Why Chenmark Bought a Boat Tour Business

Seasonal. Nonrecurring. Key person risk. Trish Higgins recounts how Chenmark got excited about an unlikely acquisition. 

Topics in Trish's interview:

• Building a holdco versus taking a job in private equity
• What Chenmark does, why it's special
• Chenmark's founders' goals: impact, interestingness, financial
• Why isn't the holdco model taught in business schools?
• The story of Cap'n Fish Cruises
• Unit economics of a boat tour business
• Is seasonality really so bad?
• Managing seasonality
• Are boat tour businesses attractive generally?
• Finding differentiation in a crowded industry
• Bait & tackle shop framework
• Chenmark's second boat tour acquisition
• How Chenmark approaches learning an industry where they've acquired a business

Reach Trish at:

• trish AT chenmark DOT com
• LinkedIn

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Links & mentions:

• Cap'n Fish's Cruises
• Subscribe to Chenmark's Weekly Thoughts
• Episode 55, featuring the other Chenmark co-founders: 7 Years Later: Leaving Wall Street to Buy Small Businesses
• Episode 64, featuring Trish: How & When to Make Changes at Your Acquisition