Why did Richard Bundock choose acquisition over organic growth?

Richard had built a successful business, but organic growth was too slow for his ambition. Acquisition allowed him to add revenue, capability, and specialist expertise faster than building everything internally.

What is the difference between an asset purchase and a share purchase?

An asset purchase can be simpler because the buyer selects specific assets to acquire. A share purchase involves buying the legal entity, which means deeper due diligence, legal work, accounting checks, and potential exposure to liabilities.

How can a founder increase acquisition speed after the first deal?

Experience reduces uncertainty. Once a buyer has completed a first transaction, they understand what matters, what to negotiate, what to ignore, and how to keep a stronger pipeline of future seller conversations moving.

Dealmakers Podcast

Grow a Digital Agency Through Acquisition

Richard Bundock explains how acquisition changed the growth path for his digital marketing technology agency group, including asset deals, share purchases, due diligence, deal pipeline discipline, and ambitious roll up planning.

Listen to the Episode

Episode 164 | Runtime: 20:49 | Audio Episode

Listen to the Episode

Hear Richard Bundock explain how he moved from slow organic growth to acquisition led expansion in the digital marketing technology sector.

Episode

164

Runtime

20:49

Topic

Acquisition led agency growth

Format

Founder interview

Key Takeaways

Three direct lessons from a founder using acquisitions to scale beyond the limits of organic growth.

Acquisition Can Break Organic Growth Limits

Richard Bundock started with a strong operating business, but acquisition gave him a faster route to capability, revenue, and strategic scale than organic growth alone.

Deal Type Changes the Process

Asset purchases can be faster and simpler, while share purchases require deeper legal work, accounting input, due diligence, and completion account discipline.

Pipeline Determines Acquisition Pace

Ambitious roll up plans need consistent seller outreach, regular follow up, sector focus, and the confidence to move faster once the acquisition model starts working.

Episode Breakdown

In this episode, Jonathan Jay speaks with Richard Bundock, founder of Cohesus and a dealmaking client who moved from slow organic growth to acquisition led expansion. Richard explains how frustration with the pace of organic growth pushed him to consider buying businesses as a way to build a stronger digital marketing technology agency group.

The conversation gets practical quickly. Richard discusses completing multiple acquisitions, including a fast asset purchase and more detailed share purchases. He explains the difference between buying assets and buying the legal entity, why due diligence matters, how lawyers and accountants can influence deal speed, and why sellers staying in the business can create stronger alignment after completion.

Richard also shares the bigger acquisition strategy behind his agency group. His goal is to become one of the top independent agency groups by building specialist capability through multiple acquisitions. The episode is a useful case study for founders who already own a business but want to use acquisitions, not just sales and marketing, to build enterprise value and create a more valuable exit.

Best For

Agency owners frustrated by slow organic growth.
Entrepreneurs considering bolt on acquisitions in a specialist sector.
Buyers comparing asset purchases with share purchases.
Dealmakers building a repeatable acquisition pipeline.
Founders planning scale, exit value, and future valuation multiples.

Questions Answered In This Episode

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Step-by-step acquisition roadmap
Financing templates and lender contacts
Due diligence checklists
Deal closing procedures