Ep. 49 — Navigating the First Acquisition: Insights from Dr. Henry Silvestriz, DC

Welcome to the "Show Me The Way" podcast with David Seitter

In this episode of “Show Me The Way,” Dave talks with Dr. Henry Silvestriz, Doctor of Chiropractic Services, and President & CEO / Co-Founder of Vinci Holdings, LLC, exploring Henry's journey from his humble beginnings in Puerto Rico to his recent ventures into the world of mergers and acquisitions (M&A). Learn about the challenges he's faced, the lessons learned, and the exciting future ahead.

Ep. 49 — Navigating the First Acquisition: Insights from Dr. Henry Silvestriz, DC

Henry was born in Puerto Rico in 1982. He completed his high school education on the island before enlisting in the Army in 2001. His military stint as an artillery specialist offered him unique experiences, but it wasn’t until after his service that he found his true calling.

The Path to Chiropractic Medicine

After leaving the Army, Henry joined the Dallas Police Department, serving for seven years. His career took a turn when he decided to pursue chiropractic studies at Life University in Georgia, graduating in 2018. His interest in the field extended beyond personal practice; he actively participates in chiropractic mission trips to Guatemala with Tanaka Chiropractic Missions, providing care to underserved communities.

The M&A Journey Begins

Inspired by the teachings of Dan Pena, Henry set his sights on the business world. With the encouragement from Pena's seminars, he realized that one didn’t need to be wealthy or have a specific degree to buy a business. Thus began Henry's journey into the M&A space, eventually founding Vinci Holdings with his father.

Vinci Holdings: Merging Healthcare with Business Acumen

Vinci Holdings has carved out a niche in the healthcare sector, focusing primarily on technology within healthcare, such as Electronic Health Records (EHR) systems and clinics. Henry and his team began actively searching for acquisition targets in September 2020, starting with modest goals and gradually moving to larger deals.

Overcoming Challenges in the M&A Process

Henry’s first acquisition is close to completion, and he shares invaluable lessons from the process. Establishing relationships with sellers is crucial since they are entrusting their company's legacy and their employees' future. Furthermore, it is essential to perform thorough due diligence, not only on the target businesses but also on the service providers assisting in the due diligence process. Henry recounts a costly lesson when he had to switch accounting firms midway through due diligence to get the quality of earnings report right.

Advice for Sellers

Henry offers practical advice for sellers to enhance their likelihood of a successful sale:

1. Realistic Expectations: Understand that an outright, immediate exit with full payment is rare.
2. Open to Structures: Be open to various deal structures, including promissory notes and equity stakes for future payouts.
3. Company Preparedness: Improve the company’s internal structures, such as having a CFO or Controller, to make the company more appealing to buyers.

Looking Back and Moving Forward

Reflecting on his journey, Henry notes the importance of not limiting oneself to small deals. Pursuing larger targets can often be more fruitful and less cumbersome in the long run. He looks forward to growing Vinci Holdings by continually acquiring more businesses in the healthcare sector and leveraging his initial success to propel future endeavors.

Reaching Out

For those interested in learning more about Vinci Holdings or seeking partnership opportunities, Henry is active on LinkedIn and encourages direct contact. His openness to conversations underscores his commitment to building relationships and expanding his network.

 

 

 

To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at dseitter@spencerfane.com

 

Disclosure

This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.