Scaled a Business to $30M After a Brutal First Deal | Joe Van Deman

Inside the ER Rollup Serving 1.5 Million Patients with Kevin Baker

In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Feras Moussa sit down with Kevin Baker of Emergency Care Partners (ECP) to unpack the business side of emergency medicine and the acquisition strategy behind one of the country’s fastest-growing emergency care platforms. Kevin shares how ECP scaled from a Louisiana-based merger into a 10-state organization serving more than 1.5 million patients annually, while breaking down how hospital emergency departments are actually operated behind the scenes.    The conversation dives into physician practice acquisitions, healthcare EBITDA valuations, recurring revenue, liquidity events, and how buyers structure recapitalization deals that keep doctors invested in future growth. Kevin also shares practical insights into sourcing acquisition opportunities, building relationships with industry advisors, and why consistent outreach is critical for long-term pipeline development.  In this podcast episode, we discuss:  * The surprising business structure behind hospital emergency departments and outsourced physician staffing  * Why succession planning and liquidity are major drivers for physician practice acquisitions  * Common EBITDA adjustments in healthcare acquisitions and how buyers evaluate recurring earnings  * Why recurring revenue and operational stickiness command higher EBITDA multiples  * What buyers look for during Quality of Earnings and confirmatory diligence  Guest Contact Info:  * Website: https://www.ecp.net  * LinkedIn: https://www.linkedin.com/in/kmb23/  Additional Resources:  * Contact Casey Minshew and Feras Moussa at info@equitylaunchpad.com  * Explore more: https://www.equity-launchpad.com  About The M&A Launchpad: The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions. The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community. Connect with M&A Launchpad: 🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586 🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/ [http://malaunchpad.com/]

Why 20% of Small Business Owners Close Instead of Sell | Mike Ehrle

In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Ben Suttles sit down with Mike Ehrle, founder of FinParency, to discuss one of the most overlooked problems in the lower-middle market: business owners who simply lock the door and walk away rather than securing a proper exit. Mike draws on his experience watching UnitedHealth Group complete 65 acquisitions and leading companies through multiple private equity and family office transactions to explain how FinParency is building a platform to get small business owners exit-ready, match them with the right buyers from a pool of 4,500+ private equity groups and 4,000+ family offices, and bridge the knowledge gap that causes so many deals to fall apart.    In this podcast episode, we discuss:  * Why roughly 20% of small business owners in their 60s plan to shut down rather than sell -- and what's driving that trend  * How FinParency's platform diagnoses a business, scores its exit-readiness, and flags red flags before buyers ever see them  * What business owners need to understand about add-backs, working capital, and cleaning up financials before going to market  * How cutting costs (especially benefits and insurance) directly increases your exit multiple  * Inside look at how strategic buyers like UnitedHealth Group approach acquisitions differently than private equity  * How FinParency matches sellers with the right buyers -- PE groups, family offices, and individual investors -- and when to bring in a banker    Guest Contact Info:  * LinkedIn: https://www.linkedin.com/in/mikeehrle/ [https://www.linkedin.com/in/mikeehrle/]  * Email: mikeehrle@finparency.ai [mikeehrle@finparency.ai]  * Website: finparency.ai [https://www.finparency.ai/] or finparency.com [https://www.finparency.com/]    Additional Resources:  * Thinking about buying or selling a business? Connect with the Equity Launchpad team to learn more about acquisition entrepreneurship and upcoming opportunities.  * Contact Casey Minshew and Ben Suttles: info@equity-launchpad.com [info@equity-launchpad.com]  * Explore more: https://www.equity-launchpad.com [https://www.equity-launchpad.com/]    About The M&A Launchpad: The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions. The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community. Connect with M&A Launchpad: 🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586 🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/ [http://malaunchpad.com/]

How PE-Backed Companies Scale Fintech Revenue with Robert Checchia

**Please note: There are periodic audio distortions.  Thank you for bearing with the tech glitches.  In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Feras Moussa sit down with Robert Checchia, CFO of Benzinga, to discuss what happens after private equity acquires a fast-growing media company and how leadership teams reposition businesses for long-term enterprise value. Robert shares how Benzinga evolved from a financial media platform into a fintech and data licensing company, why recurring revenue and sticky data products matter, and the operational playbook he uses when stepping into PE-backed businesses.  In This Episode We Discuss:  * How Benzinga transitioned from financial media into a fintech and data licensing company  * Robert’s 30-60-90-180 day CFO framework after joining a PE-backed acquisition  * Why cash flow management and centralized data are critical after acquiring a business  * The biggest mistakes entrepreneurs make when scaling and productizing companies  Guest Contact Info:  LinkedIn: linkedin.com/in/robert-g-checchia-cfa  Email: robert@benzinger.com [robert@benzinger.com] or checchia.robert@gmail.com [checchia.robert@gmail.com]   Benzinga: https://www.benzinga.com  Additional Resources:  Equity Launchpad helps acquisition entrepreneurs, investors, and operators learn how to buy, scale, and grow businesses through strategic acquisitions. Explore educational resources, podcast episodes, and investment insights at https://www.equity-launchpad.com [https://www.equity-launchpad.com/] or contact Casey Minshew and Feras Moussa at info@equity-launchpad.com [info@equity-launchpad.com]    About The M&A Launchpad: The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions. The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community. Connect with M&A Launchpad: 🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586 🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/ [http://malaunchpad.com/]

