Buy Neglected Subsidiaries, Rehabilitate Into Treasure

“expenses. I observed that big companies and investors were buying companies willy-nilly and then selling off the seemingly unprofitable parts of their acquisitions. But, where they saw failing parts or pieces of businesses they did not want, I saw assets that could be rehabilitated with relatively little investment and attention; I saw businesses that could be transformed into profitable assets.  There were some hostile takeovers, and there were some subsidiary businesses that were all too often destroyed, leaving behind broken plants, broken careers, and unserved customers. So, I asked myself what if we could acquire some of these subsidiary companies, apply our greater expertise and know-how, and then turn them around? Before too long, that’s exactly what we were doing. I loved to find companies that were lodged inside the bubble of big corporations. These corporations often had no clue what was going on in these smaller subsidiaries that somehow ended up on and appeared to weigh down their balance sheets.”

“But I also came to love the world of sales, business development and deals. Putting deals together and finding distressed companies or properties that we could purchase at a reasonable price and turn into treasure – well, this was fast becoming my forte and the corporate mainstay of Clean Harbors.”