<description>&lt;div class="OutlineElement Ltr SCXW103480807 BCX0"&gt; &lt;p class="Paragraph SCXW103480807 BCX0"&gt;&lt;span class= "TextRun SCXW103480807 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;Knowing what kind of &lt;/span&gt;&lt;span class= "NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW103480807 BCX0"&gt;seller&lt;/span&gt;&lt;span class="NormalTextRun SCXW103480807 BCX0"&gt; you are turns out to be one of the most important things you can figure out before you ever take a meeting with a potential acquirer. There are three: the transactional seller who wants the money and the door, the transitional seller who wants to land the plane, and the transformational seller who sells to go bigger.&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP SCXW103480807 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW103480807 BCX0"&gt; &lt;p class="Paragraph SCXW103480807 BCX0"&gt;&lt;span class= "TextRun SCXW103480807 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;Cameron Passmore built one of the largest independent wealth management firms in Canada, &lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;roughly 3,000&lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt; families and about $8 billion under management, and owned half of it. Most founders in that seat cash out and leave. Cameron sold to OneDigital at &lt;/span&gt;&lt;span class= "NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW103480807 BCX0"&gt;60, and&lt;/span&gt;&lt;span class="NormalTextRun SCXW103480807 BCX0"&gt; has no intention of going anywhere. He rolled 40% of the deal into equity, and now uses OneDigital's capital, deal &lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;expertise&lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;, and acquisition currency to buy other firms. He has &lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;acquired&lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt; five and &lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt;roughly doubled&lt;/span&gt;&lt;span class= "NormalTextRun SCXW103480807 BCX0"&gt; the business in under two years.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;</description>

Built to Sell Radio

John Warrillow

Ep 551 Cameron Passmore Sold Half an $8 Billion Firm—Then Acquired 5 More Businesses

JUN 19, 202647 MIN
Built to Sell Radio

Ep 551 Cameron Passmore Sold Half an $8 Billion Firm—Then Acquired 5 More Businesses

JUN 19, 202647 MIN

Description

Knowing what kind of seller you are turns out to be one of the most important things you can figure out before you ever take a meeting with a potential acquirer. There are three: the transactional seller who wants the money and the door, the transitional seller who wants to land the plane, and the transformational seller who sells to go bigger. Cameron Passmore built one of the largest independent wealth management firms in Canada, roughly 3,000 families and about $8 billion under management, and owned half of it. Most founders in that seat cash out and leave. Cameron sold to OneDigital at 60, and has no intention of going anywhere. He rolled 40% of the deal into equity, and now uses OneDigital's capital, deal expertise, and acquisition currency to buy other firms. He has acquired five and roughly doubled the business in under two years.