Today, we are excited to share the incredible story of Carlos R. Laconi, an Argentinian entrepreneur who ventured into the world of Search Funds and transformed a small business in the process. Carlos' journey took him from Salta, Argentina to Boston, where he breathed new life into a company and created a lasting impact on the community.

Carlos originally moved to the US to pursue his MBA at Babson College, where he discovered Entrepreneurship Through Acquisition (ETA) and Search Funds. This new knowledge changed the trajectory of his career, leading him to become involved in the Search Fund community and complete his concentration on ETA at Babson.

In 2020, Carlos was living in Charleston, South Carolina, planning to return to Argentina to manage his agriculture and export company focused on organic products. However, fate had other plans. He was approached by someone asking if he wanted to be the General Manager of a small company in Boston. While he initially declined the offer, the conversation piqued his interest.

The company in question was Boston Tree Preservation (BTP), a 46-year-old business founded by Peter Wild, a passionate entrepreneur and arborist. Peter had initially intended to hire Carlos as a General Manager to operate and grow the company. However, Carlos recognized the potential for a Search Fund model and proposed a deal to operate, grow, and eventually sell the business.

Carlos took charge of BTP and immediately began implementing a digital transformation to increase operational capacities. He focused on expanding the company's reach in North Boston, lifting the business 5-7X in sales from 7 years prior. Carlos worked tirelessly to improve the company's finances and streamline the numbers in preparation for a future sale.

During this time, Carlos’s Argentine company continued growing and became one of the largest chia seed farming business in the South America, due to the great team he put together before leaving for BTP, while he stayed on the board. He successfully balanced his responsibilities between both companies, which he attributes to his love for what he does and his ability to solve business problems efficiently.

In just two years, Carlos successfully sold BTP to a Boston Search Fund led by an army veteran with an MBA. The sale process was an incredible learning experience for Carlos, who managed to maintain close ties with the Search Fund community throughout the entire process.

Carlos' journey is a powerful testament to the importance of seizing opportunities, embracing change, and finding the right partners. His story shows that even an immigrant can participate in ETA and make a significant impact on a community.

As he moves on to his next endeavor - a search fund - Carlos leaves behind a legacy of dedication and innovation at BTP. He has also formed a lasting friendship with Peter Wild and his family, proving that business partnerships can transcend professional boundaries and develop into genuine connections.

We hope Carlos' story inspires you to explore new avenues in your own entrepreneurial journey and to always be open to change. Stay tuned for more stories from the world of small business that showcase the resilience and determination of entrepreneurs like Carlos.

Thanks to Everest Brady for his help, writing, and research in assembling this week’s newsletter.

This Week on Think Like an Owner

This week’s episode was recorded live in late April 2023 at SMBash in Austin, Texas, with Alex’s boss, Clayton Collins, CEO of HW Media. They opened up talking about how the role came together, but for a short preview, Alex took a Chief of Staff role with HW Media in March 2022 to help build a media and data company in the housing industry.

It's been an exciting journey with a steep learning curve that he is thoroughly enjoying. In the episode, they talk about acquiring within your industry, the acquisition journey at HW Media, the case for acquisitions as a compliment to organic growth, what a bad acquisition looks like, and so much more.

This event is fantastic for all those looking to pursue entrepreneurship through acquiring a company, and we hope to see you all at next year's event.

One of the most impactful things our CEO guests have talked about for their companies is upgrading their finance team. Ravix Group, led my CEO and former podcast guest Timi Okah, is the expert you need to build a scalable finance function. They handle everything from fractional CFO work, HR consulting, and outsourced accounting. Ravix can even help your company prepare for an IPO if that's an ambition of yours.

Timi himself came onto the podcast for today's Q&A, answering the question, "What customers get the most value from working with Ravix?" To get in touch with Timi and Ravix, go to their website and let them know that Think Like an Owner sent you.

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Think Like an Owner is sponsored by:

Ravix Group - Ravix Group is a fraction CFO, outsourced accounting, and HR consulting firm serving small and large businesses alike. Whether you or someone you know is getting started, searching to buy a business, or building out an organization, Ravix will help on the journey. To learn more about Ravix Group, head to their website and tell them Think Like An Owner sent you.

Hood & Strong, LLP – Hood & Strong is a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].

Oberle Risk Strategies– Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and Employee benefits programs. If you are under LOI, please reach out to learn more about how Oberle can help with insurance due diligence at oberle-risk.com. Or reach out to the CEO, August Felker, directly at [email protected].

Interested in sponsoring? Reply to this email and let’s chat.