Tracy Alloway

You know, I asked you if the synergies were a euphemism for layoffs and you quickly shot that down.

You know, one of the things that Warren Buffett said from time to time is like, people who, like family owned businesses, some of these smaller businesses, they like selling to Warren Buffett.

They felt like, okay, this company that I've worked with and built,

for a long time, it's going to be in good hands.

Maybe it'll give Warren Buffett a slightly better price than the other guy who came knocking.

Do you feel like from your perspective, it's important that the would-be seller, they like you, that they feel that this thing that they work to build is going to be in good hands?

And is that part of your long-term strategy?

Yeah, I do.

I do.

When you're selling a company, it's kind of an emotional thing.

I mean, you're not going to sell a company for like 20% less just because you like the guy, but you don't necessarily go with the highest bidder every time.

Now, it depends who you are.

If you're private equity owned,

Yeah, you probably will go with the highest bidder because you're going away and you really don't care.

If you're a privately owned company by a family, you care very much about who you sell the company to because it's your legacy.

Then maybe there's relatives, there's local communities.

It's a big deal.

They want to make sure that you're going to be a good steward for something they've built up over 10, 20, sometimes 30 years.

So yeah, it does make a big difference.

Wait, I'm going to put you on the spot now.