How a First-Timer Did a Turnaround (Including an Exit)
Ben Rizzo bought an unprofitable, 4th-generation elevator business then stabilized, doubled, and sold it within 2 years.
Topics in Ben’s interview:
His wife-funded search in Pittsburgh
Sourcing deals through lawyers and accountants vs brokers
Acquiring an elevator repair business in distress
Quickly making changes after transition
Pouring his own money into the company to stay operational
Surviving the challenges of Covid
Doubling the business and selling to private equity
Calculating the risk of buying a turnaround
Buying a healthy business for his next venture
Competing with private equity…
The skinny
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