MSP Acquisition Spotlight – Kevin Peterson
Discover firsthand experiences from Kevin Peterson, a former MSP owner, on adjusting to life within a larger organization, finding the right buyer, and embracing a new work-life balance after selling his business to The 20 MSP.
1. What’s it like not being your own boss anymore? Did that take some getting used to?
It took a while to learn that I didn’t need to or get to make all the decisions. It’s been freeing knowing that I respect my boss, Ken Pecot, and knowing that he is doing what is right for The 20. He help keeps me accountable and moving in the right direction.
For the first time in my life, I have a team of peers that I am learning from and growing with. We have some reallllly smart people that I love working with.
2. Selling your MSP is a big decision. Where did you go for guidance and advice?
My wife and I talked and prayed about the decision to sell. I also talked to a few close advisors that understood the M&A process intimately. I looked at the goals we had in life and for our company and realized that it was time to make a big decision to sell and go in a different direction.
3. How difficult was it to find the right buyer? What made you choose The 20 MSP in the end?
I had a few other companies inquire about purchasing my MSP but they weren’t the right fit. I had very close relationships with Tim, Ken, and other companies that were rolling up at the same time. We were able to talk together about the benefits of rolling up and doing something amazing together. Being in business with people I know and trust is very important to me.
4. How did you approach sharing your M&A plans with your team and clients? Were you surprised by any of their reactions?
We shared with our team about a month before the acquisition. We shared with all of our clients day 1 of acquisition. They were very supportive after explaining the reasons for our rollup and the extra benefits to them.
5. What’s changed the most in your life since selling your MSP?
My wife, Barb, and I travel a lot more.
6. Since selling your MSP, is there something – inside or outside of work – that you’ve been able to focus on more?
I’m able to focus on enabling the National Project Team to execute on projects for our clients. I don’t have to deal with constant interruptions and changing priorities. The ability to focus makes our team and me much more effective.
7.What do you miss most about running your own business?
The sleepless nights, wondering if a major client would leave and drop our revenue by 20%, being afraid of a key employee leaving and taking other staff and clients with him, and thinking I had to do it all.
Wait, did you say what I miss or what I don’t miss???
8. What’s your best advice for someone thinking about selling their MSP?
Figure out your medium and long term goals in life, for your company, & your family. Then see if your current company and direction will get you there. If not, make a change.
9. Can you talk about your current role? How has your day-to-day changed since selling your company?
As VP of the National Project Team my job is to set priorities, drive metrics, and hold the team accountable for our results. This is done by working with our team members, making sure they have the resources to succeed, and helping them to focus and prioritize. My days are about my team and what they need. Our job on the NPT is to execute on our projects right the first time, communicate well with our clients (both internal and external), and deliver a great client experience.
10. In your opinion, what’s the most important quality for success?
The ability to juggle 12 running chainsaws at the same time for 3 minutes straight. It’s either that or perseverance.
11. What’s something most people don’t know about you?
I was a Top 40 radio DJ right out of high school and I tried a radio name of “Kevin Thunder.” That ,and I am the “Eye Candy” of The 20…
12. Describe your dream vacation in 3 words…
Barb, a cruise, food
Ready to explore more about M&A? Visit our M&A tips page for valuable insights and guidance!