A Personal Chronicle
The Acquisition
Journey
Documenting every step of my path to business ownership. From deal sourcing to due diligence, negotiations to closing - the unfiltered story of acquiring a company.
About This Journey
Building wealth through
acquisition
Always knew I'd own something. This blog is the record of actually doing it - the search for the right business, the deals that didn't work out, and everything I'm learning along the way.
No guru playbook. Just honest, in-the-moment writing from someone figuring out what it actually takes to find, acquire, and build a business.
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Months Searching
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Deals Reviewed
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No. Acquisitions
From the Blog
Latest Updates
Specialised Laboratory and Calibration Services: A High-Conviction Roll-Up Opportunity in Australia
Specialised laboratory and calibration services in Australia offer a strong roll-up opportunity driven by mandatory compliance, recurring revenue, and market fragmentation. Demand is stable and non-cyclical, with high barriers to entry through accreditation. While small labs carry key-person risk, consolidation mitigates this and unlocks efficiencies, cross-selling, and scale advantages. Entry valuations are attractive, and scaled platforms command premium exit multiples from global acquirers.
Investment Thesis: Australian Industrial Asset Integrity & NDT Roll-Up
Australia’s NDT and asset integrity sector offers a strong roll-up opportunity driven by legally mandated, recurring maintenance work and a fragmented base of small operators. Entry at a $200k–$300k level is feasible through niche inspection “wedge” businesses, with scale created via acquisitions, shared talent, and expanded service capabilities—leading to significant valuation upside at exit.
Wedges vs Verticals: The Difference That Decides Whether Your Roll-Up Works
Wedges are focused entry points into a market; verticals are fully integrated service ecosystems. Smart roll-ups start narrow, expand across the value chain, and evolve into dominant, multi-service platforms.
Water Hygiene Compliance: A Roll-Up Thesis for the Australian Legionella Services Vertical
The Australian Legionella and building water hygiene compliance sector has been sitting in the background of the vertical screening process for several weeks. What follows is the full thesis — working through demand structure, target density, labour risk, revenue quality, synergy logic, deal mechanics, and exit path in sequence.
Backflow Prevention Testing & Compliance: A Roll-Up Vertical Analysis
There's a category of business that almost nobody talks about, operates under legal mandate, recurs on a fixed annual calendar, and is almost entirely owned by sole traders or small teams with no succession plan. Backflow prevention testing is one of them. This is a vertical analysis of whether backflow prevention testing and compliance is a viable roll-up target in Australia — assessed against the core acquisition criteria: recurring revenue, fragmentation, deal availability, integration synergy, and exit realism.
The Consolidation Thesis for Australian Electrical Test & Tag
There is a structural arbitrage opportunity in Australian Test & Tag: fragmented operators at 2× SDE, scalable non-electrician labour, and legislated recurring demand. Geographic clustering unlocks route efficiency. Exit to strategic buyers at 6–8× EBITDA is well-supported.
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