Podcasts about holdco

 Feeling stuck digging without seeing results? You're not alone, friend. In this episode, I share the behind-the-scenes journey of building my business from nothing—no connections, no funding, no experience. Plus, I reveal the mindset shifts that helped me pivot from photographer to CEO and my 1-on-1 convo with Gary Vaynerchuk about building my holding company. If you're in the foundation phase, this is your reminder: you're exactly where you're supposed to be. Let's build something incredible.

In this episode, Jordan Ross unpacks how he scaled his holding company to $13 million in annual revenue — and why he intentionally scaled it back to $5 million to regain clarity, control, and profitability.He breaks down the biggest lessons learned in hiring, equity structuring, and partnership dynamics that every agency owner should understand. Whether you're building a single business or managing multiple ventures, these insights will help you avoid common pitfalls and scale with precision.⏱️ Chapters00:00 – Building a $13M Holding Company02:03 – Why A+ Talent Changes Everything03:28 – Hiring and Scaling With Intention04:38 – Date Before Marriage: Partnership Timing06:30 – The True Value of Equity09:49 – Vesting Schedules That Prevent Regret11:20 – Defining Ownership in Complex Structures12:40 – Why You Should Pay As You Go14:23 – Revenue Share Benchmarks That WorkTo learn more go to 8figureagency.co

Register for the webinar:Anatomy of a Franchise Holdco - Thu May 1st - https://bit.ly/3RWj0QhIn 2019, Matt Kopp bought a supplier to elementary schools with $350k SDE. 6 years later, he has a portfolio of them.Topics in Matt's interview:Business buying market in AustraliaEliminating interruptions at workTracking email open rates to improve his outreachBuying a science class supplierChallenge of selling to schools without a relationship Overcoming people problems during transitionWeathering Covid lockdownsForming an education holdcoBeating out private equity for his last acquisition Selling to private equity after growing the businessReferences and how to contact Matt:LinkedInSimon Plummer on Acquiring Minds: From Frustrated Searcher to $3.5m Owner to Holdco BuilderPete Seligman on Acquiring Minds: Making a Career of Buying BusinessesEnduring Investment PartnersSouthern BiologicalHands on ScienceJunior RockersPrimary Music InstituteLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamDownload the New CEO's Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:https://www.malaunchpad.com & enter code ACQUIRINGMINDSConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

HoldCo Bros are back! In this episode, Nik shares what he learned from 30+ conversations with entrepreneurs using AI in their businesses—what tools they're using, what's actually working, and some surprising patterns that came up. We also talk about how he built a full workflow using Google CoLab and OpenAI to analyze all the data.I also share my experiment with a real-world billboard ad for the podcast, how I'm testing taglines with Facebook ads, and different ways I'm tracking the results. We even get into some fun ideas around using AI for things like relationship advice and business mediation.Learn more about Nik here: http://linktr.ee/cofoundersnikCheck out Limitless pendant hereShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:33 ChatGPT's Bias and Trustworthiness vs. Google02:58 Seeking Unbiased Feedback from AI (and its Challenges)07:38 AI for Business Mediation and Conflict Resolution10:04 Most Popular LLMs and Their Use Cases (ChatGPT, Claude, Perplexity)12:33 Claude's Advanced Project Structure & Writing Strengths15:02 Cursor vs. Replit: Coding Tools and Usability vs. Functionality17:26 AI Tools Summary: Use Cases and Strengths by Model19:52 Cleaning and Analyzing Podcast Transcripts Using AI & Google Colab22:20 Automating Insights: Creating Lead Magnets and Quizzes with AI24:40 The Importance of Data for Personal AI Assistants27:07 Billboard A/B Testing Strategy for Podcast Growth29:27 The Power of “Best” in Marketing and Ratings Psychology31:54 Measuring Billboard Effectiveness via Download Geography34:19 Saturating Small Cities with Ads: A Contagion-Style Growth Idea

Register for the webinar:Licenses & Regulatory Issues in Acquisitions - Thu April 17th - https://bit.ly/4i7vsY5With 300 employees across 5 companies, the holdco that Chris Fredericks is building has an uncommon feature at its core.Topics in Chris's interview:What is an Employee Stock Ownership Program (ESOP)?Finding purpose and meaning at workConcept of dignity at workWhat ESOP employees do and don't vote onUsing an internal podcast to communicate about employee ownershipMitigating risks in ESOPsEmployee reactions to being acquiredSelling employees on the ESOP conceptHis role as investor, not operatorKeeping a bad hire for too longReferences and how to contact Chris:LinkedInEmpowered VenturesThe Empowered Owners PodcastThe Great Game of BusinessGet $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:https://www.malaunchpad.com & enter code ACQUIRINGMINDSDownload the New CEO's Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you're a searcherConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

HoldCo Bros are back! In this episode, Nik and I talk about the exciting advancements of ChatGPT 4.0 image generation, highlighting its ability to now edit pictures and create incredibly realistic AI images. We brainstormed potential business ideas leveraging this new technology, then we discussed the fundamentals of business success, where Nik introduced his framework emphasizing competitive advantage within idea and execution (grit, distribution, fulfillment, knowledge). We debated the significance of a strong market versus having a unique edge and explored the concept of a barbell strategy, focusing on either full AI or completely no-tech ventures. Finally, we discussed the growing trend of rucking and identified several potential business opportunities in that space. Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 The Rise of Image Generation Technology02:59 Ashton Hall: The Viral Sensation05:52 The Future of NFTs and Image Attribution08:46 Innovative Business Ideas in Image Generation12:05 The Importance of Competitive Advantage in Entrepreneurship15:00 Navigating the Path to Entrepreneurship17:56 The Barbell Strategy: AI vs. No AI20:52 Learning vs. Doing: The Entrepreneurial Dilemma24:12 Rucking: A New Trend in Fitness27:07 The Power of Community and Influencer Marketing

How to Build a Billion Dollar Holdco (Jordan Ross Solo & FAQs)

Creative agency procurement expert Tina Fegent explains how her process helps CMOs navigate their marketplace and get the right solution and the best value.   We discuss the power of independent agencies and how they can compete against the big HoldCo agency networks.   Why diversity is an agency superpower, how to increase the odds of getting on the short list, the importance of creativity, how procurement solves business problems, agency remuneration models, whether public sector work is worth chasing and the efficiencies of artificial intelligence. Tina's LinkedIn profile here: https://www.linkedin.com/in/tina-fegent-fcips-2103573/ Tina Fegent Limited: https://tinafegent.com/ Tina Tells – latest edition: https://www.linkedin.com/feed/update urn:li:activity:7311144893765087233/ Learn more about your ad choices. Visit megaphone.fm/adchoices

HoldCo Bros are back! In this episode, Nik and I explore the idea of launching an AI implementation agency to help businesses effectively navigate AI tools. We also dive into the concept of using wearable devices, like the Limitless pendant, for automated medical documentation, potentially replacing scribes. Additionally, we brainstorm various different applications for this technology, including sales coaching, enhancing employee productivity, and more.Learn more about Nik here: http://linktr.ee/cofoundersnikCheck out the Limitless pendant: Limitless PendantShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Embracing Entrepreneurship and AI02:58 The Role of AI in Healthcare05:47 Innovative Applications of AI Technology09:10 Transforming Sales with AI12:03 Leveraging AI for Personal Development14:56 Deep Research and Its Implications17:48 The Future of AI in Business

HoldCo Bros are back! In this episode, Nik and I talk about the latest in AI and some unique business ideas. We begin by comparing ChatGPT and Perplexity, highlighting the strengths of Perplexity's deep research function. Our conversation touches on our experiences with custom GPTs and the power of using AI for identifying emerging trends. We also discuss the current reality of AI agents versus more traditional RPA. Later, we explore the idea of leveraging AI to create forward-looking industry reports, a concept brought up by Zach Ashburn. Finally, Nik shares the incredible entrepreneurial journey of Ethan Kohan, from the world of gambling to the unexpected success of vending machines on college campuses.Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 The Rise of AI and Research Tools02:56 Custom GPTs and Their Applications05:50 Deep Research and Market Trends08:48 Exploring Unique Business Ideas12:07 The Evolution of Agents in AI15:07 Predicting Future Trends with AI18:01 Innovative Business Models and Side Hustles

As the newly appointed president of Horizon Media Holdings, Bob Lord is dubious that megamergers between holding companies are actually good for the client. “Bigger is not always better,” Lord says.

