****** **** ******* ************* ****** ************ ****** ******** ****, ******* the ******* ********** ** it ******** ** ***** on ******* ** ******* ******* ACRE.
**** ******* *********** ******* ** **** that ***** ****** ***** replace ****** ** *********.
Two *** ******* ** *** *****
**** ******* ********* ****** had **** ******** *** company ******* *** ***** stages ** *********** ** holding ******* **** **** he ************ ****, ******* the ******* ** *****, according ** ******:
**** ******** ****** ** was * **** *** shock ** *** ********. And **** *** ******** was ***** **** *** it *** *** *** events ** * *** week ******.
****** **** **** *******, they ****** ******* ** run *** ******* *** him ******* *** **** made ***** ** **** parties, **** **** ********* Joe ****** [**** ** longer *********] ******* *** to ***:
**** ****** ******* ** run **. * *** known *** **** ******* guys *** * *****. I **** ********* ***** .... Joe ****: '****, ***’** an ******** ** ****, this ** * ****** for *** ** **** after ** *** ** will **** ** ***.'
Challenge: ******* *******
****** ** ******* ** keeping ****** ***** ** a ******** ********* *** helping *** ******* ** grow:
***** *** ** *********** for ** ** **** and *** *** ******** on ****** ** **** and *** *** ******** up *** *** ******. And ****’* **** *’* doing.
*******, ** *** *** admission, ****** *** **** catching ** ** ** since ** *** **** nearly *** ******* ***** he *** **** ** the ******** **** ** the ****** *****:
**’* **** ** ***** since *’** **** ** the ****** ******* ********* business. *** ********* *** me ** ** *** kind ** *******. ******* for *** **** ** years *’** **** * component ********. ******** *** always **** ** *** game, *** ** ****’* mine.
Objective: ****** *** ******** ** * *****
****** **** *** **** is ** ****** *** business ** * *****. Open ******* ****** ******* was $** ******* ** 2018, ********* ** * presentation ** ********. **** puts *** ****** ** $40 ******* *** * CAGR ** ~**%. ***** this ** ***** ****** control ******** *******, **** is ********* ******** ** achieve, ********** **** ****'* resources, ***********, *** ********* of *** ****** ******* market, ***** **** **** Options ************ ******* ********** reach.
****** **** *** ***** to ******* **** **** included "*** ******** **" what **** ******* *** already *******:
* **** * *** of **** ** ** sails **** **** ******* having **** *** ********** in *** **** * years. **’* *** ******** from *******. **’* * fast ****** ****. ** job ** ** **** the ***** ** *** this ******** **** ****** have *******. ****’** **** a ****** **** *** of ******** ***** ******** over *** **** *** years *******. ** ********* is ** *** ***** it **.
Staying *******
**** ******* ********* ********* who **** **** *******, Wagner ****. *** *****, he ****, *** ** allow **** ** **** doing **** **** *** done ******* ** *** where **** ***:
* ***’* *** * lot ** *******. ** was ****-***, *** ** was ****-******* *** *****’* a *** ** ******* there **** *** ****** who **** **** **** do. * ***** ******* that *** ******* ****** of ** **** ******* employee ** **-** ***** and *** *******’* **** 20 ***** ***.
Leveraging **** ******
**** ** * ******* company **** *** ************ * *** ** money ** *** **** few ***** ** ******** its ******** ** *** ****** ******* market. **** ******* ***** existing **** ************ ******* Security, **********, ***, *** ComNet. ******'* ****** ******* Mercury *** ******** ****** *** **** ** HID ** **** *** * ***** ******.
****** **** ** *** excited ** ******** ***** sister *********' ********* *** efficiencies ** ******* "*********** glide":
** *** **** ** the **** *********, * lot ** **** *** the **** **** **** Options **. *** ******* ACRE *** ***** **** for * *****, ****’** established **** ********* ******* themselves **** ** *** use. ** ** *** use *** ***** ****-****** systems—Finance, ***, ***—** *** leverage *** ********** **** has ******* ****. **** gives ** * *** of *********** ***** **** we ***’* **** ** create ** *** ***.
** * ******, *** the ******* *** ********* with *** ********* **** be **** *********** *** sophisticated, ****** *******.
ACRE ********* **** ***** ********** *****
*******, ****** **** **** while ****'* ********* ***** not ***** *** **** "lift" *****-****, *** ***** did **** *** ******* of * ******* ********** and *** ***** ** combined **********:
****’* ********* **** ******* Open ******* *************. **** of *** ****** **** does *********-**** ** **** give ** *** ****** to ****** ******* *** make ** ** ******** waters. ****'* ***** *** a *** ** ***** that ** *** **** behind. **** *** ******* 3 ** * ********* that *** **** ******** it ***** ** * lot ** ****** *****.
*******
*** **** **** **** Options *** ********* ** ACRE, ***** *** **** rolling ** *** ********** access ******* ******** ** recent ***** **** ***************** ******** ~ $*** million***** **** *** *** chances.
*******, **** *** **** pockets *************** ******* ****** ****** it. **** **** ******* can ** **** ** strengthen *** ***** *** expand ************* **** *** dealers *** *********. *********** like *********** **** ************** ** ******** ****** program, *** **** **** Options ** *** *** to ******, ** ****, if *** ******* ****** any **** ******** ** existing *** *** *******, which ******* ** ** seen.
**** *******, *** ***** by ****, ** *** aiming ** '*******' *** 'revolutionize' *** ******** *** has * **** ****** to ******* ** *** relatively ****** *********.
Comments (2)
Brian Rhodes
This is an interesting 'story' to read, Dan. Instead of generic press-releases that are the norm, this actually connects many 'dots' behind the move, kudos to Steve's frankness.
Also, Joe Grillo/ACRE seems to make strong decisions. I'm not sure how much of a push-goal 15% CAGR is, but it would not be surprising if Open Options achieves it. Especially, since Dan notes above, the company is a modest-sized regional player at this point.
Also, it emphasizes the need for business succession planning. In this case, losing Jon Berman was a terrible loss, and ACRE is something of a 'white knight' in getting an experienced/market savvy Wagner to take the reins. Would other companies in our industry survive a similar loss?
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Dan Gelinas
Thank you, Brian. You pose an interesting question for any business owner. How prepared are they for their business to go on after they're gone?
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