Once he identified BPI, he sourced debt and equity capital to finance the business acquisition, raising debt from Live Oak Bank by utilizing an SBA 7(a) loan and raising preferred equity with a 10% preferred return. The economic characteristics are compelling, and it’s a perfect fit,” said Butler.īutler acquired BPI using a self-funded search structure. The company has a deep history of growth and profitability, and I like the tech services space. BPI is a wonderful business, and it is the right scale for me as a first-time, young CEO. I started at Yale with the hope of taking on an entrepreneurial project, and now, at 32, I am an entrepreneur. I haven’t even completed my MBA program, and I am already the CEO of a thriving business. The $11 million company serves more than 300 customers in the greater Cleveland, Akron, and Canton area. services, like remote monitoring and data backup recovery virtualized solutions server, desktop, and storage solutions technology hardware and software sales and server, desktop, notebook, and printer onsite repair services. As a technology solution provider, BPI specializes in network consulting, integration, and implementation services managed I.T. Its mission is to provide the highest level of integration support and service in order to keep businesses functioning without lost productivity or downtime. BPI’s forte is the design, installation, support, and emergency repair of network solutions for business, healthcare, government, and education. Instead of choosing an industry and company to analyze and evaluate as a potential acquisition candidate, Butler actually acquired a business.īPI Information Systems, based in Cleveland, Ohio, was established in 1976 and has served as a cornerstone of the I.T. When Ross Butler enrolled in the course Entrepreneurship Through Acquisition (MGT671), he apparently misunderstood the final project’s requirements.
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