Opportunistic M&A, and Building A Business With Family | James "Bud" Petcoff

The Wise Exit

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1+ y ago 41:42

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E31: On today’s episode of the Cashing Out podcast, co-hosts Todd Sullivan and Brian Dukes speak to James “Bud” Petcoff, a prolific entrepreneur and CEO.

Bud has more than 35 years of insurance industry experience, including founding North Pointe Insurance Co. in 1986, taking it public in 2005, and facilitating its sale to QBE Holdings Inc. in 2008.

Today, Bud is the chairman and CEO of Conifer Holdings Inc, and is responsible for establishing the overall direction and materializing the strategy of the company. We talk about leaning on experts when taking on new challenges, his learnings from a lifetime of entrepreneurship, and what it’s like building his newest enterprise with his two sons.

I hope you enjoy our conversation with Bud Petcoff.

Episode Highlights:
(3:58) College life, and starting his first insurance company
(7:46) Bud's first exit - selling North Pointe Insurance for the first time
(9:00) In hindsight, should Bud have used an Investment Banker?
(12:11) Problems at the acquiring company, and buying North Pointe back
(14:43) Getting North Pointe back on track for another run at success
(16:53) Taking North Pointe public, and why?
(19:14) The second exit of North Point Insurance Co.
(22:33) The big difference in selling a public vs private company
(25:04) After selling North Pointe Insurance a second time, what comes next?
(28:32) Final advice for entrepreneurs considering an exit
(30:21) Building the next enterprise with family
(38:25) The role that Bud's parents played in creating an incredible human and entrepreneur

Where To Find Todd Sullivan:

LinkedIn: https://www.linkedin.com/in/toddfsullivan/
Twitter: https://twitter.com/Todd_Sullivan

Where To Find Brian Dukes:

LinkedIn: https://www.linkedin.com/in/brdukes/
Twitter: https://twitter.com/bdukes32

Episode 31 Required Reading:

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#Trading #Entrepreneur #Business #Exitwise #Todd Sullivan #Business Owners #M #Mergers And Acquisitions #Business Valuation #Founder Stories #Selling Your Business #Exit Plan #Business Broker #Investment Banking #Venture Capital #Private Equity