Agency Growth Via Government
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A story about how Brent Beshore grew his marketing agency through an acquisition.
"I started a collection of regional marketing companies in 2007, really getting going in 2008-2009. We grew to 26 employees at our peak. We were doing ad agency type work - media buying, digital work. Being in mid-Missouri, we didn't have access to specialty groups, so we built our own. We developed research, mobile and app development, and film work.
We were doing fine, making a good living, but the agency business is hard. We then bought a firm called Meticross - we were co-equals in the marketplace. They were focused on government contracts, which we didn't have, so that made the acquisition attractive. Combining the organizations gave us more cash flow than having them separate, through cross-selling different products and being able to fulfill more of the gross profit through the larger organization.
I bought it with an SBA loan - thank God for the SBA. It was just me, no co-founder or outside investors. I rolled the dice and it worked out."
Brent Beshore
Founder and CEO of Permanent Equity, specializing in acquiring and operating small businesses. Author of "The Joys of Compounding" and contributor to various business and finance publications.
Featured on business podcasts and in articles on private equity and business strategies.