Up in Smoke

selling a vaping manufacturer

Up in Smoke

“Lorenzo de Plano co-founded Solace Technologies in 2015 and in a few years sold for $15M,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “This episode is packed with tips including how to evaluate a fair buy-out price for your partner, increase revenue during due diligence and emotionally cope with getting re-traded.”

In 2015, Lorenzo de Plano co-founded Solace Technologies, one of the first vape manufacturers in the United States. The goal of the business was to create a discreet vape pen that customers could use as an alternative to smoking cigarettes.

The business boomed to revenue of more than one million dollars a month, but a looming threat had de Plano eyeing an exit. So, when a $15 million offer came in, he bit. In this episode, you’ll learn how to:

  • Bootstrap to a seven-figure business without raising outside capital.
  • Evaluate a fair buy-out price for your partner.
  • Identify the raw material for a recurring revenue stream inside your business.
  • Innovate in a new and volatile marketplace.
  • Increase revenue during the due-diligence process.
  • Emotionally cope with getting re-traded.

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