Host: Paul McIntyre | Executive Editor Media agency holding company CEOs are openly acknowledging the importance of arbitrage-based principal trading to their business models – and it’s spreading rapidly out of digital display into TV, audio, digital out of home, connected TVs and beyond. Former UM Global Chief Media Officer Joshua Lowcock, who left the IPG-owned media agency network last year to head up media at US group Quad, is bleak on the distorting market effects of holding companies buying media for themselves and on-selling to advertiser clients with handsome mark-ups - often in ‘bundled’ products which blend a small quota of quality inventory with the tonnage more in low value, low quality ad placements. “Both agencies and clients have built themselves a prison that they can't get out of,” says Lowcock. And agencies resisting principal models are increasingly disadvantaged – they risk being dragged into “financial engineering” too. Per Lowcock, “somewhere in the myriad of complexity of a holding company, I can tell you it's occurring and a large armoured vehicle with boatloads of cash is pulling up somewhere and unloading it into a holding company … well, it's probably more electronically transferred.” Should anyone care that agencies are finding ways to make money that procurement-driven clients are in effect incentivising by refusing to pay fees for service – especially if the media bought and on-sold arguably does the job? “It's not doing the job because clients are not getting the media that they should be getting to drive the ultimate business performance,” Lowcock argues. "They’re getting the media that drives the agency's bottom line,” per Lowcock. He describes it as a nutritionist advising a diet of “junk food”, with clients at risk of morbid obesity. Indy shop Media by Mother, headed by former GroupM exec Dave Gaines, says he doesn’t do principal media deals or arbitrage but “it’s surprisingly hard to get people to align on business success outcomes” versus the short-term allure of trading off not paying media agency fees for the hidden costs in mark-ups and tech and data fees typically wrapped into principal media agreements. Moreover, Gaines says retail media is making the situation worse with retailers becoming media owners and seeking their own preferential deals. While traditional media owners complain about principal media trading eating their margin and agency mark-ups making them appear expensive, Gaines says the truth is, “a lot of the big TV networks don't like to have to deal directly with clients. They're happy to offload a lot of this media inventory because then they haven't got to worry about selling it”. Either way, few owners will complain publicly for fear of retribution, i.e. being cut out of group spend, per Nick Manning, non-executive chairman of Media Marketing Compliance and adviser to peak US advertiser body the ANA. Manning sees principal media’s rise leading holdcos to becoming just the same as the walled gardens whose business models they are trying to emulate. “They're all building AI tools that will do creative production, media distribution and analytics together in one in one box. It will be a black box, and clients won't be able to tell a lot about what's going on in there, but it will be an arbitrage-led model.” Quad’s Lowcock says he’s happy to tell any finance, procurement, marketing, legal and internal auditing department “all the answers” as to what goes on and how to fix it – and does just that in this podcast.See omnystudio.com/listener for privacy information.

HoldCo Bros are back! In this episode, Nik and I, Chris, talk about the power of the middleman business model as a great way to start a low-risk business today. We discuss the core idea of connecting buyers and sellers without dealing with inventory or providing services directly. I share the concept of a "Never Touch Plastic" marketplace, similar to Etsy, but focused on environmentally conscious consumers. We also talk about building an affiliate marketing website for plastic-free products. We also discuss how the United States Postal Service represents a government-subsidized marketing method that entrepreneurs can leverage for cost-effective outreach.Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Government Subsidies and Marketing Channels02:59 Innovative Business Ideas and Trends05:52 Sourdough Starter and Microplastics08:48 Leveraging the Postal Service for Business12:09 Customer Acquisition Cost and Marketing Strategies15:04 Monetizing Government Distribution Channels17:58 Driving for Dollars and Real Estate Opportunities20:51 AI and Survey Data Monetization24:02 Plasma Transfusion and Health Innovations

HoldCo Bros are back! In this episode, Nik and I talk about the initial stages of starting a business and why founders are so important early on. Nik shares his thoughts on how to grow your business by gradually giving up tasks, always keeping the most important things for yourself . We also discuss some interesting business ideas, like renting out Cybertrucks. This leads to a conversation about creative marketing, specifically using Airdrop in unique ways at different events. Later in the episode, we touch on Bitcoin, the mystery of its creator Satoshi Nakamoto, and the surprising theory suggesting it might be a well-known entrepreneur.Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:30 Founders' Challenges00:56 The Framework for Business Growth02:26 Phases of Business Development03:08 Avoiding Common Pitfalls04:56 The Elon Musk Example08:40 Optimizing for Quality of Life09:14 Innovative Business Ideas12:15 Airdrop Marketing Strategies18:55 Creative Marketing Strategies20:14 Brainstorming Unique Ideas21:09 Airdropping at Conferences22:34 The Value of High-Ticket Offers23:40 Unveiling Satoshi Nakamoto25:19 Bitcoin's Mysterious Origins27:21 The Hidden Genius?32:20 The Future of Bitcoin

This fencing company in Albuquerque is a hidden gem—high cash flow, no marketing, and massive growth potential.Business Listing - https://www.bizbuysell.com/Business-Opportunity/highly-reputable-and-profitable-fence-and-gate-company/2232872/

This fencing company in Albuquerque is a hidden gem—high cash flow, no marketing, and massive growth potential.Business Listing - https://www.bizbuysell.com/Business-Opportunity/highly-reputable-and-profitable-fence-and-gate-company/2232872/

A wildlife removal franchise doing $1.8M in cash flow? We break down this unique franchise opportunity and whether it's a smart buy.Business Listing - https://www.bizbuysell.com/Business-Opportunity/wildlife-removal-franchise-with-corporate-and-royalty-income/2221496/

HoldCo Bros are back! In this episode, we feature Tyler, a listener who acted on our B2B stump grinding idea after hearing it on a previous episode, which led him to quit his 9-to-5 job. Tyler shares how he followed our advice word-for-word, testing the concept in Boise before launching in Provo. By implementing our strategies, he achieved impressive results, with $23,000 in September alone. He provides key insights into building relationships with tree trimming companies, his pricing strategy, and cold outreach techniques and more.Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:37 Tyler's Journey: From B2B Sales to Stump Grinding01:13 The Initial Spark: Discovering Stump Grinding01:41 Building the Business: Early Challenges and Successes02:27 The B2B Sales Connection04:41 Testing the Market: Boise vs. Provo06:03 First Jobs and Early Experiences12:05 Overcoming Hurdles: Mistakes and Lessons Learned15:11 Revenue Growth and Scaling the Business17:45 Financing the Stump Grinder18:40 Monthly Earnings Breakdown20:05 Building Business Relationships21:46 Pricing and Payment Structure23:22 Marketing Strategies29:03 Future Business Prospects32:18 Conclusion and Final Thoughts

A wildlife removal franchise doing $1.8M in cash flow? We break down this unique franchise opportunity and whether it's a smart buy.Business Listing - https://www.bizbuysell.com/Business-Opportunity/wildlife-removal-franchise-with-corporate-and-royalty-income/2221496/

HoldCo Bros are back! In this episode, Nik and I talk about GPT Operator, Nik shares his insights on preparing for AI agents with standard operating procedures, treating them like new employees. I recount building a tool with Replit for a friend, potentially adding seven figures in value. I also share insights from spending seven hours with a West Texas oil billionaire, emphasizing long-term thinking and valuing the thought process over correct answers. Learn more about Nik here: http://linktr.ee/cofoundersnikLinks and Resources:https://replit.com https://www.cursor.com Share your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Introduction to Operator Usage01:27 Experimenting with Multiple AI Tools04:44 Preparing for AI Agents08:04 Building a High-Value AI Tool13:56 Insights from a Billionaire17:18 The Shared Office Dynamic17:59 Overqualified Team Members18:38 Engaging and Direct Leadership19:50 First Impressions and Office Culture22:12 Action-Oriented Decision Making23:36 Open Communication and Transparency27:34 Long-Term Vision and Thinking29:07 Validating Through Thought Processes32:35 Encouraging Action and Sharing33:37 Different Paths to Success

Register for the webinar:5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/435spfeBarker Squire has grown his crane servicing business gradually over 6 years. Now he turns his attention to what's next.Topics in Barker's interview:Leading teams in the Marine CorpsGetting a conventional loan instead of SBAKeeping his ears open in seller meetingsPros and cons of government contractsEmployees walking outStaying safe in a dangerous jobThe owner staying as an employeeGrowing revenue 3x in 6 yearsHis vision to build a holdcoPromoting an employee to CEOReferences and how to contact Barker:LinkedInBarker's album on Spotify Craneworks, Inc.John GilsonGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsDownload the New CEO's Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

HoldCo Bros are back! In this episode, Nik and I kick things off with a funny story about going to Raisin Canes while wearing a "Think You Should Leave" t-shirt. Then we talk about the booming Med Spa market, which is really driven by millennials who are both vain and obsessed with their health. Nik and I then discuss how there's potential in integrating Med Spas with golf courses and other membership-based businesses. I share my idea of starting a sauna/cold plunge business inside a gym or country club. Then we shift gears to AI agents, and discuss how to leverage them for market research and identifying new opportunities, and also how to extract insights from interviews. We wrap things up by talking about OpenAI's new tools, which are GPT Operator and Deep Research, weighing both the pros and the cons for different business applications.Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:33 Family Outing at Raisin Cane's01:07 The Iconic '55 Burgers' Shirt03:11 Med Spas and Their Growing Popularity04:50 Med Spas in Golf Courses: A New Trend?06:25 Revenue Models and Business Strategies10:24 Cold Plunge and Sauna Business Ideas16:17 Leveraging AI for Business Success23:40 Practical Tips for Entrepreneurs26:54 Unveiling Deep Research Capabilities28:16 Exploring Chris Crone's Profile with Deep Research29:26 Deep Research: Asking the Right Questions30:46 Maximizing Deep Research on a Budget31:58 Introducing GPT Operator and Deep Research33:36 Impact on Industry Reports and Market Analysis36:07 Challenges and Limitations of GPT Operator39:20 The Future of AI and Self-Driving Technology43:57 Deep Research: Pros and Cons47:17 Practical Applications and Early Adoption

A dental lab that serves Hollywood celebrities and an NFL team?!Business Listing - https://gottesman-company.com/active_sellers/s-3173-4-jpm/

