How to Own 20% of Multiple SMBs - Acquiring Minds Recap

Podcast: Acquiring Minds

Published: 2026-02-12

Duration: 1 hr 55 min

Summary

Evan DeLeonardi shares his journey of acquiring a commercial cleaning business and how he now partners with other searchers to acquire equity in multiple small businesses. His model allows him to diversify investments while minimizing personal risk.

What Happened

In this episode, Evan DeLeonardi recounts his experience purchasing a commercial cleaning business in a small rural town, which was generating around $500,000 of Seller's Discretionary Earnings (SDE). The transition was challenging for Evan, who described it as a 'scary J-curve' rather than a straightforward turnaround. He spent a year and a half addressing the underlying issues within the business, such as weak leadership and complex family dynamics, all while managing the operation remotely as a nomad.

The conversation shifts to Evan's current role as an SBA buy-side advisor and investor, where he partners with other entrepreneurs seeking to acquire businesses. This model allows him to secure around 20% equity in multiple companies without personal guarantees. Evan explains the appeal of this strategy, highlighting that if he successfully partners on five acquisitions, he would effectively own the equivalent of 100% of a single small business, but with the benefits of diversification and passive involvement. This innovative approach is both intriguing and promising, as it allows for broader investment opportunities without the associated risks of a traditional single business ownership.

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