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Staying small is working out big time for Shore Capital. Their average internal rate of return on its 14 exits, all in health care, is 53%, net of fees. That’s nearly triple the average net IRR of U.S. buyout funds raised since 2009, according to data from Cambridge Associates. After Shore took its 20% to 30% cut of profits, its exits multiplied investors’ money by 5.5 times on average, also nearly triple the average total value to paid-in capital multiple of U.S. buyout funds raised during that period. Shore has never unloaded a company for less than three times cost before fees, nor, it says, has it ever suffered a loss. “Those are top 1% returns in private equity,” marvels one investor who asked not to be identified, citing his organization’s press policy. “That’s rarefied air, right? That’s more like venture capital than a traditional buyout firm.”<br/><br/>Ishbia and his team have acquired more than 1,000 mom-and-pop shops across the country (average cost: $15 million) since Shore’s 2009 founding and rolled them up into 61 larger chains of things inclu­ding autism treatment clinics, bakeries and exterminators. “We’re buying businesses in Akron, Ohio, and Pittsburgh, and Birmingham, Alabama,” Ishbia says. “There’s more low-hanging fruit for me. It’s Joe Schmo on Main Street.”<br/><br/>Shore then invests in computer systems and equipment, stacks the businesses’ boards with industry veterans and hunts for complementary companies in adjacent markets. “We’re just buying and buying and buying,” says Ishbia, who insists Shore doesn’t take on as much debt as other private equity firms and doesn’t cut servi­ces or head count. “The private equity world gets a bad rap for ‘buy this, slash that.’ We are growth—we have almost 35,000 employees and hire thousands per year.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/mattdurot/2024/04/08/this-main-street-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime-justin-ishbia/?sh=3140aa9e39ee<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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The Italian box office sensation THERE’S STILL TOMORROW (C’È ANCORA DOMANI) will be launched across Vue’s UK and Ireland cinemas from 26 April, with tickets now on sale.<br/><br/>The comedy-drama, which is lead actor Paola Cortellesi’s directorial debut, has broken Italian records becoming the most-watched 2023 release, performing better than Barbie or Oppenheimer by box office. It also sold out a record number of screenings at its recent London preview at Cinema Made In Italy festival. The film is now the third-largest Italian film in the last 10 years and one of Italy’s top 10 highest grossing films of all time, not to mention the largest Italian film directed by a woman, in history.<br/><br/>Set in Rome in 1946 on the eve of women gaining the right to vote, the film plays out against a backdrop of poverty, domestic violence and toxic masculinity, centring around one woman’s determination to break the cycle of abuse. A contemporary take on classic neorealism, the film counters its tough themes with unexpected comic moments and an optimistic outlook around female empowerment. It features a modern soundtrack including music by the Jon Spencer Blues Explosion.<br/><br/>In post-war Rome, a city torn between its newfound liberation and the miserable aftermath of the Second World War, Delia (Paola Cortellesi) is seemingly resigned to her traditional role of wife and mother. Her husband Ivano (Valerio Mastandrea) is the undisputed master of the family. Delia sees her daughter Marcella’s (Romana Maggiora Vergano) engagement to her middle-class boyfriend, Giulio (Francesco Centorame), as Marcella’s chance to avoid the same fate as her. Everything suddenly changes when a mysterious letter arrives and fires up Delia’s courage to overturn convention and start wishing for a better life – and not just for herself.<br/><br/>The move into feature film distribution marks a first for Vue, an exhibitor, which operates 92 cinemas in the UK and Ireland and is the largest privately owned cinema operator in Europe. Until now, Vue has primarily released pre-school programming, concerts and big screen sports events but following the incredible success of THERE’S STILL TOMORROW in Vue’s Italian sites, Vue saw an opportunity to bring its customers even more choice.<br/><br/>\
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