Vince Nardo
👤 SpeakerAppearances Over Time
Podcast Appearances
But when you're fighting excessive debt payments, that extra $100 isn't available.
Nobody wants to go out and add another $100.
So that creates a very hard position to be in.
And that's ultimately, in a quick nutshell, what I experienced with the whole Renovo slash BlackRock.
And for your listeners out there to understand, BlackRock did not own Renovo.
BlackRock was the senior debt lender to Audax.
And essentially, BlackRock repossessed the business when Audax failed to want to put more funding in to support the debt.
Okay.
Right.
So there's a lot out there that says, well, BlackRock owned the business.
I sold to BlackRock.
No, I didn't sell to BlackRock.
I sold to Audax.
Audax borrowed the money from BlackRock.
Yeah, the senior debt holder.
That makes sense.
That's right.
You know, I'm in the midst of greenfielding myself.
And, you know, the first thing that I do is I go and call the guys that I know that have been uber successful with greenfields.
Right.