Rob Goddard explains how six failed acquisition attempts led to a distressed business purchase, a rapid pricing reset, and a turnaround to break even in seven months.
Listen to the EpisodeEpisode 205 | Runtime: 31:39 | Audio Episode
Hear the full conversation on distressed acquisition strategy, buying out of insolvency, pricing discipline, seller motivation, and turning around a loss making company.
Episode
205
Runtime
31:39
Topic
Distressed business acquisition
Format
Founder interview and turnaround case study
Three practical lessons from a buyer who moved from failed acquisition attempts to a live distressed turnaround.
Six failed attempts through insolvency routes exposed the limits of distressed deal flow and the need to verify seller background, deal availability, and process control before committing time.
The acquired business had loss making customers, weak margin visibility, and underpriced work. Raising fees across the client base helped move the company to break even without redundancies.
Early communication, team workshops, pay alignment, and visible delivery on staff concerns helped stabilise morale after an insolvency purchase and gave the turnaround momentum.
This episode brings Rob Goddard back to discuss the buy side of M&A after years as a broker and adviser. Rob explains why he pursued distressed acquisition opportunities, how six attempted deals failed, and what buyers need to understand about insolvency practitioners, pre arranged sales, hidden risks, and the reality of buying assets rather than shares.
The conversation then moves into the business he did acquire, a professional services company hit hard by Covid and sold out of insolvency. Jonathan Jay and Rob break down the practical mechanics of what was bought, what was left behind, why the client base still had value, and how unprofitable customers had been allowed to drain the business despite years of trading history.
Rob also explains the turnaround playbook: identify client level profitability, increase prices, protect staff where possible, communicate early, and use the new margin position to fund better systems, marketing, and operational stability. The episode is a direct case study for buyers considering distressed businesses, but it also reinforces why first time acquirers should usually start with a profitable, stable company before attempting a turnaround.
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