Vincent Deorio is the Director of M&A for Mynd Property Management. He’s recently been making the rounds as a guest speaker at various real estate events, where he shares his insights on how to close an M&A deal in the property management sector, and also outlines how to avoid some missteps during the process.
Throughout his career, Deorio has closed transactions valued at more than $1 billion for a variety of real estate assets. While with Mynd, he has worked on nearly all of the firm’s 14 M&A deals, for a total of nearly 9,000 rental housing units. Most recently, Deorio arranged a merger with RentVest that effectively doubled Mynd’s size to over 8,000 units under management, and gave the firm a presence in 16 markets across the country.
In a recent Lion’s Den Leadership Podcast, Deorio sat down with hosts Steve Rozenberg, Chief Visionary Officer of Houston-based property management firm Empire Industries LLC, and Alex Osenenko, Chief Growth Officer for Mynd. Deorio discussed how to navigate the sometimes turbulent waters when it comes to melding two corporate cultures in an M&A. He also provided some insight on the benefits of partnering with a growing property management company like Mynd.
In this podcast, Deorio takes a look at the challenges and best practices when it comes to finding the right real estate partners. Below are some abridged excerpts from Vince’s podcast.
Osenenko: Why do companies join Mynd? Is there a common theme?
Deorio: In about half of our M&A transactions, people are looking to retire. They had a lot of respect for their owners, and close relationships with them. A few other folks had hit a point in their company’s growth where they either had to staff up more, bring on an accounting team, or other support staff. In that case, it’s not flipping a switch. It takes time and there are headaches involved. These companies saw the horsepower we could provide from a back-office perspective that would enable them to step out of their day-to-day operations and leverage our horsepower to get them to the next level.
Rozenberg: What should a company prepare for prior to meeting with Mynd if they’re interested in being acquired?
Deorio: 1) Know the competitive landscape. 2) Have some basic things laid out, such as your org structure and job descriptions of your staff. It shows that you have thoughtfully put something together for your business.
To listen to the unabridged interview with Vince, download it here.
For more information about merging with Mynd, contact us today.