Getting A Second Bite Of The Apple

Private equity sale, what it means to get a second bite of the apple

Getting A Second Bite Of The Apple

Richard Manders co-founded iAutomation and built it up to $12M before deciding it was time to recapitalize. Manders sold 75% of his company for almost 8 times EBITDA to a Private Equity (PE) and held 25% interest in the company after the sale. Manders continued working for the PE firm for seven more years. Last year, the PE firm sold iAutomation, and Manders got out completely. 

In this episode, you’ll learn:

  • How to structure a private equity sale
  • What it means to get a “second bite of the apple”
  • How to solve a problem once and get paid many times for the solution
  • The keys to making a partnership last over 20 years
  • The joys and challenges of growing a business with someone else’s money

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