How One Key Hire Helped Dimple Up Their Value By 500% in 2.5 Years
April 6, 2018 |
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About this episode
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Teetering on the brink of liquidation, a key hire at Dimple led to a dramatic turnaround that resulted in a $13.4M exit.
Damien James started Dimple in 1997 to help people living in aged-care facilities by visiting them and offering podiatry (foot care) services.
He built the company to $200k EBITDA when he realized his company might need a different kind of executive in order to keep growing.
James hired a new CEO, and together they grew the company to $11M in revenue and $2.4M EBITDA in just over two years. That’s when Zenitas Healthcare acquired Dimple for $13.4M.
In this episode, you’ll learn:
- The signs that someone on your management team may be a “bad apple”
- Clues to spotting a rain-maker during the hiring process
- How strategic acquirers position themselves for purchase
- Options for structuring an employee stock ownership plan (ESOP)
- A clever tactic to avoid an earn out
- Pitfalls to avoid after the sale
James scaled his business by offering a unique service to old age homes, which made Dimple attractive to a strategic buyer who wanted to offer other services through the same channel. Module 2 of The Value Builder System™ helps you identify a unique service of your own with the most potential to scale up the fastest. Get started for free right now by completing Module 1.
About Our Guest
Damien lives in Melbourne – the official sporting capital of the world – and loves the ‘Mighty Tiges’ who finally won their first AFL Premiership in 37 years last September. 4 weeks earlier Damien sold his business for $13.4 million, which was valued at a $2.54 million just 2.5 years earlier. Damien is enormously grateful to have experienced this special sequence of events and describes it as the best 3 months of his life.
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