-day perspective I was the only"},{"startTime":113.67,"endTime":118.259,"body":"one that was involved so really with a"},{"startTime":116.939,"endTime":120.149,"body":"combination of that and it really"},{"startTime":118.259,"endTime":123.18,"body":"started impacting the day to day"},{"startTime":120.149,"endTime":125.759,"body":"business we really needed to to come to"},{"startTime":123.18,"endTime":129.39,"body":"a point where we liquidated everybody"},{"startTime":125.759,"endTime":132.33,"body":"and and found a best way to solve that"},{"startTime":129.39,"endTime":132.86,"body":"for everybody so did you consider that"},{"startTime":132.33,"endTime":135.89,"body":"you and the other"},{"startTime":132.86,"endTime":137.36,"body":"shareholders consider other exit options"},{"startTime":135.89,"endTime":139.43,"body":"or was private equity really the only"},{"startTime":137.36,"endTime":141.35,"body":"route to go and then ultimately why did"},{"startTime":139.43,"endTime":144.08,"body":"you choose private equity yeah we did"},{"startTime":141.35,"endTime":146.45,"body":"look at whether it was bank financing"},{"startTime":144.08,"endTime":147.65,"body":"whether it was share held certain"},{"startTime":146.45,"endTime":149.78,"body":"shareholders buying out other"},{"startTime":147.65,"endTime":152.66,"body":"shareholders it really wasn't an option"},{"startTime":149.78,"endTime":154.82,"body":"and and really the the situation was"},{"startTime":152.66,"endTime":156.8,"body":"difficult and we needed a trusted third"},{"startTime":154.82,"endTime":159.709,"body":"party and that's really how we got to"},{"startTime":156.8,"endTime":161.84,"body":"private equity was finding somebody that"},{"startTime":159.709,"endTime":163.49,"body":"could put a true valuation on the"},{"startTime":161.84,"endTime":167.959,"body":"business and it was fair for everybody"},{"startTime":163.49,"endTime":170.36,"body":"so now it's two and a half years in okay"},{"startTime":167.959,"endTime":174.5,"body":"look looking back you know was it the"},{"startTime":170.36,"endTime":177.47,"body":"right choice for you in the shareholders"},{"startTime":174.5,"endTime":179.72,"body":"and other folks involved I think it was"},{"startTime":177.47,"endTime":182.12,"body":"definitely the right choice not that it"},{"startTime":179.72,"endTime":185.78,"body":"wasn't a difficult one but it really"},{"startTime":182.12,"endTime":187.25,"body":"made everybody whole it really protected"},{"startTime":185.78,"endTime":188.63,"body":"the business like I said there was a lot"},{"startTime":187.25,"endTime":192.83,"body":"of distractions and a lot of things"},{"startTime":188.63,"endTime":195.17,"body":"going on it really was the the only"},{"startTime":192.83,"endTime":197.33,"body":"option at that time to make it work and"},{"startTime":195.17,"endTime":200.9,"body":"and there was a lot that went into it"},{"startTime":197.33,"endTime":203.989,"body":"you know as in looking back I think"},{"startTime":200.9,"endTime":207.26,"body":"having more time to to really evaluate"},{"startTime":203.989,"endTime":209.57,"body":"the businesses and understand what the"},{"startTime":207.26,"endTime":211.97,"body":"Iveta was and going through that would"},{"startTime":209.57,"endTime":214.16,"body":"have been a better probably approach but"},{"startTime":211.97,"endTime":216.07,"body":"ultimately I think it was fair we did"},{"startTime":214.16,"endTime":218.87,"body":"bring in some outside help that that"},{"startTime":216.07,"endTime":220.25,"body":"worked us through the situation and I"},{"startTime":218.87,"endTime":223.7,"body":"think it was a good result for everybody"},{"startTime":220.25,"endTime":227.989,"body":"now being under private equity ownership"},{"startTime":223.7,"endTime":230.63,"body":"you know prior to MCM getting involved"},{"startTime":227.989,"endTime":233.36,"body":"you had autonomy to do whatever you want"},{"startTime":230.63,"endTime":238.07,"body":"and it's not like we hit you with a with"},{"startTime":233.36,"endTime":240.29,"body":"a