A dental lab that serves Hollywood celebrities and an NFL team?!Business Listing - https://gottesman-company.com/active_sellers/s-3173-4-jpm/

HoldCo Bros are back! In this episode, Nik and I discuss the world of controversial self-help gurus, specifically focusing on Dan Pena. We dissect Pena's background, from his early days in Florida to his claims of a massive oil empire and his now infamous $30,000 mastermind seminars. We analyze his aggressive persona and tactics, while trying to understand what makes him successful. We question the real value of his teachings, including his QLA principles, and if his advice is actually useful or just pure motivational hype. We also discuss the difference between gurus that just motivate you versus the ones that have a concrete business plan. Finally, we explore how AI is changing things and whether businesses can be created to protect consumers from all the spam that is going to come with the new technology.Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Introduction to Controversial Gurus00:58 Meet Dan Pena: The Trillion Dollar Man02:09 Dan Pena's Predictions and Background03:59 Dan Pena's Business Ventures08:32 The QLA Principles Unveiled12:55 A Personal Encounter with Dan Pena's Team17:32 Unshakable Belief in Entrepreneurship18:18 The Fyre Fest and WeWork Examples19:33 Alex Hormozi's Tactical Approach20:14 Sales Gurus and Their Strategies21:38 Dan Pena's Podcast Invitation24:36 AI and the Future of Outbound Marketing26:53 AI Tools and Consumer Defense35:15 PhD-Level Autonomous Agents36:45 Productizing AI Prompts39:20 Exploring Custom GPTs40:12 Conclusion and Final Thoughts

HoldCo Bros are back! In this episode, Nik and I discuss the world of sales and unexpectedly profitable business models, such as pest control, a field I have personal experience in. We examine how high incomes can be achieved through door-to-door sales, as well as the financial dynamics of the pest control industry. We also discuss the compensation structure of sales crews and the potential of renting out specialized licenses. We explore the idea of pest control as a convenience service rather than a necessity, and share the story of an entrepreneur who achieved remarkable success with a Christmas lighting business.Learn more about Nik here: http://linktr.ee/cofoundersnikShare your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Introduction and Personal Anecdotes03:37 The Economics of Pest Control06:46 Insights on Sales Ethics and Practices11:38 Personal Experiences in Pest Control15:16 Questioning the Effectiveness of Pest Control16:08 Revelation: Pest Control is a Scam17:00 The Convenience Business Model18:15 Success Story: Christmas Lighting Business23:39 Entrepreneurial Spectrum: Different Approaches25:55 Learning from Mistakes: The Importance of Knowledge

HoldCo Bros are back! This episode, Nik and I explore how AI is changing the world and talk about cool AI business ideas. We talk about digital detox, po*nography addiction, and phone addiction - real issues that also present business opportunities. We cover creating info products and selling AI prompts on platforms like PromptBase.com, showing how a simple prompt can serve as the foundation for an entire business, including a SaaS product. We also discuss how prompts are becoming the new SEO and how AI wrappers can simplify complex tools. Lastly, we introduce the concept of a tool that helps entrepreneurs find business ideas by analyzing their data and personal experiences. Learn more about Nik here: http://linktr.ee/cofoundersnikLinks and Resources:https://promptbase.com - Buy and sell prompts for AI tools.https://replit.com - Make a chatbot.https://www.cursor.com - Tool that helps you coding and creating apps.Share your ideas with us:Nik@cofounders.comChris@cofounders.comTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Exploring Business Opportunities in AI02:51 Digital Addiction and Its Impact06:08 The Role of po*nography in Modern Society09:00 Creating Retreats for Digital Detox11:54 Leveraging AI for Business Ideas14:50 The Power of Prompts in AI18:14 Building SaaS Products from Prompts21:04 Understanding the Concept of Wrappers23:57 Real-World Applications of AI in Business26:46 Accountability and Idea Validation with AI

From $0 to millions: learn from Nikolas Hulewsky's success in business growth, core values, and leveraging content to connect and inspire.$3M, $7M, $11M. These numbers tell a story, but they're not the whole story. My friend Nikolas Hulewsky has built and sold multimillion-dollar businesses by combining strategy, grit, and an ability to stay focused on what truly matters. What makes his journey even more inspiring for me is how thoughtful he is about balancing growth with purpose. If you've ever wondered how to scale smarter while staying true to your goals, this episode is for you.Nikolas's story isn't just about growing numbers; it's about building systems, defining purpose, and making the leap from being hands-on in the early stages to operating with strategy and intention.In this episode, he shares:How he used an SBA loan to purchase a billing company doing $7M in revenueThe strategies he used to grow a hospice business from zero to $12M in under two years.Why defining core values early is critical for aligning teams and scaling successfully.How content creation became a powerful tool for building trust and attracting high-value opportunities.The mindset shifts needed to balance ambition with life's bigger goals, like family and personal freedom.From SBA to HoldCo SuccessNik began his entrepreneurial career by acquiring a $3.2M medical billing company with an SBA loan, scaling its EBITDA from $400K to $1.2M in just two years before selling it for $7M. Not stopping there, he started a hospice company from scratch, growing it to $11M in revenue in less than two years. Along the way, he launched a tree-trimming business, partnered on a $10M crypto mining venture, and invested in multiple other businesses.Now, as the operator of a HoldCo with his partner, Chris Koerner, Nik focuses on creating value-driven investments that align with his vision for sustainable growth. His path proves that success isn't just about scaling fast—it's about scaling smart.Key Insights:You are the business. If your business is under $5M, you are the business. Be involved in every detail - it's how you learn what works and what doesn't. Scaling can come later once you've built a solid foundation.Core values drive success. Your values are the heartbeat of your business. They guide your decisions, shape your culture, and help you grow with purpose as it's what keeps your team and vision aligned.Content creates opportunity. Posting online isn't just about likes. It's about building trust, creating connections, and opening doors. Share what you're learning and doing and before you know it, people who resonate with your story will find you.Define success on your terms. Success isn't one-size-fits-all. Whether you want $10K a month or $100M, define what matters to you. When you know your “why,” it's easier to make the right decisions.Small steps matter. Don't overcomplicate it. Don't overcomplicate things. Focus on the next actionable step, get it done, and adapt as you go. Progress beats perfection every time.Ready to Take Your Business to the Next Level?This episode reminded me of something every entrepreneur needs to hear: you don't have to do it all. Success comes from focusing on the right things and creating systems that work for you - not against you. I help entrepreneurs turn chaos into clarity with strategies like these:Simplify Systems: Cut out inefficiencies and save yourself time.Plan for Impact: Build a roadmap that aligns with your goals and scales sustainably.Gain Clarity: Align your business and personal finances for confident decision-making.Let's turn your challenges into opportunities—schedule a free 15-minute consultation today!Nikolas's best advice for entrepreneurs:“First-time founders focus on products, second-time founders focus on distribution.”Connect with Nikolas Hulewsky:XLinkedInYouTubeWebsiteFollow Beyond 8 Figures:LinkedInXWebsite

This episode features Travis Jameson of Capital Pad, discussing how to unlock value in small businesses with growth potential.Sponsored by:Acquisition Lab: Start your business acquisition journey with the premier resource for searchers. Learn more at https://www.acquisitionlab.com/HoldCo Conference: Join the ultimate event for HoldCo operators and entrepreneurs. Get your ticket at https://www.holdcoconference.com/In this episode, we analyze an innovative craft products business with $4.57M in revenue and $281K in EBITDA. Travis shares his expertise on structuring deals, improving operations, and finding hidden growth potential in overlooked small businesses. The group discusses scaling opportunities like Amazon integration, reducing overhead, and solving cash flow challenges for higher returns. If you've ever wondered how to turn under-optimized businesses into goldmines, this episode is a must-listen!Key Highlights:- Travis Jameson's journey from entrepreneur to small business investor.- How Capital Pad bridges the gap between investors and searchers.- Analyzing a craft products business: opportunities and risks.- Scaling through Amazon and outsourcing logistics to 3PL providers.- Tackling customer concentration and maximizing margins.- Structuring deals with SBA loans, seller notes, and earnouts.- Identifying businesses ripe for transformation and growth.Subscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at contact@acquanon.com

HoldCo Bros are back! In this episode, Nik and I are diving into marketing with a look at the "OG" internet marketing guru, Frank Kern. We talk about his 8-step sales process, from overwhelming with value to creating scarcity, and explore how these methods remain relevant in the AI age. We also talk about how to reverse engineer successful marketing funnels and the importance of copying what works, adapting it to your unique experiences, and how Frank Kern learned from the likes of Gary Halbert and Claude Hopkins. Finally, we discuss two AI investment strategies - the "cigarette butt" approach and a long-term view focusing on human interaction and authenticity, while also discussing the concept of rebundling and how what's old becomes new again. Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 The Origins of Internet Marketing and Frank Kern10:10 Frank Kern's Eight-Step Selling Process19:58 The Importance of Scarcity in Marketing30:10 Investment Strategies in the Age of AI

