TIP713: Why Serial Acquirers Outperform w/ Niklas Sävås

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 11 April 2025

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Clay is joined by Niklas Sävås to discuss the business model of serial acquirers. A serial acquirer is a company that grows primarily by repeatedly acquiring other businesses as a core part of its strategy. Over the past two decades, many serial acquirers have proven to be profitable investments in the stock market including Constellation Software and Lifco AB. In this episode, Clay and Niklas break down the most important factors to understanding the business model as investors. Niklas Sävås is a senior equity analyst at Redeye AB where he does extensive research on serial acquirers in the Nordics. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:55 - What a serial acquirer is and why serial acquirers are able to buck conventional thinking on making acquisitions. 08:54 - What the return profile is for serial acquirers in making private acquisitions. 10:35 - Best practices used by successful serial acquirers. 24:49 - Why it’s important to be the buyer of choice as a serial acquirer. 40:18 - The most common challenges that serial acquirers face. 49:01 - The importance of organic growth for serial acquirers. 54:41 - An overview of the Roko IPO. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Check out Redeye. Investing by the Books Podcast. REQ Capital Report. Follow Niklas on LinkedIn & X. Follow Clay on LinkedIn & X. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining Hardblock AnchorWatch CFI Education Found Fundrise Indeed The Bitcoin Way Vanta Shopify Onramp TurboTax HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP. On today's episode, I'm joined by Nicholas Savas to discuss the business
0:06.3	model of serial acquirers. Nicholas is a senior equity analyst at Red Eye AB, where he does
0:12.0	extensive research on serial acquirers in the Nordics. A serial acquirer is a company that grows
0:17.9	primarily by repeatedly acquiring other businesses as a core part of its
0:22.2	strategy. Over the past two decades, many serial acquirers have proven to be profitable investments
0:27.3	in the stock market. Some well-known names that our audience might know include Berkshire Hathaway,
0:32.6	Constellation Software, Lyftco, and AdTech. In this episode, we break down the most important factors to understanding the business model
0:40.2	as investors.
0:41.5	We also cover why serial acquirers are able to buck conventional thinking on making acquisitions,
0:46.8	what the return profile is in these acquisitions, best practices used by successful serial
0:51.7	acquirers, and why it's important to be the buyer of choice
0:54.5	for sellers, the most common challenges that serial acquirers face, the importance of organic
0:59.6	growth, as well as an overview of the Roco IPO led by Frederick Carlson, who's the previous
1:05.1	CEO of Lifco, whose value increased by over 100 times under Frederick's leadership.
1:10.4	I find this business model very
1:12.0	fascinating, and serial acquirers play a key part in my own personal portfolio. So with that, I hope
1:18.0	you enjoy today's discussion with Nicholas Savas. Since 2014 and through more than 180 million downloads, we've studied the financial markets
1:30.3	and read the books that influence self-made billionaires the most.
1:34.3	We keep you informed and prepared for the unexpected.
1:37.3	Now for your host, Clay Fink, and today I'm happy to welcome
1:52.2	Nicholas Savas to the show. Nicholas, it's great to chat with you here. Pleasure to be here, Clay.
1:58.1	So for the past couple of years, I've been interested in the business model of serial
	...

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