ruler but what has been or what was I"},{"startTime":238.07,"endTime":244.16,"body":"guess prior to the acquisition what was"},{"startTime":240.29,"endTime":246.64,"body":"your biggest fear or concern I think it"},{"startTime":244.16,"endTime":249.53,"body":"was really from a reporting standpoint"},{"startTime":246.64,"endTime":253.19,"body":"and really a structure so how was that"},{"startTime":249.53,"endTime":256.4,"body":"going to work how much information did"},{"startTime":253.19,"endTime":258.59,"body":"the private equity company want you know"},{"startTime":256.4,"endTime":260.75,"body":"in full transparency what what what were"},{"startTime":258.59,"endTime":262.64,"body":"the right things to communicate there"},{"startTime":260.75,"endTime":265.099,"body":"was a lot that went into that and I mean"},{"startTime":262.64,"endTime":266.46,"body":"I think also how much involvement the"},{"startTime":265.099,"endTime":269.85,"body":"private equity company was"},{"startTime":266.46,"endTime":273.0,"body":"to have you know from from a business"},{"startTime":269.85,"endTime":273.81,"body":"that was privately held and in a shift"},{"startTime":273.0,"endTime":276.27,"body":"in focus"},{"startTime":273.81,"endTime":280.35,"body":"it was just trying to really understand"},{"startTime":276.27,"endTime":282.57,"body":"that and now two and a half years in"},{"startTime":280.35,"endTime":285.12,"body":"post acquisition what has been the"},{"startTime":282.57,"endTime":287.37,"body":"experience thus far"},{"startTime":285.12,"endTime":289.74,"body":"you know the did we alleviate your fears"},{"startTime":287.37,"endTime":293.729,"body":"or concerns it can work I think you know"},{"startTime":289.74,"endTime":295.86,"body":"right from the first town hall meeting"},{"startTime":293.729,"endTime":298.59,"body":"we had I remember when you participated"},{"startTime":295.86,"endTime":301.08,"body":"in that and we were all there and one of"},{"startTime":298.59,"endTime":302.729,"body":"the things you said was what's going to"},{"startTime":301.08,"endTime":305.4,"body":"be different about the business and it"},{"startTime":302.729,"endTime":307.53,"body":"was really nothing and two and a half"},{"startTime":305.4,"endTime":309.599,"body":"years later there really hasn't been any"},{"startTime":307.53,"endTime":311.22,"body":"change in the day-to-day and I think all"},{"startTime":309.599,"endTime":312.93,"body":"the employees see that and it's really"},{"startTime":311.22,"endTime":314.43,"body":"business as usual but I mean obviously"},{"startTime":312.93,"endTime":316.8,"body":"we're getting a lot of support from a"},{"startTime":314.43,"endTime":318.75,"body":"board perspective and a high level but"},{"startTime":316.8,"endTime":319.5,"body":"from a day-to-day nothing has really"},{"startTime":318.75,"endTime":322.53,"body":"changed"},{"startTime":319.5,"endTime":324.36,"body":"yeah so I appreciate that you know our"},{"startTime":322.53,"endTime":326.81,"body":"first rule of thumb generally is is do"},{"startTime":324.36,"endTime":329.699,"body":"no harm we really want to focus on"},{"startTime":326.81,"endTime":332.52,"body":"maintaining culture you know really"},{"startTime":329.699,"endTime":334.199,"body":"understanding what we just acquired and"},{"startTime":332.52,"endTime":337.05,"body":"the groups of people that we that we"},{"startTime":334.199,"endTime":338.729,"body":"partnered with some figures say now you"},{"startTime":337.05,"endTime":340.62,"body":"don't have to say that right this is oh"},{"startTime":338.729,"endTime":345.86,"body":"this is a candid interview I want on"},{"startTime":340.62,"endTime":347.88,"body":"this right so now going in did are your"},{"startTime":345.86,"endTime":350.58,"body":"challenges or fears and concerns"},{"startTime":347.88,"endTime":354.27,"body":"different two and a half years in then"},{"startTime":350.58,"endTime":355.979,"body":"what they were maybe prior to the yeah I"},{"startTime":354.27,"endTime":361.74,"body":"think