This episode features Travis Jameson of Capital Pad, discussing how to unlock value in small businesses with growth potential.Sponsored by:Acquisition Lab: Start your business acquisition journey with the premier resource for searchers. Learn more at https://www.acquisitionlab.com/HoldCo Conference: Join the ultimate event for HoldCo operators and entrepreneurs. Get your ticket at https://www.holdcoconference.com/In this episode, we analyze an innovative craft products business with $4.57M in revenue and $281K in EBITDA. Travis shares his expertise on structuring deals, improving operations, and finding hidden growth potential in overlooked small businesses. The group discusses scaling opportunities like Amazon integration, reducing overhead, and solving cash flow challenges for higher returns. If you've ever wondered how to turn under-optimized businesses into goldmines, this episode is a must-listen!Key Highlights:- Travis Jameson's journey from entrepreneur to small business investor.- How Capital Pad bridges the gap between investors and searchers.- Analyzing a craft products business: opportunities and risks.- Scaling through Amazon and outsourcing logistics to 3PL providers.- Tackling customer concentration and maximizing margins.- Structuring deals with SBA loans, seller notes, and earnouts.- Identifying businesses ripe for transformation and growth.Subscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at contact@acquanon.com

Register for the webinar:  •Is It a Fair Multiple? The Art of Making Your Offer - Wed Jan 22 - https://bit.ly/4asGoxwAfter buying then exiting a 12-unit franchise portfolio, Alicia Miller became expert on how to attract private equity.Topics in Abhi's interview:Going from BCG partner to small business buyerStarting a holdco with 3 friendsTheir primary and secondary partner modelSetting up contingency plans in their operating agreementGoal of spending more time with familyNot taking on investorsQuickly learning about potential industriesClosing on a pool business in 6 weeks4 add-ons in 18 monthsAcquiring 2 ShelfGenie franchise locationsReferences and how to contact Abhi:LinkedInTwitterMarc Nzojibwami's episode: The Model for a 3-way Longterm HoldcoGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

HoldCo Bros are back! In this episode, Nik and I are discussing "IGenius," a segment where we analyze business ideas found on Instagram, focusing on how to turn viral trends into real-world opportunities. We brainstormed various ideas, including experiential businesses, such as a coffee shop with a sandbox, a kids' play area with a high-end parent area, and a live fish vending machine. We also explored mobile businesses like a mobile bookstore, and the importance of being "indistractable" in the physical world. Additionally, we considered unique product businesses such as a wart removal kit, and the business potential of the microplastics trend. We also discussed frameworks for creating businesses that capture attention, and ways to make it harder for parents to say no to their kids when making purchases.Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Introduction to the New Episode Format00:55 Evaluating Instagram Business Ideas01:36 Sandbox Coffee Shop Concept03:32 Experiential Business Models08:46 Cold Wet Socks Therapy10:46 Marketing and Monetizing Simple Ideas16:33 Micro Peas and Immaturity16:38 Live Fish Vending Machine19:07 Business Ideas for Kids22:14 Mobile Bookstore Concept27:00 Jerry Springer and Attention Economy31:46 Parenting and Technology

