Last week I closed on my self-funded acquisition!

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August 26, 2024

by a searcher from Pennsylvania State University in Orlando, FL, USA

Last week I closed on the acquisition of Extreme Graphics of Lake Hamilton, FL. Extreme Graphics is a sign manufacturing & large-format graphic printing company serving Central Florida and beyond, with several large accounts in hospitality.

Before searching full-time, I spent 4 years at Penn State University pursuing a PhD in Financial/Real Estate Economics and this is quite the career and life change from academia. Much of my academic research was on capital expenditures, renovations, and retrofits in commercial real estate, including signage. Signs and large-format prints are an important part of the marketing and visibility of commercial space and Extreme Graphics has a strong history of providing high-quality signs, designs, graphics, and prints.

A huge thank you to the people who made this all possible: Legal: Rob Fafinski, Jenny Anderson, and Alex Christian of Fafinski Mark & Johnson were incredible buy-side counsel and a joy to work with. Finance: ^redacted‌ was spectacular at arranging the financing and providing assistance in financial and lending due diligence.
I started my search in January of this year (2024), was under LOI at the end of April, and closed in August. This site was an incredible resource for me and I learned so much from the smart people here.

Searching is fun + hard and has already been extremely gratifying for me. I am only a couple of days into my ownership but have had great interactions with team members, vendors, and clients and have big plans for the growth.

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Reply by a searcher
from Duke University in Union, NJ, USA
Excellent, Spencer - I am not far from closing myself; I am sharing your joy with you. How much work did you do to get to know the employees and/or customers as you got closer to finalizing the acquisition? I ask because I've been working in the business ~5hrs a week and most understanding operations and spending time with strategic employees. However, I've scaled back with the thinking of just focusing on closing .. curious your thoughts ?
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Reply by a searcher
from University of Pennsylvania in Greenwich, CT, USA
Congratulations! Signage is a very interesting space, with a wide array of different business types. I spent some time earlier in the year speaking with Signworld, which is a network of signage companies that operates like a hybrid of a franchise system and a membership organization of independent signage businesses. If you're not familiar with it, you may want to take a look.
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