after the acquisition it was"},{"startTime":355.979,"endTime":364.68,"body":"really expectation and and weigh it in"},{"startTime":361.74,"endTime":367.83,"body":"really it was just I was really the only"},{"startTime":364.68,"endTime":370.919,"body":"one involved and really controlling all"},{"startTime":367.83,"endTime":372.99,"body":"the the business decisions and you know"},{"startTime":370.919,"endTime":374.88,"body":"we talked about a lot in due diligence"},{"startTime":372.99,"endTime":377.669,"body":"and and talking about the business all"},{"startTime":374.88,"endTime":379.159,"body":"the opportunity so so when you get on on"},{"startTime":377.669,"endTime":382.789,"body":"the opposite side of the transaction"},{"startTime":379.159,"endTime":385.65,"body":"it's really how do you realize that and"},{"startTime":382.789,"endTime":387.75,"body":"what are the expectations from a growth"},{"startTime":385.65,"endTime":389.669,"body":"and a bit of perspective and how do we"},{"startTime":387.75,"endTime":391.86,"body":"work through that and it was just me it"},{"startTime":389.669,"endTime":395.19,"body":"was a little overwhelming you know can"},{"startTime":391.86,"endTime":397.62,"body":"we add people to to work through that"},{"startTime":395.19,"endTime":399.389,"body":"and help grow the business so I mean"},{"startTime":397.62,"endTime":399.93,"body":"those were you know those were some of"},{"startTime":399.389,"endTime":401.37,"body":"the challenge"},{"startTime":399.93,"endTime":403.32,"body":"is that I was working through after the"},{"startTime":401.37,"endTime":406.889,"body":"transaction and you know we talk"},{"startTime":403.32,"endTime":409.8,"body":"obviously on a weekly basis just casual"},{"startTime":406.889,"endTime":412.07,"body":"conversations and there's been several"},{"startTime":409.8,"endTime":415.11,"body":"times where I've I've asked you you know"},{"startTime":412.07,"endTime":418.979,"body":"what what's really changed what's been"},{"startTime":415.11,"endTime":421.35,"body":"the most dramatic change for you after"},{"startTime":418.979,"endTime":425.699,"body":"the acquisition and I I would say it was"},{"startTime":421.35,"endTime":428.28,"body":"really I didn't have other business type"},{"startTime":425.699,"endTime":430.229,"body":"people to talk to so whether it's the"},{"startTime":428.28,"endTime":433.32,"body":"board whether it's our conversations"},{"startTime":430.229,"endTime":436.47,"body":"having having another sounding board"},{"startTime":433.32,"endTime":438.87,"body":"where I can run run high-level stuff off"},{"startTime":436.47,"endTime":441.06,"body":"of as far as whether it's strategy or or"},{"startTime":438.87,"endTime":444.03,"body":"finance or whatever it is and obviously"},{"startTime":441.06,"endTime":446.82,"body":"we've added an executive team but having"},{"startTime":444.03,"endTime":448.74,"body":"that additional support was was much"},{"startTime":446.82,"endTime":450.69,"body":"different than than in the past where it"},{"startTime":448.74,"endTime":452.4,"body":"was just kind of running all around and"},{"startTime":450.69,"endTime":455.28,"body":"trying to grow the business and do the"},{"startTime":452.4,"endTime":457.59,"body":"right things in other conversations that"},{"startTime":455.28,"endTime":460.44,"body":"that I've had in this video series you"},{"startTime":457.59,"endTime":463.289,"body":"know especially with mark and Harry you"},{"startTime":460.44,"endTime":465.599,"body":"know from from MCM we've kind of talked"},{"startTime":463.289,"endTime":467.61,"body":"about the reporting aspect of it you"},{"startTime":465.599,"endTime":470.01,"body":"know most business owners entrepreneurs"},{"startTime":467.61,"endTime":471.599,"body":"well one really don't have to to answer"},{"startTime":470.01,"endTime":474.479,"body":"to somebody else generally they are the"},{"startTime":471.599,"endTime":477.15,"body":"the top level of the organization but"},{"startTime":474.479,"endTime":478.44,"body":"then also we're