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October 28, 2015 |
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Mark Patey started Prodigy Engineering in 2010 to help companies leverage hybrid engine technology. Four short years later, Patey accepted a multi-million dollar offer to buy the company.
Prodigy Engineering is the latest in Patey’s pattern of starting businesses for the purposes of scaling them and then quickly flipping them. Patey has flipped six companies, and his approach could be considered the counterbalance to the prevailing view that businesses should be built to last a lifetime.
When you get to know Patey, his compacted timelines start to make sense. He – like so many successful entrepreneurs – suffers from ADHD, a blessing and at times a curse. Patey credits his ADHD with much of his success at selling businesses.
Born in Salem, Oregon, in 1972, Mark started life as a high-energy, curious child. In the fifth grade, Mark was diagnosed as having ADHD and put in a special education class with the mentally handicapped and school “trouble makers,” yet went on in life to build multiple successful companies, starting the first at the age of 15 and employing hundreds by the age of 21. Mark is currently an owner of BlueStep Technologies, Prodigy Engineering, Growth Climate Therapy Centers, Stym-Tech, and LockRight fasteners. Past achievements have included building several other successful businesses, both large and small. He was once the host of his own motorsports show on ESPN, and is consistently rated as one of the top presenters and trainers in the country.
The Other Reason Owners Decide to Sell
n 2012, Randy Ambrosie was hired to run 3Macs, a Montreal-based wealth management firm with $4 billion in assets under management at the time.
How to Sell When Everything Is Broken
In 2004, Cesar Quintero started Fit2Go, a meal delivery service in Miami. The business delivered healthy meals to office workers in South Florida, and by 2017, Fit2Go was earning 12% profit on $3 million in revenue. That’s when Quintero decided to sell half of his business based on a four times EBITDA valuation.
A Scar Deep Enough To Make You Want To Sell
Kevin Sullivan was riding high running one of Seattle’s largest printing companies when the 2008 recession hit.
What Happens When the Big Dog Sells
Anthony Amos and his brother started HydroDog, an Australian mobile dog washing and grooming service. After revolutionizing the industry and growing to more than $10 million in annual revenue, Amos decided it was time to sell.
The Founder of the “Female Viagra” Sells Her Business for $1 Billion
Cindy Whitehead started Sprout Pharmaceuticals and created the drug ADDYI, which has become known as the “female Viagra”.
Aaron Walker thought the money from selling his business would make him happy, but life after selling was a lot harder than he thought.
Bobby Martin had built First Research up to $6.5 million dollars in revenue when he sold the business to a Fortune 500 company for 26 million dollars.
Inside the Mind of An Acquirer – Nathan Winch
U.K.-based Nathan Winch started his career as a private equity investor after selling his first company, Winch Pharma, in 2017.
Since then, Winch has acquired over 20 businesses, with a focus on logistics and infrastructure companies.
Hacking Your Way to a $22 Million Exit
In 2015 Nick Santora founded Curricula, a cyber security awareness training program that helps companies defend themselves against hackers. Santora created fun, cartoon training videos in contrast to the dull content that existed at the time.
Companies happily embraced Santora’s approach. By 2021 he had grown Curricula to just over $2 million in annual recurring revenue when he accepted an acquisition offer from the cyber security giant Huntress for $22 million.
How a Vision Board Drove One Owner to Sell
birthday. As that milestone approached, Oshman started getting his business ready to sell.
Rod Drury founded Xero, a cloud-based accounting platform. Drury got the capital from selling another company, AfterMail, for $15M plus $20M in a potential earn-out—not bad for a company with a little more than $2M in revenue.
How Cigar City Brewing Got Oskar Blues To Triple Their Acquisition Offer
Joey Redner started Cigar City Brewing in Tampa Bay in 2009 with a vision of being the first quality craft beer in Tampa at a time when craft beer was gaining popularity across the country.
