From Searcher to Sponsor: How to Buy a $22m Business | Yan Vinarskiy Interview - Watch Here

About the Guest:

Yan Venki is a first-generation American and a former management consultant turned operator. He successfully acquired Floor Guard, a $22M manufacturing business, after pivoting from a traditional SBA search to a more complex independent sponsor deal. Known for his humility, transparency, and operational rigor, Venki represents the next wave of high-caliber operators entering SMB ownership with sophistication and soul.

Summary: 

In this riveting episode of Acquiring Minds, Yan Venki shares how a casual curiosity about buying a small business transformed into a $22 million acquisition using the independent sponsor model. What began as a side hustle while maintaining his W2 job quickly escalated into a sophisticated capital raise and a deal structure far beyond his original expectations. Venki’s story is a masterclass in pivoting mid-search, embracing risk, and leveling up deal sophistication—all while staying grounded in his operator-first mindset.

Backed by Mines Capital, Venki's acquisition of Floor Guard—a niche epoxy flooring manufacturer—highlights the growing appeal of larger SMBs with real growth potential. This episode bridges the worlds of search funds, independent sponsorship, and entrepreneurial grit, offering a rare behind-the-scenes look at how first-time buyers can leapfrog into serious ownership with the right mindset and mentorship.

Key Takeaways:

1. From Listener to Dealmaker: Yan Venki started his journey by listening to acquisition podcasts. Within a few years, he became both a guest and a sponsored entrepreneur through Mines Capital.

2. Why Buy Instead of Build: Venki leaned into acquisition due to his preference for scaling proven businesses versus starting from scratch—a philosophy echoed by the ETA community.

3. Search Evolution: Initially aiming for a $750K–$1.5M SDE business in Chicago via SBA financing, Yan eventually landed a $4M EBITDA deal by switching to the independent sponsor model.

4. The Calder Capital Advantage: By hiring Calder Capital as his buy-side team, Venki accelerated his search, closed in 5 months, and gained credibility with sellers.

5. Deal Surprise: Floor Guard dramatically understated its EBITDA, initially claiming $1M but actually earning $3.7M—leading to a complete rethinking of the deal structure.

6. The Pivot to Independent Sponsor: After a 30-minute conversation with Nicholas James, Venki embraced the model—raising $7.5M in equity and securing SBIC-backed debt financing.

7. No Personal Guarantee, No Problem: The independent sponsor model eliminated PGs and replaced them with aligned investors, a flexible capital stack, and a supportive board.

8. Manufacturing Growth Play: Floor Guard manufactures slow-curing epoxy and polyaspartic coatings—a differentiated product with wide commercial and residential demand. The founders scaled from carpet cleaning to chemical formulation via sheer grit.

Article: 

From Side Hustle to $22M Deal: How Yan Venki Leveled Up from Searcher to Independent Sponsor

In the world of small business acquisitions, many start with spreadsheets and podcast dreams. But few take the leap that Yan Venki did—and even fewer land the kind of deal he closed.

This episode of Acquiring Minds offers an unusually transparent look into one man’s journey from management consultant to owner of a $22M manufacturing company. Venki began his search like many others—aiming for an SBA-funded, $1M SDE business close to home in Chicago. But what followed was anything but typical.

After hiring Calder Capital to conduct a buy-side search, he discovered a gem of a company: Floor Guard, a manufacturer of niche, slow-curing epoxy coatings. Only after his first site visit did he learn the real kicker: the business was generating nearly $4M in EBITDA—far above his original target.

Facing what seemed like an insurmountable hurdle, Venki almost walked away. But then came a pivotal 30-minute conversation with Nicholas James, a GP at Mines Capital. That single chat reframed his options. Instead of shoehorning the deal into an SBA box, Venki embraced the independent sponsor model—a move that would change his life.

He quickly assembled a deck, raised $7.5M in equity, and worked with two SBIC lenders to close the deal. Gone were the personal guarantees and cash-tight SBA notes. In their place? A flexible capital structure, aligned investors, and a board filled with growth-minded allies.

Venki is candid about the emotional challenges too. The soul-searching. The risk. The shift from “owning 90%” to “owning 30% with support.” But he now sees the benefits: a bigger business, more capital to reinvest, and stronger infrastructure for scale.

As Floor Guard ramps up growth in both installation and product sales, Venki remains hands-on, proving that not all sponsors are deal flippers—some are operators through and through.

This is one of the best real-world walkthroughs of how to scale up your acquisition mindset, raise real capital, and close on a business that’s actually worth the leap.

Listen to this if you’ve ever wondered:

• How do I buy a business bigger than what SBA allows?

• What’s the real difference between owning 90% vs. 30%?

• Is an independent sponsor model right for first-timers?

The answers aren’t theoretical here. They’re lived, hard-won, and executed—all in less than a year.

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