asking for some reports"},{"startTime":477.15,"endTime":482.22,"body":"you know monthly reporting quarterly"},{"startTime":478.44,"endTime":485.13,"body":"reporting explain to the business owners"},{"startTime":482.22,"endTime":488.07,"body":"you know really we'll what that has"},{"startTime":485.13,"endTime":490.74,"body":"entailed and has it is it more have you"},{"startTime":488.07,"endTime":492.93,"body":"felt it to be more homework or do you"},{"startTime":490.74,"endTime":496.65,"body":"think it's been potentially beneficial I"},{"startTime":492.93,"endTime":498.96,"body":"think it's been beneficial I mean one so"},{"startTime":496.65,"endTime":501.3,"body":"so just as far as reporting goes we"},{"startTime":498.96,"endTime":503.699,"body":"provide a monthly financial statement"},{"startTime":501.3,"endTime":506.159,"body":"with a write-up just a summary of what"},{"startTime":503.699,"endTime":507.99,"body":"happened in the month and then from a"},{"startTime":506.159,"endTime":510.659,"body":"quarterly perspective we have a"},{"startTime":507.99,"endTime":513.9,"body":"quarterly board meeting what I would say"},{"startTime":510.659,"endTime":516.39,"body":"is upfront in really getting a cadence"},{"startTime":513.9,"endTime":518.25,"body":"and developing I caught more of like a"},{"startTime":516.39,"endTime":521.64,"body":"lesson plan once we had a template put"},{"startTime":518.25,"endTime":523.469,"body":"together it really streamlined it and"},{"startTime":521.64,"endTime":526.709,"body":"it's it's it's not really difficult at"},{"startTime":523.469,"endTime":528.81,"body":"all and to me in working in the business"},{"startTime":526.709,"endTime":530.7,"body":"all the time it really allowed me to"},{"startTime":528.81,"endTime":532.8,"body":"step back and work on the business and"},{"startTime":530.7,"endTime":533.279,"body":"think about it strategically what we"},{"startTime":532.8,"endTime":535.319,"body":"wanted to"},{"startTime":533.279,"endTime":537.06,"body":"Kate and talk to at a board level or"},{"startTime":535.319,"endTime":541.29,"body":"individually you know when we talk"},{"startTime":537.06,"endTime":543.569,"body":"weekly so it was it really it once you"},{"startTime":541.29,"endTime":546.3,"body":"figure it all out it's it's not that"},{"startTime":543.569,"endTime":548.97,"body":"much work and it really helps helps you"},{"startTime":546.3,"endTime":551.189,"body":"think about the business after the the"},{"startTime":548.97,"endTime":552.99,"body":"transaction I know we we sat down and"},{"startTime":551.189,"endTime":556.35,"body":"discussed you know you put the other"},{"startTime":552.99,"endTime":560.309,"body":"plan you know one three five ten years"},{"startTime":556.35,"endTime":563.569,"body":"out and we talked about resources that"},{"startTime":560.309,"endTime":569.54,"body":"you would need to really achieve that"},{"startTime":563.569,"endTime":571.889,"body":"plan and in the first year and a half"},{"startTime":569.54,"endTime":574.279,"body":"the amount of work that you and your"},{"startTime":571.889,"endTime":578.249,"body":"team have put in has been Herculean and"},{"startTime":574.279,"endTime":582.24,"body":"Todd talked about the benefits of having"},{"startTime":578.249,"endTime":584.009,"body":"a partner who's with you that you can be"},{"startTime":582.24,"endTime":586.139,"body":"a sounding board that helped aid you in"},{"startTime":584.009,"endTime":589.35,"body":"you know really developing those"},{"startTime":586.139,"endTime":592.29,"body":"resources yeah I mean I think that was a"},{"startTime":589.35,"endTime":593.939,"body":"real critical part of once we created an"},{"startTime":592.29,"endTime":595.879,"body":"expectation and what we wanted to do"},{"startTime":593.939,"endTime":597.93,"body":"with the business and how to grow it"},{"startTime":595.879,"endTime":600.75,"body":"spending a lot of time talking about"},{"startTime":597.93,"endTime":602.699,"body":"what positions we needed whether that"},{"startTime":600.75,"endTime":604.86,"body":"was