The 7 Year Collapse of an SBA Acquisition | Scott Duncan Interview

Scott Duncan, a self-funded searcher, recounts his harrowing experience of acquiring F&M Tool and Die, a tool and die business, which ultimately went to zero. Duncan details his initial enthusiasm, driven by his engineering background and the business's seemingly attractive economics, including $1.2 million EBITDA on $4.2 million in sales. However, he soon faced challenges like employee departures, customer concentration issues, and a culture clash. Duncan expanded into injection molding to combat industry shifts, but rising steel prices and customer hesitancy led to financial strain. Despite efforts to restructure and secure relief, the business declined, resulting in a personal and business Chapter 7 bankruptcy. Duncan reflects on the grief and loss of purpose but remains enthusiastic about entrepreneurship through acquisition, citing resilience and the unique skills gained from managing distress.