Buying a $12.5m Contractor to Create 1,000 Jobs | Manolo Diaz Corrada Interview

Synopsis

Manolo Diaz Corrada returned to Puerto Rico to buy Bonneville Group, a telecom, electrical, and IT contractor doing $12.5 million of revenue and tracking toward $14 million. The business had fallen from about $12 million in the 2010s to $2 million in 2021 during Covid construction shutdowns, forcing Manolo to persuade lenders to look past volatility after more than 20 banks passed. The episode covers a Puerto Rico-only self-funded search, contractor revenue risk, SBA approval, and a long-term goal of creating 1,000 jobs.

Ideas in this episode

• Search-fund small business acquisition

  Manolo Diaz Corrada ran a Puerto Rico-only self-funded search, persuading lenders past volatility after 20+ banks passed, to buy Bonneville Group doing $12.5M of revenue.

• Small business acquisition (no experience required)

  Manolo Diaz Corrada bought telecom and electrical contractor Bonneville Group at $12.5M of revenue with SBA approval, targeting 1,000 jobs created over time.