and you know we were using a public"},{"startTime":602.699,"endTime":607.41,"body":"accountant so getting a financial person"},{"startTime":604.86,"endTime":609.509,"body":"was critical from a supply chain"},{"startTime":607.41,"endTime":611.87,"body":"standpoint we had a really high-powered"},{"startTime":609.509,"endTime":614.37,"body":"operations guy restructuring that"},{"startTime":611.87,"endTime":619.019,"body":"talking about those type of business"},{"startTime":614.37,"endTime":620.309,"body":"needs it really was beneficial to go"},{"startTime":619.019,"endTime":623.61,"body":"through that because I mean like I said"},{"startTime":620.309,"endTime":626.55,"body":"before it was really okay we have all"},{"startTime":623.61,"endTime":627.66,"body":"this good stuff to work on how are we"},{"startTime":626.55,"endTime":629.279,"body":"going to achieve that how are we going"},{"startTime":627.66,"endTime":631.92,"body":"to execute that and it's really about"},{"startTime":629.279,"endTime":634.529,"body":"execution and and I really appreciated"},{"startTime":631.92,"endTime":635.91,"body":"from a from a board perspective and just"},{"startTime":634.529,"endTime":637.589,"body":"working with you and talking through"},{"startTime":635.91,"endTime":640.41,"body":"that with you on putting that together"},{"startTime":637.589,"endTime":644.129,"body":"it was very helpful I think one of the"},{"startTime":640.41,"endTime":649.559,"body":"biggest votes of confidence that a"},{"startTime":644.129,"endTime":653.459,"body":"private equity firm can receive for"},{"startTime":649.559,"endTime":655.679,"body":"their investment in in a business is the"},{"startTime":653.459,"endTime":658.199,"body":"business owner wanting to reinvest and"},{"startTime":655.679,"endTime":661.05,"body":"retain an equity piece in the business"},{"startTime":658.199,"endTime":663.809,"body":"it it certainly gives us confidence and"},{"startTime":661.05,"endTime":665.72,"body":"something that we want to see why why"},{"startTime":663.809,"endTime":667.85,"body":"did you want to retain"},{"startTime":665.72,"endTime":670.67,"body":"an equity stake in the business moving"},{"startTime":667.85,"endTime":672.589,"body":"forward well from my perspective I"},{"startTime":670.67,"endTime":676.85,"body":"believed in the business I believed in"},{"startTime":672.589,"endTime":677.899,"body":"all the businesses so moving forward if"},{"startTime":676.85,"endTime":680.149,"body":"you're not going to invest in yourself"},{"startTime":677.899,"endTime":682.22,"body":"in the business what would you invest in"},{"startTime":680.149,"endTime":685.04,"body":"so but you no longer have control though"},{"startTime":682.22,"endTime":687.56,"body":"so how you know but I mean so I'm going"},{"startTime":685.04,"endTime":689.449,"body":"to be partnered with with new business"},{"startTime":687.56,"endTime":692.449,"body":"people I wanted to have skin in the game"},{"startTime":689.449,"endTime":694.91,"body":"to be aligned with with them and and"},{"startTime":692.449,"endTime":698.06,"body":"achieve that prosperity at the next"},{"startTime":694.91,"endTime":700.459,"body":"level so I mean it was really it was"},{"startTime":698.06,"endTime":702.949,"body":"really that combination is belief in"},{"startTime":700.459,"endTime":704.72,"body":"myself belief in all the things that I"},{"startTime":702.949,"endTime":707.839,"body":"communicated in the upside in the"},{"startTime":704.72,"endTime":711.139,"body":"business so I felt passionate about that"},{"startTime":707.839,"endTime":714.05,"body":"and I it wasn't even a question I really"},{"startTime":711.139,"endTime":716.42,"body":"wanted to have a stake in the in the"},{"startTime":714.05,"endTime":718.879,"body":"business moving forward you had other"},{"startTime":716.42,"endTime":721.939,"body":"options you considered other options you"},{"startTime":718.879,"endTime":726.11,"body":"ultimately chose private equity and now"},{"startTime":721.939,"endTime":729.41,"body":"Monday