I recently left my PE gig to try something more entrepreneurial. I built a thesis around rolling up certain assets in the healthcare industry that trade at low multiples (3-5x) which can be leveraged easily and can trade at up 10x once they generate large enough cashflows.
I managed to raise enough capital to execute the strategy and currently have one asset locked up and ready to get purchased, but I'm starting to get cold feet on the thesis as I am having a harder time than expected finding additional acquisitions. I know it's highly fragmented and that there is a large amount of these assets, but I'm starting to find out that most are not as good as I thought they would be (i.e. not generating much) so I'm not sure how many are valid targets. I'm slightly afraid I might end up getting stuck with only a few assets generating a few 100k in EBITDA and not be able to build to my exit strategy.
I'm looking for someone that has experience in rolling up small assets (100-500k EBITDA) to discuss what I'm doing and bounce some ideas - basically get a rational opinion on if what I'm doing is viable. I'm sure you can understand why I can't really discuss my cold feet with my team or my stakeholders.