Meet most popular Entrepreneur Kosi Stobbs | Kosi Stobbs founder and CEO of the Owl Group, acquires businesses |
Learn how KosiStobbs, the founder and CEO of the Owl Group, acquires businesses, preserves their culture, and investigates growth opportunities without aiming to sell them for a quick buck. This is the legacy that Kosi Stobbs, an entrepreneur, is creating with his new business, Owl Group of Companies.
Kosi Stobbs is affectionately alluded to as ‘The Owl.’ He is smart, wise, and always on the lookout, like his name. Only Stobbs is looking for profitable businesses to acquire and expand. In 2016, he founded Property Owl, a real estate investment acquisition firm, to get his start in business. All the more as of late, he has extended his vision to move into putting resources into organizations in different businesses determined to assist them with developing to progress.
He is now the founder of Owl Group of Companies, which owns Vital Manufacturing, Specific Mechanical Systems, Vertex, and Silver State Stainless as well as multiple operating businesses.
According to the explanation provided on his website, “I buy companies, primarily established companies, where the owners are looking to hand the torch over to someone who will help support, grow, and prosper it.” Owl Group of Companies will protect any business’s culture and legacy by guiding it through a seamless acquisition transition through a strategic purchase process. They will work in four effective steps to understand and safeguard the company’s long-term objectives, conduct all operational, financial, and legal due diligence on the company, make the purchase, and devote as much time as necessary to ensuring a smooth transition that benefits everyone.
Buying Businesses During a Pandemic The Covid-19 pandemic had a positive and negative impact on his business. The pandemic presented numerous obstacles, he claims. However, through challenges come open doors. The majority of our expansion and acquisitions occurred during the pandemic’s first two years. Things happened faster because of the pandemic. Things that were going to happen eventually got done sooner as a result.
Stobbs thinks that businesses and their leaders have learned a lot from the pandemic. Businesses must be able to anticipate unanticipated events and remain resilient even when things go wrong. Because you have to anticipate some kind of downturn, it is important to consider how to position yourself in times like these. Your business plan must include that. That’s the way you have to think. Your company must be able to withstand downturns, even though you don’t know what will happen or how it will turn out. Fortunately, we expanded in both size and revenue for each of our operating businesses.
The company’s recent acquisition decisions have also taken into account a company’s performance during the pandemic. We buy operating companies that have been successful and growing throughout the pandemic, and I decide which companies we will acquire and how to structure them, he states.
Stobbs states, “This year, we’re on a strong growth curve” regarding the group’s plans for expansion. We generate more than $100 million annually in revenue. We are on a strong growth path and have a lot of good companies that fit our model in the pipeline. We’ve set ambitious goals for the coming year because we want to keep growing. He says, “We create plans for five years, reevaluate them, and then ask how we can achieve them in a year.”
With this enormous growth curve, expansion is bound to happen. We are in both the United States and Canada. We started in Canada, but by the end of the year, probably more businesses will be in the United States than in Canada. We focus on manufacturing because we think it will be important to the global supply chain in the long run.
In the future, he intends to broaden the scope of his international acquisitions. A portion of our organizations are in 20 to 30 nations. The more global customers you have, the more it makes sense to have a global presence. Acquiring businesses in other countries makes sense once you reach a certain size. Europe will be our next stop, he says.
What’s Next for Stobbs? According to him, “I’ve always wanted to build a multi-billion dollar enterprise.” It has been in my head for a very long time, and our company is well on its way to achieving that.
His motivation to establish a successful business comes from his upbringing. His folks are workers from Jamaica and he acknowledges them for his assurance to be an outcome in his endeavors in general. ” My parents put in so much effort and made so many sacrifices for their children. My father was a brilliant individual. So was my mother. They never held high-paying jobs, but they worked hard every day to ensure that their children could attend college. They were denied the chance to do that. They laid the groundwork for where I am now. I’m always thankful,” he says.
I’m aware that my life is different. This would never have occurred if I had grown up in Jamaica,” he explains. The opportunities I’ve had, in my opinion, were a gift. When you’re blessed in this way, I think you should try to give back in some way. I want to start a business because of this. Then we can have enough money to do incredible things: You can give people opportunities to work, or you can put the money and investments you make back into areas of the world that don’t have an education system and help build them. That is the long-term objective. I’m in my 40s now, and if I can accomplish that in my 50s and 60s, I will be truly blessed with my life’s accomplishments.