About the Guest(s):
Austin King is the co-founder of Steel River, a permanent holding company focused on acquiring and growing businesses within the industrial services sector, especially those supporting critical infrastructure such as the overhead crane space. With a background in bond hedge funds and management consulting, Austin transitioned into private equity before launching Steel River with his business partner, Eric Factor. Together, they aim to carry on the legacy of foundational American industries with a long-term growth strategy.

Summary:
In this insightful episode of the "How to Exit" podcast, host Ronald Skelton welcomes Austin King, the industrious co-founder of Steel River. The conversation is a deep dive into the world of industrial services acquisitions and the journey of building a company that focuses on preserving the backbone of America's infrastructure.

Austin shares the story of his transition from private equity to co-founding Steel River, emphasizing the company's mission to create a long-term home for businesses they acquire. The episode outlines Steel River's growth, which boasts an impressive portfolio of 11 acquisitions, predominantly in the overhead crane industry, expanding their footprint in manufacturing support services.

Key Takeaways:

Build a Strong Team: Prioritize hiring exceptional talent at all levels, and compensate them well to encourage long-term investment in the company's success.
Long-Term Thinking: Adopt a strategy that balances immediate decision-making with long-term growth to protect the company's future and legacy.
Maintain Legacy: Show consistent respect and due diligence when acquiring businesses, focusing on the legacy and community impact.
Employee Equity: Offering equity to branch managers and employees drives investment in the company's success and helps retain top talent.
Cultural Fit: After acquisition, ensuring cultural integration is critical to a smooth transition and sustained growth.

Watch it on Youtube: https://youtu.be/VbdAM2-wopY

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Contact Austin on
Linkedin: https://www.linkedin.com/in/austin-king12/
Website: https://www.steelriver.co/
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