Today I want to share another BRILLIANT success story from one of our star students.
Peter Ballantine’s growth-by-acquisition story begins the way so many others do in the dealmaking space…
Once upon a time, Peter was an executive sales manager at one of Canada’s largest corporations when he got fed up with corporate life and chucked his mid-six-figure job.
He bounced around for a while until eventually starting his own online nutritional supplements company.
Peter’s original plan was to grow the company organically… that is, until he stumbled upon me and the Dealmaker (then Ninja Acquisitions) training programs in 2018.
Before buying anything, Peter did his due diligence (as any smart cat would), and recognized how growth through acquisition was a massive hack to turbocharging his business.
As Peter puts it:
I want to build this company to as big a company as I can get it to and get the most money that I can for it. I could do it organically, which I was doing, and we were mid-seven-figures. By bolting on this other company, we’re quickly to eight figures and we’re quickly moving to mid-eight-figures. I knew that was possible after talking to and learning about what [Dealmaker Wealth Society’s] done in the past and [their] approach to things, so that was really the big impetus for giving it a shot.
Using a combination of broker-generated leads and the direct approach, Peter originated about 50 opportunities and spoke seriously to around 10 sellers. He was adamant about acquiring a company that complemented his current business model.
Largely crediting the mentoring he received through Dealmaker Empire, Peter found what he described as a “diamond in the rough” company.
Turns out the owner of the business was in his mid-70s and more than ready to retire. The company hadn’t been doing well because there was a lack of new ideas and products… and staff morale was low.
But its brand recognition and products were solid.
On the day of closing, Peter’s $3.5 million dollar supplements business became $7.5 million — more than 2X what it was the day before.
The acquisition immediately expanded his distribution channels. According to Peter, “We were [selling] strictly online using affiliate and email marketing. We bought this company and bam, now we’ve got mail-order marketing expertise in-house.”
Not only that, but the bolt-on had a slightly older demographic that opened up a new customer base to him as well.
And the business has been smashing it ever since…
The change of ownership breathed new life into the place. Peter kept on all the staff and therefore didn’t need to worry about the day-to-day operations. Within 12-months, he grew the $7.5 million combined company to almost $12 million — a whopping 60% increase!
In fact, this deal worked out so well for Peter that he isn’t stopping there.
Why would he?
Peter’s goal is to grow the company as much as possible — through additional acquisitions — by 2025 so he can exit for a huge payday, compound his family’s wealth, and move on to new endeavors.
He credits Dealmaker Wealth Society with giving him the tools and education needed to accelerate a process that otherwise would have taken him much, MUCH longer to learn on his own piece by piece.
According to Peter, this experience “poured rocket fuel onto my results. It broadened my knowledge base. I’ve got a thirst for knowledge. I’m reading and watching more stuff online, just trying to learn more. It’s been a foundational learning experience from which I’ve been able to grow this second company and which I’ll use going forward in my career.”
So what advice does Peter have for aspiring dealmakers?
You need to consider this… I’ve grown a business organically. I’ve grown a business using a bolt-on acquisition strategy… From a bolt-on standpoint… I think the short version is it’s a one plus one equals three equation, right? As long as you’re buying the right company, you’re going to get results that multiply what you would have gotten otherwise.
Couldn’t have said it better myself: 1 + 1 = 3.
Meaning, the benefits of a bolt-on acquisition compound. And every time you do another, they compound again.
Dealmaker Wealth Society helps ensure you buy the right companies that make sense for you and your specific financial goals…
And we hold you accountable… to yourself.
Why take the long road when you can take a short cut?
If you currently own a business making at least $500K in annual gross revenue, I strongly encourage you to follow Peter’s lead and apply for our next 9-week Dealmaker Empire mentoring session.
We will have a consultation call and assess if the Dealmaker Empire coaching program is the right fit for you.
And if you become a Dealmaker Empire student, though I can’t guarantee your precise results…
But I CAN guarantee one thing…
I will push you to conquer your fears and approach deals with massive amounts of confidence.
All you have to do is COMMITT to doing the work…
Because my team and I will be in your corner supporting you every step of the way.
Ask any of our students, past and present.
I hope to see you in the next Dealmaker Empire class.
Until then, bye for now.