From Plumber to Home Services M&A Master -- A Conversation with John Wilson

My guest today is John Wilson, the third-generation leader of The Wilson Companies - a privately-owned investment firm that invests in local family-owned businesses. Wilson acquires home services businesses in the Lower Middle Market, headquartered in the Midwest. With six current portfolio companies, they are continually seeking new opportunities between $500,000 and $2 million in owner's earnings. The Wilson Companies creates partnerships and takes an equity stake in Home Service, Digital, Multi-family & Commercial Real Estate businesses.

John talks with me about his early takeover of the family business at 23, some of the details around the company’s later acquisitions, the family dynamics of being a third-generation leader, not to mention the middle child of seven siblings who are not part of the business, and his preference for the acquisition, building, and entrepreneurial aspects of building his regional empire.  

This podcast is brought to you by Axial, (www.axial.net), a trusted online platform for business owners & their M&A advisors to use to safely and intelligently explore and execute capital raises, acquisitions, and exits with strategic buyers or professional financial sponsors. I am your host, Peter Lehrman, Founder and CEO of Axial. In every episode, we will explore the vast world of small business M&A. We will interview both the proven and emerging owners, operators, investors, and advisors whose strategies and methods have been put to the test. 

If you have enjoyed this episode, check out Axial.com for more.  There are recorded Axial member roundtables, downloadable tools for dealmakers, quarterly lead-table rankings, and lots of other useful information. To join Axial as an acquirer, an owner considering an exit, or as a sell-side M&A advisor, you can get started for free at Axial.com.  Feel free to reach out to me directly at [email protected] with questions, suggestions, or show topic ideas.

Discussion points:

• John’s early years and family plumbing business
• How did you come to buy the business from your dad?
• John’s night school gave him knowledge to apply the next day at work
• At 23 John took over the operations, hiring and firing
• The many complications of the purchase - tax laws, family and siblings
• Now the second-largest home services company in their region
• The changes in John’s role after the purchase
• First acquisition completed 14 months after purchase
• Identifying distressed businesses to purchase
• What are the ‘good vs bad’ businesses within the home services arena?
• HVAC and its many downsides, low margins and losing money on service contracts
• Keeping your customers with a wide variety of home services under one umbrella
• What does your company look like 3-5 years from now?
• John just wants to enjoy the entrepreneurial parts of the company, stay home with family

Resources:

John Wilson LinkedIn

The Wilson Companies Website

Peter Lehrman LinkedIn

Axial Website