1UNITED STATES BANKRUPTCY COURTSOUTHERN DISTRICT OF TEXASHOUSTON DIVISIONIn re:INTRUM AB, et al.,1Debtors.Chapter 11Case No. 24-90575 (CML)(Jointly Administered)NOTICE OF APPEALPursuant to 28 U.S.C. § 158(a) and Federal Rules of Bankruptcy Procedure 8002 and 8003,notice is hereby given that the Ad Hoc Committee of holders of 2025 notes issued by Intrum AB(the “AHC”) hereby appeals to the United States District Court for the Southern District of Texasfrom (i) the Order Denying Motion of the Ad Hoc Committee of Holders of Intrum AB Notes Due2025 to Dismiss Chapter 11 Cases Pursuant to 11 U.S.C. § 1112(b) and Federal Rule ofBankruptcy Procedure 1017(f)(1) (ECF No. 262) (the “Motion to Dismiss Order”) and (ii) theOrder (I) Approving Disclosure Statement and (II) Confirming Joint Prepackaged Chapter 11Plan of Intrum AB and Its Affiliated Debtor (Further Technical Modifications) (ECF No. 263) (the“Confirmation Order”). A copy of the Motion to Dismiss Order is attached as Exhibit A and acopy of the Confirmation Order is attached as Exhibit B. Additionally, the transcript of theBankruptcy Court's oral ruling accompanying the Motion to Dismiss Order and ConfirmationOrder (ECF No. 275) is attached as Exhibit C.Below are the names of all parties to this appeal and their respective counsel:1 The Debtors in these Chapter 11 Cases are Intrum AB and Intrum AB of Texas LLC. The Debtors'service address in these Chapter 11 Cases is 801 Travis Street, Ste 2101, #1312, Houston, TX 77002.Case 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 1 of 62I. APPELLANTA. Name of Appellant:The members of the AHC include:Boundary Creek Master Fund LP; CF INT Holdings Designated Activity Company; CaiusCapital Master Fund; Diameter Master Fund LP; Diameter Dislocation Master Fund II LP; FirTree Credit Opportunity Master Fund, LP; MAP 204 Segregated Portfolio, a segregated portfolioof LMA SPC; Star V Partners LLC; and TQ Master Fund LP.Attorneys for the AHC:QUINN EMANUEL URQUHART & SULLIVAN, LLPChristopher D. Porter (SBN 24070437)Joanna D. Caytas (SBN 24127230)Melanie A. Guzman (SBN 24117175)Cameron M. Kelly (SBN 24120936)700 Louisiana Street, Suite 3900Houston, TX 77002Telephone: (713) 221-7000Facsimile: (713) 221-7100Email: chrisporter@quinnemanuel.comjoannacaytas@quinnemanuel.commelanieguzman@quinnemanuel.comcameronkelly@quinnemanuel.com-and-Benjamin I. Finestone (admitted pro hac vice)Sascha N. Rand (admitted pro hac vice)Katherine A. Scherling (admitted pro hac vice)295 5th AvenueNew York, New York 10016Telephone: (212) 849-7000Facsimile: (212) 849-7100Email: benjaminfinestone@quinnemanuel.comsascharand@quinnemanuel.comkatescherling@quinnemanuel.comB. Positions of appellant in the adversary proceeding or bankruptcy case that isthe subject of this appeal:CreditorsCase 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 2 of 63II. THE SUBJECT OF THIS APPEALA. Judgment, order, or decree appealed from:The Order Denying Motion of the Ad Hoc Committee of Holders of Intrum AB Notes Due2025 to Dismiss Chapter 11 Cases Pursuant to 11 U.S.C. § 1112(b) and Federal Rule ofBankruptcy Procedure 1017(f)(1) (ECF No. 262); the Order (I) Approving Disclosure Statementand (II) Confirming Joint Prepackaged Chapter 11 Plan of Intrum AB and Its Affiliated Debtor(Further Technical Modifications) (ECF No. 263); and the December 31, 2024 Transcript of OralRuling Before the Honorable Christopher M. Lopez United States Bankruptcy Court Judge (ECFNo. 275).B. The date on which the judgment, order, or decree was entered:The Motion to Dismiss Order and the Confirmation Order were entered on December 31,2024. The Court issued its oral ruling accompanying the Motion to Dismiss Order and theConfirmation Order on December 31, 2024.III. OTHER PARTIES TO THIS APPEALIntrum AB and Intrum AB of Texas LLCMILBANK LLPDennis F. Dunne (admitted pro hac vice)Jaimie Fedell (admitted pro hac vice)55 Hudson YardsNew York, NY 10001Telephone: (212) 530-5000Facsimile: (212) 530-5219Email: ddunne@milbank.comjfedell@milbank.com–and–Andrew M. Leblanc (admitted pro hac vice)Melanie Westover Yanez (admitted pro hac vice)1850 K Street, NW, Suite 1100Washington, DC 20006Telephone: (202) 835-7500Facsimile: (202) 263-7586Email: aleblanc@milbank.commwyanez@milbank.com–and–PORTER HEDGES LLPJohn F. Higgins (SBN 09597500)Case 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 3 of 64Eric D. Wade (SBN 00794802)M. Shane Johnson (SBN 24083263)1000 Main Street, 36th FloorHouston TX 77002Telephone: (713) 226-6000Facsimile: (713) 226-6248Email: jhiggins@porterhedges.comewade@porterhedges.comsjohnson@porterhedges.comIV. OTHER PARTIES THAT MAY HAVE AN INTEREST IN THIS APPEALThe following chart lists certain parties that are not parties to this appeal, but that may havean interest in the outcome of the case. These parties should be served with notice of this appealby the Debtors who are aware of their identities and best positioned to provide notice.All Other Creditors of the Debtors, Including, But Not Limited To:• Certain funds and accounts managed by BlackRock Investment Management (UK)Limited or its affiliates;• Capital Four;• Davidson Kempner European Partners, LLP;• Intermediate Capital Managers Limited;• Mandatum Asset Management Ltd;• H.I.G. Capital, LLC;• Spiltan Hograntefond; Spiltan Rantefond Sverige; and Spiltan Aktiefond Stabil;• The RCF SteerCo Group;• Swedbank AB (publ).Any Holder of Stock of the Debtors• Any holder of stock of the Debtors, including their successors and assigns.Case 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 4 of 65Respectfully submitted this 13th day of January, 2025.QUINN EMANUEL URQUHART &SULLIVAN, LLP/s/ Christopher D. PorterChristopher D. Porter (SBN 24070437)Joanna D. Caytas (SBN 24127230)Melanie A. Guzman (SBN 24117175)Cameron M. Kelly (SBN 24120936)700 Louisiana Street, Suite 3900Houston, TX 77002Telephone: (713) 221-7000Facsimile: (713) 221-7100Email: chrisporter@quinnemanuel.comjoannacaytas@quinnemanuel.commelanieguzman@quinnemanuel.comcameronkelly@quinnemanuel.com-and-Benjamin I. Finestone (admitted pro hac vice)Sascha N. Rand (admitted pro hac vice)Katherine A. Scherling (admitted pro hac vice)295 5th AvenueNew York, New York 10016Telephone: (212) 849-7000Facsimile: (212) 849-7100Email: benjaminfinestone@quinnemanuel.comsascharand@quinnemanuel.comkatescherling@quinnemanuel.comCOUNSEL FOR THE AD HOC COMMITTEE OFINTRUM AB 2025 NOTEHOLDERSCase 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 5 of 6CERTIFICATE OF SERVICEI, Christopher D. Porter, hereby certify that on the 13th day of January, 2025, a copy ofthe foregoing document has been served via the Electronic Case Filing System for the UnitedStates Bankruptcy Court for the Southern District of Texas./s/ Christopher D. PorterBy: Christopher D. PorterCase 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 6 of 6EXHIBIT ACase 24-90575 Document 296-1 Filed in TXSB on 01/13/25 Page 1 of 31IN THE UNITED STATES BANKRUPTCY COURTFOR THE SOUTHERN DISTRICT OF TEXASHOUSTON DIVISION)In re: ) Chapter 11)Intrum AB, et al.,1 ) Case No. 24-90575 (CML)))Jointly AdministeredDebtors. ))ORDER DENYING MOTION OF THE AD HOCCOMMITTEE OF HOLDERS OF INTRUM AB NOTES DUE 2025TO DISMISS CHAPTER 11 CASES PURSUANT TO 11 U.S.C. § 1112(B) ANDFEDERAL RULE OF BANKRUPTCY PROCEDURE 1017(F)(1)(Related to Docket No. 27)This matter, having come before the Court upon the Motion of the Ad Hoc Committee ofHolders of Intrum AB Notes Due 2025 to Dismiss Chapter 11 Cases Pursuant to 11 U.S.C. §1112(b) and Federal Rule of Bankruptcy Procedure 1017(f)(1) [Docket No. 27] (the “Motion toDismiss”); and this Court having considered the Debtors' Objection to the Motion of the Ad HocCommittee of Holders of Intrum AB Notes Due 2025 to Dismiss Chapter 11 Cases Pursuant to 11U.S.C. § 1112(b) and Federal Rule of Bankruptcy Procedure 1017(f)(1) (the “Objection”) andany other responses or objections to the Motion to Dismiss; and this Court having jurisdiction overthis matter pursuant to 28 U.S.C. § 1334 and the Amended Standing Order; and this Court havingfound that this is a core proceeding pursuant to 28 U.S.C. § 157(b)(2); and this Court having foundthat it may enter a final order consistent with Article III of the United States Constitution; and thisCourt having found that the relief requested in the Objection is in the best interests of the Debtors'1 The Debtors in these Chapter 11 Cases are Intrum AB and Intrum AB of Texas LLC. The Debtors' serviceaddress in these Chapter 11 Cases is 801 Travis Street, STE 2101, #1312, Houston, TX 77002.United States Bankruptcy CourtSouthern District of TexasENTEREDDecember 31, 2024Nathan Ochsner, ClerkCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29662-1 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 2 o of f2 32estates; and this Court having found that the Debtors' notice of the Objection and opportunity fora hearing on the Motion to Dismiss and Objection were appropriate and no other notice need beprovided; and this Court having reviewed the Motion to Dismiss and Objection and havingheard the statements in support of the relief requested therein at a hearing before this Court; andthis Court having determined that the legal and factual bases set forth in the Objectionestablish just cause for the relief granted herein; and upon all of the proceedings had beforethis Court; and after due deliberation and sufficient cause appearing therefor, it is HEREBYORDERED THAT:1. The Motion to Dismiss is Denied for the reasons stated at the December 31, 2024 hearing.2. This Court retains exclusive jurisdiction and exclusive venue with respect to allmatters arising from or related to the implementation, interpretation, and enforcement of this Order.DAeucegmubste 0r 23,1 2, 0210294CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29662-1 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 3 o of f2 3EXHIBIT BCase 24-90575 Document 296-2 Filed in TXSB on 01/13/25 Page 1 of 135IN THE UNITED STATES BANKRUPTCY COURTFOR THE SOUTHERN DISTRICT OF TEXASHOUSTON DIVISION)In re: ) Chapter 11)Intrum AB et al.,1 ) Case No. 24-90575 (CML)))(Jointly Administered)Debtors. ))ORDER (I) APPROVINGDISCLOSURE STATEMENT AND(II) CONFIRMING JOINT PREPACKAGED CHAPTER 11PLAN OF INTRUM AB AND ITS AFFILIATEDDEBTOR (FURTHER TECHNICAL MODIFICATIONS)The above-captioned debtors and debtors in possession (collectively, the“Debtors”), having:a. entered into that certain Lock-Up Agreement, dated as of July 10, 2024 (asamended and restated on August 15, 2024, and as further modified,supplemented, or otherwise amended from time to time in accordance with itsterms, the “the Lock-Up Agreement”) and that certain Backstop Agreement,dated as of July 10, 2024, (as amended and restated on November 15, 2024 andas further modified, supplemented, or otherwise amended from time to time inaccordance with its terms), setting out the terms of the backstop commitmentsprovided by the Backstop Providers to backstop the entirety of the issuance ofNew Money Notes (as may be further amended, restated, amended and restated,modified or supplemented from time to time in accordance with the termsthereof, the “Backstop Agreement”) which set forth the terms of a consensualfinancial restructuring of the Debtors;b. commenced, on October 17, 2024, a prepetition solicitation (the “Solicitation”)of votes on the Joint Prepackaged Chapter 11 Plan of Reorganization of IntrumAB and its Debtor Affiliate Pursuant to Chapter 11 of the Bankruptcy Code (asthe same may be further amended, modified and supplemented from time totime, the “Plan”), by causing the transmittal, through their solicitation andballoting agent, Kroll Restructuring Administration LLC (“Kroll”), to