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In this episode of the Sell or Scale podcast, host John Bartlett interviews Max Mortimer and West Hubbard, Co-CEOs. The duo discusses their joint venture, Basement Kings USA, a platform for acquiring foundation repair and basement waterproofing businesses across the Sunbelt region.
Max and West bring complementary backgrounds – Max comes from finance and private equity, and West comes from marketing and lead generation. They target companies with $7-12M in revenue that have established systems but need help scaling to the next level.
The interview covers their acquisition approach, including deal structure: typically 40% cash upfront, 50% seller note, and 10% rollover equity. They emphasize the potential for sellers to “5x” their equity investment over five years through platform growth and multiple arbitrage.
The conversation explores the due diligence process (typically 60-120 days from LOI to close), how sellers should prepare emotionally and operationally for transactions, and the transition of control post-acquisition. They highlight that they’re growth-oriented investors looking to build teams rather than downsize them.
For business owners considering an exit, they recommend starting conversations early to understand how their role will change and properly positioning their company to maximize valuation when the time comes.
