Closing Remarks Podcast: Doug Kintzinger on Strategic Acquisitions

What makes a business an attractive acquisition opportunity? Is it financial performance, growth potential, or something buyers see beyond the numbers?

Doug Kintzinger has been involved in more than 200 business deals, and he knows successful acquisitions are about much more than the purchase price.

In this episode of Closing Remarks, host Dara Shareef sits down with Doug Kintzinger, former CEO of IMS Capital Management, to talk about how strategic acquisitions, strong teams, and win-win deals can help business owners better understand their growth opportunities or a potential sale.

Key Highlights

• Grow your business through acquisitions: Learn how to identify opportunities that expand your market, products, and revenue.
• Understand what buyers value: Discover what makes a business attractive beyond its financial performance.
• Make smarter M&A decisions: Learn how to evaluate opportunities, structure deals, and find the right fit.
• Build stronger business relationships: See how trust and patience can lead to better deals.
• Become a more effective leader: Learn how to build teams around people's strengths and help them succeed.
• Create a more resilient business: Discover how to give your team more responsibility and reduce dependence on you.
• Adapt when business conditions change: Learn how to respond to challenges and find new growth opportunities.

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What Makes an Acquisition Successful?

Doug has been involved in around 175-180 acquisitions during the 22 years he has spent with JELD-WEN, helping grow the window and door manufacturing business from around $95 million to more than $4 billion in revenue.

Each acquisition had to make sense.

They had to make sense financially and strategically. Doug and his team would look at each acquisition to determine how it would fit into the wider business, for example, bringing a new market, manufacturing capability, products, and future growth.

This helped JELD-WEN grow and become a stronger, more competitive business.

When considering an acquisition, there may be opportunities to grow beyond revenue and profit. By understanding how your business fits into the buyer's wider strategy, you can start to see what makes your business attractive.

How Can Strategic Acquisitions Help Businesses Grow?

Acquisitions can be a great way to grow your business.

Doug recollected that in the past there were over 150 door manufacturers in the US, with more manufacturing capability than was required.

Over the next decade, acquisitions by both JELD-WEN and competitors (Masonite) helped reduce the number to around 8-10 large manufacturers.

This meant JELD-WEN could invest in improving its manufacturing capabilities, becoming more efficient and providing cost savings.

They were growing their business and becoming more efficient.

When considering acquisitions, think about how they can help grow your business. Can they improve your operations? Can they make you more efficient? Can they provide capabilities that would be hard to achieve otherwise?

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Why Are Non-Financial Factors Important?

While finances will always play a role, Doug has learned over his career that many acquisitions brought capabilities the business didn’t previously have.

There could be improved processes or more efficient ways of working. Or perhaps the company had talented staff who could take on important roles as the larger business grew.

Doug understood that the acquisition may not always have had the best way of doing things and that there may be something to learn from the company they were acquiring.

This is important to remember.

Just because your business may not have a great set of numbers on your balance sheet, your team may have lots of knowledge, strong customer relationships, and solid processes in place that can support future growth. All of these can make your business more appealing to the right buyer.

Why Are Relationships and Win-Win Deals Important?

Finding a good acquisition opportunity is one thing, but ensuring both sides can see value in the deal is another.

Doug emphasizes the importance of building relationships with buyers and taking the time to understand what they want to achieve.

Throughout his career, he has been flexible with deals and has ensured they are structured to work for both parties.

He found that starting the relationship on a positive note helped ensure the acquired company could keep progressing.

As a business owner, this reminds you that the sale price may not be the only thing to consider.

What does the buyer want to do with the business? How is the deal being structured? 

By building up trust and having open conversations, you can both understand what a successful outcome looks like.

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What Can Business Owners Learn from Doug’s Leadership Style?

His experience as a basketball coach influenced Doug’s leadership style.

As a coach, he learned that people all have different skills, motivation, and capabilities. To get the best out of your team, you need to recognize this.

He applied this philosophy to his business.

Rather than putting employees in roles they struggled with, Doug put them in positions where they could use their skills and succeed.

This can help grow your business and support acquisitions.

Having a strong leadership team can help you take on new opportunities and manage change. 

If you are considering selling the business in the future, having employees who can make decisions and lead without constant supervision can reduce your reliance on them.

How Can Businesses Be Flexible?

Even the most experienced business leaders will come across situations where they need to be flexible.

Doug explains that during the pandemic at Pacific Seafood, he had to adapt because of changes in the business and supply chain.

Every market, business, and seller presents different challenges. As a business owner, flexibility can help you recognize opportunities,  respond more quickly, make informed decisions, and keep the business growing.

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Where to Watch

Having completed over 200 business transactions, Doug Kintzinger has learned that a successful acquisition isn’t just about finding the right company at the right price.

It is about recognizing the potential, understanding how the businesses fit together, building strong relationships, and creating opportunities that work for both parties.

These are all valuable lessons for business owners to understand, whether you are looking to complete an acquisition or sell your business.

By investing in your team and improving your processes, you can make more informed decisions and create more options for the future.

Doug closes with a philosophy he has used throughout his career.

“If you can do everything you do with joy and excellence, good things usually happen,” Doug Kintzinger said.

This philosophy connects his experiences in leadership, acquisitions, and business growth. Watch host Dara Shareef talk with Doug Kintzinger about strategic acquisitions, building strong teams, and creating a business that gives you options when it’s time to decide what comes next.

Watch or listen to the full episode of Closing Remarks on Spotify, Amazon Music, Apple Podcasts, and YouTube.

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