theholders of Claims entitled to vote on the Plan of, among other things: (i) the1 The Debtors in these chapter 11 cases are Intrum AB and Intrum AB of Texas LLC. The Debtors' serviceaddress in these chapter 11 cases is 801 Travis Street, STE 2102, #1312, Houston, TX 77002.United States Bankruptcy CourtSouthern District of TexasENTEREDDecember 31, 2024Nathan Ochsner, ClerkCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 2 o of f1 133452Plan, (ii) the Disclosure Statement for Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate (as the same may befurther amended, modified and supplemented from time to time, the“Disclosure Statement”), and (iii) the Ballots and Master Ballot to vote on thePlan (the “Ballots”), (iv) the Affidavit of Service of Solicitation Materials[Docket No. 7];c. commenced on November 15, 2024 (the “Petition Date”), these chapter 11 cases(these “Chapter 11 Cases”) by filing voluntary petitions in the United StatesBankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”or the “Court”) for relief under chapter 11 of title 11 of the United States Code(the “Bankruptcy Code”);d. Filed on November 15, 2024, the Affidavit of Service of Solicitation Materials[Docket No. 7] (the “Solicitation Affidavit”);e. Filed, on November 16, 2024 the Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate Pursuant to Chapter 11of the Bankruptcy Code (Technical Modifications) [Docket No. 16] and theDisclosure Statement for Joint Prepackaged Chapter 11 Plan of Intrum AB andits Debtor Affiliate [Docket No. 17];f. Filed on November 16, 2024, the Declaration of Andrés Rubio in Support of ofthe Debtors' Chapter 11 Petitions and First Day Motions [Docket No. 14] (the“First Day Declaration”);g. Filed on November 17, 2024, the Declaration of Alex Orchowski of KrollRestructuring Administration LLC Regarding the Solicitation of Votes andTabulation of Ballots Case on the Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate Pursuant to Chapter 11of the Bankruptcy Code [Docket No. 18] (the “Voting Declaration,” andtogether with the Plan, the Disclosure Statement, the Ballots, and theSolicitation Affidavit, the “Solicitation Materials”);h. obtained, on November 19, 2024, the Order(I) Scheduling a Combined Hearingon (A) Adequacy of the Disclosure Statement and (B) Confirmation of the Plan,(II) Approving Solicitation Procedures and Form and Manner of Notice ofCommencement, Combined Hearing, and Objection Deadline, (III) FixingDeadline to Object to Disclosure Statement and Plan, (IV) Conditionally (A)Directing the United States Trustee Not to Convene Section 341 Meeting ofCreditors and (B) Waiving Requirement to File Statements of Financial Affairsand Schedules of Assets and Liabilities, and (V) Granting Related Relief[Docket No. 71] (the “Scheduling Order”), which, among other things: (i)approved the prepetition solicitation and voting procedures, including theConfirmation Schedule (as defined therein); (ii) conditionally approved theDisclosure Statement and its use in the Solicitation; and (iii) scheduled theCombined Hearing on December 16, 2024, at 1:00 p.m. (prevailing CentralCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 3 o of f1 133453Time) to consider the final approval of the Disclosure Statement and theconfirmation of the Plan (the “Combined Hearing”);i. served, through Kroll, on November 20, 2025, on all known holders of Claimsand Interests, the U.S. Trustee and certain other parties in interest, the Noticeof: (I) Commencement of Chapter 11 Bankruptcy Cases; (II) Hearing on theDisclosure Statement and Confirmation of the Plan, and (III) Certain ObjectionDeadlines (the “Combined Hearing Notice”) as evidence by the Affidavit ofService [Docket No. 160];j. caused, on November 25 and 27, 2024, the Combined Hearing Notice to bepublished in the New York Times (national and international editions) and theFinancial Times (international edition), as evidenced by the Certificate ofPublication [Docket No. 148];k. Filed and served, on December 10, 2024, the Plan Supplement for the Debtors'Joint Prepackaged Chapter 11 Plan of Reorganization [Docket 165];l. Filed on December 10, 2024, the Declaration of Jeffrey Kopa in Support ofConfirmation of the Joint Prepackaged Plan of Reorganization of Intrum ABand its Debtor Affiliate Pursuant to Chapter 11 of the Bankruptcy Code [DocketNo. 155];m. Filed on December 14, 2024, the:i. Debtors' Memorandum of Law in Support of an Order: (I) Approving, on aFinal Basis, Adequacy of the Disclosure Statement; (II) Confirming theJoint Prepackaged Plan of Reorganization; and (III) Granting Related Relief[Docket No. 190] (the “Confirmation Brief”);ii. Declaration of Andrés Rubio in Support of Confirmation of the JointPrepackaged Plan of Reorganization of Intrum AB and its Debtor Affiliate.[Docket No. 189] (the “Confirmation Declaration”); andiii. Joint Prepackaged Chapter 11 Plan of Reorganization of Intrum AB and itsDebtor Affiliate Pursuant to Chapter 11 of the Bankruptcy Code (FurtherTechnical Modifications) [Docket No. 191];n. Filed on December 18, 2024, the Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate Pursuant to Chapter 11of the Bankruptcy Code (Further Technical Modifications) [Docket No. 223];CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 3 4 o of f1 133454WHEREAS, the Court having, among other things:a. set December 12, 2024, at 4:00 p.m. (prevailing Central Time) as the deadlinefor Filing objection to the adequacy of the Disclosure Statement and/orConfirmation2 of the Plan (the “Objection Deadline”);b. held, on December 16, 2024 at 1:00 p.m. (prevailing Central Time) [andcontinuing through December 17, 2024], the Combined Hearing;c. heard the statements, arguments, and any objections made at the CombinedHearing;d. reviewed the Disclosure Statement, the Plan, the Ballots, the Plan Supplement,the Confirmation Brief, the Confirmation Declaration, the SolicitationAffidavit, and the Voting Declaration;e. overruled (i) any and all objections to approval of the Disclosure Statement, thePlan, and Confirmation, except as otherwise stated or indicated on the record,and (ii) all statements and reservations of rights not consensually resolved orwithdrawn, unless otherwise indicated; andf. reviewed and taken judicial notice of all the papers and pleadings Filed(including any objections, statement, joinders, reservations of rights and otherresponses), all orders entered, and all evidence proffered or adduced and allarguments made at the hearings held before the Court during the pendency ofthese cases;NOW, THEREFORE, it appearing to the Bankruptcy Court that notice of theCombined Hearing and the opportunity for any party in interest to object to the DisclosureStatement and the Plan having been adequate and appropriate as to all parties affected or to beaffected by the Plan and the transactions contemplated thereby, and the legal and factual bases setforth in the documents Filed in support of approval of the Disclosure Statement and Confirmationand other evidence presented at the Combined Hearing establish just cause for the relief grantedherein; and after due deliberation thereon and good cause appearing therefor, the BankruptcyCourt makes and issues the following findings of fact and conclusions of law, and orders for thereasons stated on the record at the December 31, 2024 ruling on plan confirmation;2 Capitalized terms used but not otherwise defined herein have meanings given to them in the Plan and/or theDisclosure Statement. The rules of interpretation set forth in Article I.B of the Plan apply to this CombinedOrder.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 4 5 o of f1 133455I. FINDINGS OF FACT AND CONCLUSIONS OF LAWIT IS HEREBY FOUND AND DETERMINED THAT:A. Findings of Fact and Conclusions of Law.1. The findings and conclusions set forth herein and in the record of theCombined Hearing constitute the Bankruptcy Court's findings of fact and conclusions of law underRule 52 of the Federal Rules of Civil Procedure, as made applicable herein by Bankruptcy Rules7052 and 9014. To the extent any of the following conclusions of law constitute findings of fact,or vice versa, they are adopted as such.B. Jurisdiction, Venue, Core Proceeding.2. This Court has jurisdiction over these Chapter 11 Cases pursuant to28 U.S.C. § 1334. Venue of these proceedings and the Chapter 11 Cases in this district is properpursuant to 28 U.S.C. §§ 1408 and 1409. This is a core proceeding pursuant to 28 U.S.C.§ 157(b)(2) and this Court may enter a final order hereon under Article III of the United StatesConstitution.C. Eligibility for Relief.3. The Debtors were and continue to be entities eligible for relief under section109 of the Bankruptcy Code and the Debtors were and continue to be proper proponents of thePlan under section 1121(a) of the Bankruptcy Code.D. Commencement and Joint Administration of the Chapter 11 Cases.4. On the Petition Date, the Debtors commenced the Chapter 11 Cases. OnNovember 18, 2024, the Court entered an order [Docket No. 51] authorizing the jointadministration of the Chapter 11 Case in accordance with Bankruptcy Rule 1015(b). The Debtorshave operated their businesses and managed their properties as debtors in possession pursuant toCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 5 6 o of f1 133456sections 1107(a) and 1108 of the Bankruptcy Code. No trustee, examiner, or statutory committeehas been appointed in these Chapter 11 Cases.E. Adequacy of the Disclosure Statement.5. The Disclosure Statement and the exhibits contained therein (i) containssufficient information of a kind necessary to satisfy the disclosure requirements of applicablenonbankruptcy laws, rules and regulations, including the Securities Act; and (ii) contains“adequate information” as such term is defined in section 1125(a)(1) and used in section1126(b)(2) of the Bankruptcy Code, with respect to the Debtors, the Plan and the transactionscontemplated therein. The Filing of the Disclosure Statement satisfied Bankruptcy Rule 3016(b).The injunction, release, and exculpation provisions in the Plan and the Disclosure Statementdescribe, in bold font and with specific and conspicuous language, all acts to be enjoined andidentify the Entities that will be subject to the injunction, thereby satisfying Bankruptcy Rule3016(c).F. Solicitation.6. As described in and evidenced by the Voting Declaration, the Solicitationand the transmittal and service of the Solicitation Materials were: (i) timely, adequate, appropriate,and sufficient under the circumstances; and (ii) in compliance with sections 1125(g) and 1126(b)of the Bankruptcy Code, Bankruptcy Rules 3017 and 3018, the applicable Local Bankruptcy Rules,the Scheduling Order and all applicable nonbankruptcy rules, laws, and regulations applicable tothe Solicitation, including the registration requirements under the Securities Act. The SolicitationMaterials, including the Ballots and the Opt Out Form (as defined below), adequately informedthe holders of Claims entitled to vote on the Plan of the procedures and deadline for completingand submitting the Ballots.