morning quarterbacking what would"},{"startTime":726.11,"endTime":731.93,"body":"you say the advantages and disadvantages"},{"startTime":729.41,"endTime":734.949,"body":"are of partnering with a private equity"},{"startTime":731.93,"endTime":739.009,"body":"firm as opposed to just being a"},{"startTime":734.949,"endTime":742.339,"body":"privately held business the advantages"},{"startTime":739.009,"endTime":745.519,"body":"are definitely from a resource and"},{"startTime":742.339,"endTime":748.61,"body":"capital standpoint I mean and really the"},{"startTime":745.519,"endTime":752.0,"body":"board influence just having a sounding"},{"startTime":748.61,"endTime":754.309,"body":"board I mean and really having you know"},{"startTime":752.0,"endTime":755.75,"body":"from a quarterly standpoint and not just"},{"startTime":754.309,"endTime":758.12,"body":"a quarterly standpoint if there's any"},{"startTime":755.75,"endTime":761.509,"body":"issue or high-level issue being able to"},{"startTime":758.12,"endTime":763.839,"body":"run it by the board or or you"},{"startTime":761.509,"endTime":766.1,"body":"individually and to get that feedback"},{"startTime":763.839,"endTime":769.85,"body":"versus just making you know one of the"},{"startTime":766.1,"endTime":772.49,"body":"concerns was is not I think one of the"},{"startTime":769.85,"endTime":774.889,"body":"strengths we had was our ability to make"},{"startTime":772.49,"endTime":777.41,"body":"decisions and make him quickly versus"},{"startTime":774.889,"endTime":780.139,"body":"having a bunch of red tape and a it and"},{"startTime":777.41,"endTime":782.42,"body":"you know he have a 10 approval process"},{"startTime":780.139,"endTime":785.839,"body":"and you know that was one of the fears"},{"startTime":782.42,"endTime":787.85,"body":"coming in but but honestly from a board"},{"startTime":785.839,"endTime":790.67,"body":"and and I think we think about it more"},{"startTime":787.85,"endTime":792.74,"body":"and think about it strategically but"},{"startTime":790.67,"endTime":794.48,"body":"there's never been a time where it"},{"startTime":792.74,"endTime":796.339,"body":"impacted us from a decision standpoint"},{"startTime":794.48,"endTime":797.86,"body":"that didn't allow us to win a piece of"},{"startTime":796.339,"endTime":799.27,"body":"work or"},{"startTime":797.86,"endTime":801.25,"body":"make an investment in a piece of"},{"startTime":799.27,"endTime":803.59,"body":"equipment to make us more efficient so I"},{"startTime":801.25,"endTime":806.23,"body":"mean I think ultimately it was really"},{"startTime":803.59,"endTime":808.87,"body":"you know that support strategic support"},{"startTime":806.23,"endTime":810.94,"body":"and really the the infusion of capital"},{"startTime":808.87,"endTime":814.45,"body":"to really go out and do the things we"},{"startTime":810.94,"endTime":817.21,"body":"need to do if you could provide advice"},{"startTime":814.45,"endTime":819.22,"body":"to a business owner who's thinking about"},{"startTime":817.21,"endTime":822.94,"body":"exiting their business"},{"startTime":819.22,"endTime":824.23,"body":"considering exit options this probably"},{"startTime":822.94,"endTime":826.48,"body":"being likely the only time that they'll"},{"startTime":824.23,"endTime":828.61,"body":"ever do in their career what advice"},{"startTime":826.48,"endTime":831.55,"body":"would you give to them be committed to"},{"startTime":828.61,"endTime":834.48,"body":"the process and understand what you're"},{"startTime":831.55,"endTime":838.18,"body":"really looking to achieve from it and"},{"startTime":834.48,"endTime":840.7,"body":"for I would say understand your business"},{"startTime":838.18,"endTime":844.06,"body":"understand the financials understand"},{"startTime":840.7,"endTime":845.59,"body":"Avada which is something that a lot of"},{"startTime":844.06,"endTime":847.06,"body":"private business owners probably don't"},{"startTime":845.59,"endTime":848.5,"body":"even think about I mean they're worried"},{"startTime":847.06,"endTime":850.39,"body":"about