Vince Nardo

I've had a lot, a lot of discussions.

There's a lot of talent coming out of that.

And from what I understand, they were still making healthy EBITDA.

I think it was one of the cases that they just put way too much debt on the business.

And it's very, very hard.

Private equity, if you kill it, you do very well and they take out a ton of debt.

It's so much better investment.

But it's really hard to grow.

It's very hard to grow when you're having to make all these payments on the debt.

When you want to buy companies and you want to greenfield and you want to get the best executives into the business.

And maybe you could talk a little bit about the mistakes that go on.

And it doesn't just need to be with that company, but just where do we go wrong?

Yeah.

So...

And I think for a lot of the younger businesses out there, they don't really understand the private equity involvement and what that means for their business.

I learned a lot.

I got a crash course in private equity.

I never even heard the word BIPs until I actually sold to private equity and had to learn all the terminology and the way that they operate.

The model that was used to acquire Reborn as well as the other six businesses was a leveraged buyout model where they take a lot of debt, they put it on the balance sheet, and their intent is that they can overcome the servicing the debt, continue to grow the business, and then flip it and be able to make a margin on it.

It's not a buy and build.