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 6 7 o of f1 1334577. The Debtors served the Combined Hearing Notice on the entire creditormatrix and served the Opt Out Form on all Non-Voting Classes. The Combined Hearing Noticeadequately informed Holders of Claims or Interests of critical information regarding voting on (ifapplicable) and objecting to the Plan, including deadlines and the inclusion of release, exculpation,and injunction provisions in the Plan, and adequately summarized the terms of the Third-PartyRelease. Further, because the form enabling stakeholders to opt out of the Third-Party Release (the“Opt Out Form”) was included in both the Ballots and the Opt Out Form, every known stakeholder,including unimpaired creditors was provided with the means by which the stakeholders could optout of the Third-Party Release. No further notice is required. The period for voting on the Planprovided a reasonable and sufficient period of time and the manner of such solicitation was anappropriate process allowing for such holders to make an informed decision.G. Tabulation.8. As described in and evidenced by the Voting Declaration, (i) the holders ofClaims in Class 3 (RCF Claims) and Class 5 (Notes Claims) are Impaired under the Plan(collectively, the “Voting Classes”) and have voted to accept the Plan in the numbers and amountsrequired by section 1126 of the Bankruptcy Code, and (ii) no Class that was entitled to vote on thePlan voted to reject the Plan. All procedures used to tabulate the votes on the Plan were in goodfaith, fair, reasonable, and conducted in accordance with the applicable provisions of theBankruptcy Code, the Bankruptcy Rules, the Local Rules, the Disclosure Statement, theScheduling Order, and all other applicable nonbankruptcy laws, rules, and regulations.H. Plan Supplement.9. On December 10, 2024, the Debtors Filed the Plan Supplement with theCourt. The Plan Supplement (including as subsequently modified, supplemented, or otherwiseCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 7 8 o of f1 133458amended pursuant to a filing with the Court), complies with the terms of the Plan, and the Debtorsprovided good and proper notice of the filing in accordance with the Bankruptcy Code, theBankruptcy Rules, the Scheduling Order, and the facts and circumstances of the Chapter 11 Cases.All documents included in the Plan Supplement are integral to, part of, and incorporated byreference into the Plan. No other or further notice is or will be required with respect to the PlanSupplement. Subject to the terms of the Plan and the Lock-Up Agreement, and only consistenttherewith, the Debtors reserve the right to alter, amend, update, or modify the Plan Supplementand any of the documents contained therein or related thereto, in accordance with the Plan, on orbefore the Effective Date.I. Modifications to the Plan.10. Pursuant to section 1127 of the Bankruptcy Code, the modifications to thePlan described or set forth in this Combined Order constitute technical or clarifying changes,changes with respect to particular Claims by agreement with holders of such Claims, ormodifications that do not otherwise materially and adversely affect or change the treatment of anyother Claim or Interest under the Plan. These modifications are consistent with the disclosurespreviously made pursuant to the Disclosure Statement and Solicitation Materials, and notice ofthese modifications was adequate and appropriate under the facts and circumstances of the Chapter11 Cases. In accordance with Bankruptcy Rule 3019, these modifications do not require additionaldisclosure under section 1125 of the Bankruptcy Code or the resolicitation of votes under section1126 of the Bankruptcy Code, and they do not require that holders of Claims or Interests beafforded an opportunity to change previously cast acceptances or rejections of the Plan.Accordingly, the Plan is properly before this Court and all votes cast with respect to the Plan priorto such modification shall be binding and shall apply with respect to the Plan.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 8 9 o of f1 133459J. Objections Overruled.11. Any resolution or disposition of objections to Confirmation explained orotherwise ruled upon by the Court on the record at the Confirmation Hearing is herebyincorporated by reference. All unresolved objections, statements, joinders, informal objections,and reservations of rights are hereby overruled on the merits.K. Burden of Proof.12. The Debtors, as proponents of the Plan, have met their burden of provingthe elements of sections 1129(a) and 1129(b) of the Bankruptcy Code by a preponderance of theevidence, the applicable evidentiary standard for Confirmation. Further, the Debtors have proventhe elements of sections 1129(a) and 1129(b) by clear and convincing evidence. Each witness whotestified on behalf of the Debtors in connection with the Confirmation Hearing was credible,reliable, and qualified to testify as to the topics addressed in his testimony.L. Compliance with the Requirements of Section 1129 of the BankruptcyCode.13. The Plan complies with all applicable provisions of section 1129 of theBankruptcy Code as follows:a. Section 1129(a)(1) – Compliance of the Plan with Applicable Provisions of theBankruptcy Code.14. The Plan complies with all applicable provisions of the Bankruptcy Code,including sections 1122 and 1123, as required by section 1129(a)(1) of the Bankruptcy Code.i. Section 1122 and 1123(a)(1) – Proper Classification.15. The classification of Claims and Interests under the Plan is proper under theBankruptcy Code. In accordance with sections 1122(a) and 1123(a)(1) of the Bankruptcy Code,Article III of the Plan provides for the separate classification of Claims and Interests at each Debtorinto Classes, based on differences in the legal nature or priority of such Claims and Interests (otherCaCsaes e2 42-49-09507557 5 D oDcoucmumenetn 2t 9266-32 FFiilleedd iinn TTXXSSBB oonn 1021//3113//2245 PPaaggee 91 0o fo 1f 3143510than Administrative Claims, Professional Fee Claims, and Priority Tax Claims, which areaddressed in Article II of the Plan and Unimpaired, and are not required to be designated asseparate Classes in accordance with section 1123(a)(1) of the Bankruptcy Code). Valid business,factual, and legal reasons exist for the separate classification of the various Classes of Claims andInterests created under the Plan, the classifications were not implemented for any improperpurpose, and the creation of such Classes does not unfairly discriminate between or among holdersof Claims or Interests.16. In accordance with section 1122(a) of the Bankruptcy Code, each Class ofClaims or Interests contains only Claims or Interests substantially similar to the other Claims orInterests within that Class. Accordingly, the Plan satisfies the requirements of sections 1122(a),1122(b), and 1123(a)(1) of the Bankruptcy Codeii. Section 1123(a)(2) – Specifications of Unimpaired Classes.17. Article III of the Plan specifies that Claims and Interests in the classesdeemed to accept the Plan are Unimpaired under the Plan. Holders of Intercompany Claims andIntercompany Interests are either Unimpaired and conclusively presumed to have accepted thePlan, or are Impaired and deemed to reject (the “Deemed Rejecting Classes”) the Plan, and, ineither event, are not entitled to vote to accept or reject the Plan. In addition, Article II of the Planspecifies that Administrative Claims and Priority Tax Claims are Unimpaired, although the Plandoes not classify these Claims. Accordingly, the Plan satisfies the requirements of section1123(a)(2) of the Bankruptcy Code.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 101 o of f1 1334511iii. Section 1123(a)(3) – Specification of Treatment of Voting Classes18. Article III.B of the Plan specifies the treatment of each Voting Class underthe Plan – namely, Class 3 and Class 5. Accordingly, the Plan satisfies the requirements of section1123(a)(3) of the Bankruptcy Code.iv. Section 1123(a)(4) – No Discrimination.19. Article III of the Plan provides the same treatment to each Claim or Interestin any particular Class, as the case may be, unless the holder of a particular Claim or Interest hasagreed to a less favorable treatment with respect to such Claim or Interest. Accordingly, the Plansatisfies the requirements of section 1123(a)(4) of the Bankruptcy Code.v. Section 1123(a)(5) – Adequate Means for Plan Implementation.20. The Plan and the various documents included in the Plan Supplementprovide adequate and proper means for the Plan's execution and implementation, including: (a)the general settlement of Claims and Interests; (b) the restructuring of the Debtors' balance sheetand other financial transactions provided for by the Plan; (c) the consummation of the transactionscontemplated by the Plan, the Lock-Up Agreement, the Restructuring Implementation Deed andthe Agreed Steps Plan and other documents Filed as part of the Plan Supplement; (d) the issuanceof Exchange Notes, the New Money Notes, and the Noteholder Ordinary Shares pursuant to thePlan; (e) the amendment of the Intercreditor Agreement; (f) the amendment of the FacilityAgreement; (g) the amendment of the Senior Secured Term Loan Agreement; (h) theconsummation of the Rights Offering in accordance with the Plan, Rights Offering Documentsand the Lock-Up Agreement; (i) the granting of all Liens and security interests granted orconfirmed (as applicable) pursuant to, or in connection with, the Facility Agreement, the ExchangeNotes Indenture, the New Money Notes Indenture, the amended Intercreditor Agreement and theCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 112 o of f1 1334512Senior Secured Term Loan Agreement pursuant to the New Security Documents (including anyLiens and security interests granted or confirmed (as applicable) on the Reorganized Debtors'assets); (j) the vesting of the assets of the Debtors' Estates in the Reorganized Debtors; (k) theconsummation of the corporate reorganization contemplated by the Plan, the Lock-Up Agreement,the Agreed Steps Plan and the Master Reorganization Agreement (as defined in the RestructuringImplementation Deed); and (l) the execution, delivery, filing, or recording of all contracts,instruments, releases, and other agreements or documents in furtherance of the Plan. Accordingly,the Plan satisfies the requirements of section 1123(a)(5) of the Bankruptcy Codevi. Section 1123(a)(6) – Non-Voting Equity Securities.21. The Company's organizational documents in accordance with the SwedishCompanies Act, Ch. 4, Sec 5 and the Plan prohibit the issuance of non-voting securities as of theEffective Date to the extent required to comply with section 1123(a)(6) of the Bankruptcy Code.Accordingly, the Plan satisfies the requirements of section 1123(a)(6) of the Bankruptcy Code.vii. Section 1123(a)(7) – Directors, Officers, and Trustees.22. The manner of selection of any officer, director, or trustee (or any successorto and such officer, director, or trustee) of the Reorganized Debtors will be determined inaccordance with the existing organizational documents, which is consistent with the interests ofcreditors and equity holders and with public policy. Accordingly, the Plan satisfies therequirements of section 1123(a)(7) of the Bankruptcy Code.b. Section 1123(b) – Discretionary Contents of the Plan23. The Plan contains various provisions that may be construed as discretionarybut not necessary for Confirmation under the Bankruptcy Code. Any such discretionary provisionCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 123 o of f1 1334513complies with section 1123(b) of the Bankruptcy Code and is not inconsistent with the applicableprovisions of the Bankruptcy Code. Thus, the Plan satisfies section 1123(b).i. Section 1123(b)(1) – Impairment/Unimpairment of Any Class of Claims orInterests24. Article III of the Plan impairs or leaves unimpaired, as the case may be,each Class of Claims or Interests, as contemplated by section 1123(b)(1) of the Bankruptcy Code.ii. Section 1123(b)(2) – Assumption and Rejection of Executory Contracts andUnexpired Leases25. Article V of the Plan provides for the assumption of the Debtors' ExecutoryContracts and Unexpired Leases as of the Effective Date unless such