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Jan. 23, 2022

E:43 Joseph B. Anderson 13 Acquisitions with Revenues over $1.3 billion

E:43  Joseph B. Anderson 13 Acquisitions with Revenues over $1.3 billion

Joseph B Anderson.  WestPoint graduate,  Vietnam Veteran Served 13 years in Army,  Featured in the movie “The Anderson Platoon”.  After Vietnam,  became plant manager for GM - responsible for $1 billion in revenue.   Left GM to buy his first acquisition, Chivas Products Limited.  Inherited a lot of debt, leveraged everything,  sought bankruptcy protection.   From that experience, Developed a signature turn around strategy.  Chairman and CEO of Tag Holdings.  Started in 2001.  Holding company for Wolverine Industries & Baron Industries.   Profiled on CNBC's "Blue Collar Millionaires".  13 Acquisitions with Revenues over $1.3 billion 

00:00 Sponsor - DueDilio
00:31  Intro to Joseph B.  Anderson
01:44  His first acquisition in 1994 of Chivas Products Limited
03:19  Balance sheets,  what did too much debt teach him
04:32  Hard lessons learned - Making same mistake says something about you
05:05  2nd Acquisition  Acquires Vibration Control Technologies, LLC, majority owner – divested in Mar 2010.        
06:27   What life lessons - what is worse could happen - learned from Battlefield
07:29   How transparent are you with all your employees - what is leader responsible for?
09:04   What did he do with - Chivas Products Limited?
09:44   In 2003 acquires a unit of Dongsuh, in Korea - lessons learned from a distance
11:59   Who was his mentor at West Point?
12:28  Acquired In 2003 North American Assemblies, Sold to long time General Manager - Value of your business is only nice on paper only real when you sell it.   Mentoring / Creating Opportunities
15:55  Acquired Wolverine Assemblies - Joint Ventures in the Auto Industry 
18:40  Helping others,   can't spend it till you sell it.  Owning it nice.   Having owned it is better
19:35  Identifying superstars - the right people.   Some people do not work out. 
20:34  Acquired Shared Vision LLC.   Customer caught cold he caught pneumonia  Lesson Customer Concentration
21:20  Acquired Baron Industries  - one of his best success story - did so well not going to tell you. 
22:32  Divest from Aircasters - not doing so well sold without exciting returns
23:13   Learning from failures - what was his biggest one - avoid these characteristics - hard decisions about people. 
25:24  Turning down opportunities - reality checks
27:24   Do you like being CEO of a holding company?
28:02   How does he improve his skills?
28:55   What is his future plan for Tag Holdings?
29:50  Did he ever step in and take over as CEO of one of his companies?
30:32   What Advice would he give to someone entering M&A world
31:22   What about his favorite phrase,  "It is what it is"