Legal Mistakes that Kill Acquisitions with Fareed Kaisani

In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Feras Moussa sit down with Fareed Kaisani of MW Law to discuss the legal side of buying businesses and the costly mistakes that can derail acquisitions. Fareed shares insights from working on lower middle market deals ranging from SBA-funded acquisitions to private equity rollups, including why buyers should engage counsel early, how working capital disputes kill deals, and why trying to save money on legal or QoE support can backfire.    In this podcast episode, we discuss:    • Why buyers should engage experienced M&A counsel before signing an LOI    • How working capital, holdbacks, escrows, and seller notes impact transactions    • The legal and financial mistakes that commonly blow up deals before closing    • Why AI-generated LOIs and “cheap” legal advice can create major problems for buyers    Guest Contact Info:    • LinkedIn: https://www.linkedin.com/in/fareed-kaisani/    • Email: Fareed@MWFirm.com    Additional Resources:    • Thinking about buying a business? Connect with the Equity Launchpad team to learn more about acquisition entrepreneurship and upcoming opportunities.    • Contact Casey Minshew and Feras Moussa: info@equity-launchpad.com    • Explore more: https://www.equity-launchpad.com    About The M&A Launchpad: The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions. The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community. Connect with M&A Launchpad: 🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586 🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/ [http://malaunchpad.com/]

Scaled a Business to $30M After a Brutal First Deal | Joe Van Deman

He went from working at Google to driving trucks at 3AM after a brutal first acquisition—then turned those hard lessons into a business that scaled to nearly $30M.    Join us at the M&A Launchpad Conference on May 2, 2026 in Houston. Use code LAUNCH for $150 off. Get details: https://malaunchpad.com [https://malaunchpad.com/]  Serious about buying a business? Start your acquisition journey here: https://equity-launchpad.com/invest-with-us/ [https://equity-launchpad.com/invest-with-us/]    In this episode of the M&A Launchpad Podcast, Casey Minshew and Ben Suttles sit down with Joe Van Deman of Circle City Capital Group to break down what it actually looks like to buy and operate small businesses.  After reviewing more than 1,200 deals, Joe and his partner acquired an overnight trucking business that looked great on paper but quickly became a grind of middle-of-the-night routes, missed drivers, and operational chaos. Instead of walking away, they stabilized it, grew it, and exited using that experience to reshape their entire strategy.  From there, they built a diversified portfolio across e-commerce, bookkeeping, and manufacturing, including scaling an American-made denim platform to nearly $30M in revenue. Their approach is simple: buy stable businesses, improve operations, and focus on long-term value, not hype.  In this episode, we discuss:  * Reviewed over 1,200 businessesand still got the first deal wrong • Bought a “great on paper” business that had them driving trucks at 3 AM  • Doubled the business in year one and exited to a strategic buyer  • Scaled a niche denim manufacturing business from under $2M to ~$30M  • Built a portfolio by buying overlooked businesses most people ignore  Guest Contact Info:  Joe Van Deman  Email: joe@circlecitycapitalgroup.com [joe@circlecitycapitalgroup.com]  Website: https://circlecitycapitalgroup.com [https://circlecitycapitalgroup.com/]  LinkedIn: https://www.linkedin.com/in/joevandeman/ [https://www.linkedin.com/in/joevandeman/]    Additional Resources:  Contact Casey Minshew, Ben Suttles and Feras Moussa at info@equitylaunchpad.com [info@equitylaunchpad.com]  https://www.equity-launchpad.com [https://www.equity-launchpad.com/]  About The M&A Launchpad: The M&A Launchpad provides insights into acquiring, investing in, and selling profitable businesses in the lower to middle market. Whether you are a business owner, investor, or aspiring entrepreneur, we will provide you with the knowledge, guidance, and capital to navigate the world of mergers and acquisitions. The M&A Launchpad presents a series of weekly podcast episodes and hosts an annual M&A Launchpad Conference tailored to the M&A community. Connect with M&A Launchpad: 🎧 Podcast on Spotify: https://open.spotify.com/show/0mW6i4ooujqC7eOPWmguU7 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/m-a-launchpad/id1740382586 🎟️ Attend Upcoming M&A Launchpad Conference: http://malaunchpad.com/ [http://malaunchpad.com/]