About The Guest(s): Trish Higgins is a partner at Chinmark Holdings, a family-run business that specializes in acquiring and managing small to medium-sized businesses. With a background in finance, Trish and her team have successfully acquired and grown multiple companies across various industries.
Summary: Trish Higgins, partner at Chinmark Holdings, shares her journey in the world of mergers and acquisitions (M&A) and holding companies. She discusses the importance of building a diverse portfolio of businesses with steady cash flows to provide long-term stability and resilience. Trish emphasizes the challenges of finding the right operators for acquired businesses, highlighting the need for values alignment, trust, and analytical capabilities. She also delves into the psychology of emotional sellers and the importance of approaching negotiations with empathy and understanding. Additionally, Trish emphasizes the significance of creating a positive company culture and the role of talent pipelines and training programs in ensuring a smooth transition and cultivating potential leaders for acquired businesses.
Building a diverse portfolio of businesses with steady cash flows can provide long-term stability and resilience.
Finding the right operators for acquired businesses requires time, patience, and a focus on shared values and analytical capabilities.
Emotional sellers may have difficulty letting go of their businesses, so it's important to approach negotiations with empathy and understanding.
Having a talent pipeline and training program can help ensure a smooth transition and provide a pool of potential leaders for acquired businesses.
"The more uncorrelated the cash flows of your portfolio, the more durable and valuable it becomes." - Trish Higgins
"When hiring operators, values alignment and trust are key, followed by analytical capabilities." - Trish Higgins
"Understanding the psychology of sellers and being patient can lead to better outcomes in deal negotiations." - Trish Higgins