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_this-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime.jpg "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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_imelda-staunton-will-reportedly-be-absent-from-the-third-39downton-abbey39-movie.jpg "Imelda Staunton will reportedly be absent from the third 'Downton Abbey' movie because filming clashes with her schedule in West End production 'Hello Dolly!'.")
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_sun-eclipse-means-big-business-in-u-s.jpg "The bills are sure to be sky high - and it could boost the U.S. #economy by as much as $6 billion. <br/><br/>A solar eclipse across North America has got stargazers splashing out on hotels, travel - and #eclipse-themed merchandise. Correspondent Poppie Mphu-thing reports from Washington.")
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_descendants-of-sun-episode-1-korean-drama-in-hindi-dubbed.jpg "drama tells of the love story that develops between a surgeon and a special force officer.<br/><br/>")
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_large-sunspot-seen-by-nasa-spacecraft-and-mars-rover.jpg "Massive sunspot AR3576 has been captured by NASA's Solar Dynamics Observatory and the Mars Perseverance rover. <br/><br/>Credit: Space.com | footage courtesy: NASA / SDO and the AIA, EVE, and HMI science teams / JPL-Caltech | edited by Steve Spaleta<br/>Music:All Parts Equal by Airae/ courtesy of Epidemic Sound")
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_this-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime.webp "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.")
_descendants-of-sun-final-episode-21-korean-drama-in-hindi-dubbed.webp "drama tells of the love story that develops between a surgeon and a special force officer.<br/>")
_solar-maximum-could-arrive-earlier-than-expected.webp "Experts warn that the sun's next \")
_imelda-staunton-will-reportedly-be-absent-from-the-third-39downton-abbey39-movie.webp "Imelda Staunton will reportedly be absent from the third 'Downton Abbey' movie because filming clashes with her schedule in West End production 'Hello Dolly!'.")
_watch-a-39solar-snake39-slither-across-the-sun-in-orbiter-view.webp "ESA's Solar Orbiter captured a \")
_assessing-the-western-conference-playoff-landscape.webp "Assessing the Western Conference Playoff Landscape from new video sun")
_sun-eclipse-means-big-business-in-u-s.webp "The bills are sure to be sky high - and it could boost the U.S. #economy by as much as $6 billion. <br/><br/>A solar eclipse across North America has got stargazers splashing out on hotels, travel - and #eclipse-themed merchandise. Correspondent Poppie Mphu-thing reports from Washington.")
_descendants-of-the-sun-episode-5-in-hindi-dubbed.webp "Descendants Of The Sun Episode 5 in Hindi dubbed")
_total-solar-eclipse-sweeps-over-north-america.webp "A total solar eclipse has taken place over North America for the first time since 2017 on April 8, 2024.")
_descendants-of-sun-episode-1-korean-drama-in-hindi-dubbed.webp "drama tells of the love story that develops between a surgeon and a special force officer.<br/><br/>")
_large-sunspot-seen-by-nasa-spacecraft-and-mars-rover.webp "Massive sunspot AR3576 has been captured by NASA's Solar Dynamics Observatory and the Mars Perseverance rover. <br/><br/>Credit: Space.com | footage courtesy: NASA / SDO and the AIA, EVE, and HMI science teams / JPL-Caltech | edited by Steve Spaleta<br/>Music:All Parts Equal by Airae/ courtesy of Epidemic Sound")
_descendants-of-sun-episode-8-korean-drama-in-hindi-dubbed.webp "drama tells of the love story that develops between a surgeon and a special force officer.<br/><br/>")
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