growing the top-line not that you"},{"startTime":848.5,"endTime":853.48,"body":"don't want to make profit but how do you"},{"startTime":850.39,"endTime":856.39,"body":"maximize that how do you structure your"},{"startTime":853.48,"endTime":858.4,"body":"business it's just it how do you make"},{"startTime":856.39,"endTime":862.84,"body":"your business better so when you really"},{"startTime":858.4,"endTime":864.91,"body":"go to that point of selling you're"},{"startTime":862.84,"endTime":867.4,"body":"getting the maximum value for that and I"},{"startTime":864.91,"endTime":869.92,"body":"would say you know for us we did reach"},{"startTime":867.4,"endTime":872.38,"body":"out from a legal perspective and a"},{"startTime":869.92,"endTime":874.45,"body":"financial talk to people that have been"},{"startTime":872.38,"endTime":876.82,"body":"through the process before I mean I"},{"startTime":874.45,"endTime":878.86,"body":"think it's super important to to be able"},{"startTime":876.82,"endTime":880.03,"body":"to talk to people to understand that"},{"startTime":878.86,"endTime":881.71,"body":"understand where the market is"},{"startTime":880.03,"endTime":884.08,"body":"understand what valuation means"},{"startTime":881.71,"endTime":886.75,"body":"understand what multiples mean I mean a"},{"startTime":884.08,"endTime":888.43,"body":"lot of people don't don't understand"},{"startTime":886.75,"endTime":891.49,"body":"that and then the better you can arm"},{"startTime":888.43,"endTime":893.56,"body":"yourself and and and really believe in"},{"startTime":891.49,"endTime":895.6,"body":"that and understand how it works the"},{"startTime":893.56,"endTime":897.61,"body":"better off it'll be what would be the"},{"startTime":895.6,"endTime":899.83,"body":"the major difference between being"},{"startTime":897.61,"endTime":901.21,"body":"private equity owned and being a"},{"startTime":899.83,"endTime":902.95,"body":"family-owned business I'm sure there's"},{"startTime":901.21,"endTime":904.99,"body":"some things that are certainly different"},{"startTime":902.95,"endTime":908.71,"body":"today than it was two and a half years"},{"startTime":904.99,"endTime":911.08,"body":"ago yeah I mean I think there's a lot"},{"startTime":908.71,"endTime":914.38,"body":"more structure and accountability in"},{"startTime":911.08,"endTime":917.14,"body":"being private equity owned then you know"},{"startTime":914.38,"endTime":921.1,"body":"and there's we've had we've made a lot"},{"startTime":917.14,"endTime":922.9,"body":"of changes in our organization based on"},{"startTime":921.1,"endTime":926.35,"body":"that because there's certain people that"},{"startTime":922.9,"endTime":928.27,"body":"can can survive in a privately held"},{"startTime":926.35,"endTime":931.66,"body":"business but when it becomes about"},{"startTime":928.27,"endTime":934.15,"body":"meeting sales any bit of targets"},{"startTime":931.66,"endTime":936.16,"body":"it weeds out the poor performers I mean"},{"startTime":934.15,"endTime":938.14,"body":"in it and the business demands it"},{"startTime":936.16,"endTime":939.64,"body":"because I'm held accountable to it all"},{"startTime":938.14,"endTime":942.37,"body":"the managers are held accountable to it"},{"startTime":939.64,"endTime":945.31,"body":"right down to the to the employee so I"},{"startTime":942.37,"endTime":946.75,"body":"mean it's really beyond all that"},{"startTime":945.31,"endTime":948.67,"body":"infrastructure change that we've done"},{"startTime":946.75,"endTime":950.71,"body":"we've we've changed the workforce or how"},{"startTime":948.67,"endTime":951.94,"body":"quite a bit as well mark thank you very"},{"startTime":950.71,"endTime":953.35,"body":"much for your time today thanks for"},{"startTime":951.94,"endTime":955.9,"body":"joining us man and looking forward to"},{"startTime":953.35,"endTime":959.01,"body":"another four or five years of happiness"},{"startTime":955.9,"endTime":959.01,"body":"absolutely is great"},{"startTime":967.84,"endTime":969.9,"body":"you"}]}