Executory Contract orUnexpired Lease: (a) is identified on the Rejected Executory Contract and Unexpired Lease List;(b) has been previously rejected by a Final Order; (c) is the subject of a motion to reject ExecutoryContracts or Unexpired Leases that is pending on the Confirmation Date; or (4) is subject to amotion to reject an Executory Contract or Unexpired Lease pursuant to which the requestedeffective date of such rejection is after the Effective Date. Thus, the Plan satisfies section1123(b)(2).iii. Compromise and Settlement26. In accordance with section 1123(b)(3)(A) of the Bankruptcy Code andBankruptcy Rule 9019, and in consideration for the distributions and other benefits provided underthe Plan, the provisions of the Plan constitute a good-faith compromise of all Claims, Interests,and controversies relating to the contractual, legal, and subordination rights that all holders ofClaims or Interests may have with respect to any Allowed Claim or Interest or any distribution tobe made on account of such Allowed Claim or Interest. Such compromise and settlement is theproduct of extensive arm's-length, good faith negotiations that, in addition to the Plan, resulted inCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 134 o of f1 1334514the execution of the Lock-Up Agreement, which represents a fair and reasonable compromise ofall Claims, Interests, and controversies and entry into which represented a sound exercise of theDebtors' business judgment. Such compromise and settlement is fair, equitable, and reasonableand in the best interests of the Debtors and their Estates.27. The releases of the Debtors' directors and officers are an integral componentof the settlements and compromises embodied in the Plan. The Debtors' directors and officers: (a)made a substantial and valuable contribution to the Debtors' restructuring, including extensive preandpost-Petition Date negotiations with stakeholder groups, and ensured the uninterruptedoperation of the Debtors' businesses during the Chapter 11 Cases; (b) invested significant timeand effort to make the restructuring a success and maximize the value of the Debtors' businessesin a challenging operating environment; (c) attended and, in certain instances, testified atdepositions and Court hearings; (d) attended and participated in numerous stakeholder meetings,management meetings, and board meetings related to the restructuring; (e) are entitled toindemnification from the Debtors under applicable non-bankruptcy law, organizationaldocuments, and agreements; (f) invested significant time and effort in the preparation of the Lock-Up Agreement, the Plan, Disclosure Statement, all supporting analyses, and the numerous otherpleadings Filed in the Chapter 11 Cases, thereby ensuring the smooth administration of the Chapter11 Cases; and (g) are entitled to all other benefits under any employment contracts existing as ofthe Petition Date. Litigation by the Debtors or other Releasing Parties against the Debtors'directors and officers would be a distraction to the Debtors' business and restructuring and woulddecrease rather than increase the value of the estates. The releases of the Debtors' directors andofficers contained in the Plan have the consent of the Debtors and the Releasing Parties and are inthe best interests of the estates.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 145 o of f1 1334515iv. Debtor Release28. The releases of claims and Causes of Action by the Debtors, ReorganizedDebtors, and their Estates described in Article VIII.C of the Plan in accordance with section1123(b) of the Bankruptcy Code (the “Debtor Release”) represent a valid exercise of the Debtors'business judgment under Bankruptcy Rule 9019. The Debtors' or the Reorganized Debtors' pursuitof any such claims against the Released Parties is not in the best interests of the Estates' variousconstituencies because the costs involved would outweigh any potential benefit from pursuingsuch claims. The Debtor Release is fair and equitable and complies with the absolute priority rule.29. The Debtor Release is (a) an integral part of the Plan, and a component ofthe comprehensive settlement implemented under the Plan; (b) in exchange for the good andvaluable consideration provided by the Released Parties; (c) a good faith settlement andcompromise of the claims and Causes of Action released by the Debtor Release; (d) materiallybeneficial to, and in the best interests of, the Debtors, their Estates, and their stakeholders, and isimportant to the overall objectives of the Plan to finally resolve certain Claims among or againstcertain parties in interest in the Chapter 11 Cases; (e) fair, equitable, and reasonable; (f) given andmade after due notice and opportunity for hearing; and (g) a bar to any Debtor asserting any claimor Cause of Action released by the Debtor Release against any of the Released Parties. Theprobability of success in litigation with respect to the released claims and Causes of Action, whenweighed against the costs, supports the Debtor Release. With respect to each of these potentialCauses of Action, the parties could assert colorable defenses and the probability of success isuncertain. The Debtors' or the Reorganized Debtors' pursuit of any such claims or Causes ofAction against the Released Parties is not in the best interests of the Estates or the Debtors' variousCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 156 o of f1 1334516constituencies because the costs involved would likely outweigh any potential benefit frompursuing such claims or Causes of Action30. Holders of Claims and Interests entitled to vote have overwhelmingly votedin favor of the Plan, including the Debtor Release. The Plan, including the Debtor Release, wasnegotiated before and after the Petition Date by sophisticated parties represented by able counseland advisors, including the Consenting Creditors. The Debtor Release is therefore the result of ahard fought and arm's-length negotiation process conducted in good faith.31. The Debtor Release appropriately offers protection to parties thatparticipated in the Debtors' restructuring process, including the Consenting Creditors, whoseparticipation in the Chapter 11 Cases is critical to the Debtors' successful emergence frombankruptcy. Specifically, the Released Parties, including the Consenting Creditors, madesignificant concessions and contributions to the Chapter 11 Cases, including, entering into theLock-Up Agreement and related agreements, supporting the Plan and the Chapter 11 Cases, andwaiving or agreeing to impair substantial rights and Claims against the Debtors under the Plan (aspart of the compromises composing the settlement underlying the revised Plan) in order tofacilitate a consensual reorganization and the Debtors' emergence from chapter 11. The DebtorRelease for the Debtors' directors and officers is appropriate because the Debtors' directors andofficers share an identity of interest with the Debtors and, as previously stated, supported and madesubstantial contributions to the success of the Plan, the Chapter 11 Cases, and operation of theDebtors' business during the Chapter 11 Cases, actively participated in meetings, negotiations, andimplementation during the Chapter 11 Cases, and have provided other valuable consideration tothe Debtors to facilitate the Debtors' successful reorganization and continued operation.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 167 o of f1 133451732. The scope of the Debtor Release is appropriately tailored under the factsand circumstances of the Chapter 11 Cases. In light of, among other things, the value provided bythe Released Parties to the Debtors' Estates and the critical nature of the Debtor Release to thePlan, the Debtor Release is appropriate.v. Release by Holders of Claims and Interests33. The release by the Releasing Parties (the “Third-Party Release”), set forthin Article VIII.D of the Plan, is an essential provision of the Plan. The Third-Party Release is: (a)consensual as to those Releasing Parties that did not specifically and timely object or properly optout from the Third-Party Release; (b) within the jurisdiction of the Bankruptcy Court pursuant to28 U.S.C. § 1334; (c) in exchange for the good and valuable consideration provided by theReleased Parties; (d) a good faith settlement and compromise of the claims and Causes of Actionreleased by the Third-Party Release; (e) materially beneficial to, and in the best interests of, theDebtors, their Estates, and their stakeholders, and is important to the overall objectives of the Planto finally resolve certain Claims among or against certain parties in interest in the Chapter 11Cases; (f) fair, equitable, and reasonable; (g) given and made after due notice and opportunity forhearing; (h) appropriately narrow in scope given that it expressly excludes, among other things,any Cause of Action that is judicially determined by a Final Order to have constituted actual fraud,willful misconduct, or gross negligence; (i) a bar to any of the Releasing Parties asserting anyclaim or Cause of Action released by the Third-Party Release against any of the Released Parties;and (j) consistent with sections 105, 524, 1123, 1129, and 1141 and other applicable provisions ofthe Bankruptcy Code.34. The Third-Party Release is an integral part of the agreement embodied inthe Plan among the relevant parties in interest. Like the Debtor Release, the Third-Party ReleaseCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 178 o of f1 1334518facilitated participation in both the Debtors' Plan and the chapter 11 process generally. The Third-Party Release is instrumental to the Plan and was critical in incentivizing parties to support thePlan and preventing significant and time-consuming litigation regarding the parties' respectiverights and interests. The Third-Party Release was a core negotiation point in connection with thePlan and instrumental in developing the Plan that maximized value for all of the Debtors'stakeholders and kept the Debtors intact as a going concern. As such, the Third-Party Releaseappropriately offers certain protections to parties who constructively participated in the Debtors'restructuring process—including the Consenting Creditors (as set forth above)—by, among otherthings, facilitating the negotiation and consummation of the Plan, supporting the Plan and, in thecase of the Backstop Providers, committing to provide new capital to facilitate the Debtors'emergence from chapter 11. Specifically, the Notes Ad Hoc Group proposed and negotiated thepari passu transaction that is the basis of the restructuring proposed under the Plan and provideda much-needed deleveraging to the Debtors' business while taking a discount on their Claims (inexchange for other consideration).35. Furthermore, the Third-Party Release is consensual as to all parties ininterest, including all Releasing Parties, and such parties in interest were provided notice of thechapter 11 proceedings, the Plan, the deadline to object to confirmation of the Plan, and theCombined Hearing and were properly informed that all holders of Claims against or Interests inthe Debtors that did not file an objection with the Court in the Chapter 11 Cases that included anexpress objection to the inclusion of such holder as a Releasing Party under the provisionscontained in Article VIII of the Plan would be deemed to have expressly, unconditionally,generally, individually, and collectively consented to the release and discharge of all claims andCauses of Action against the Debtors and the Released Parties. Additionally, the release provisionsCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 189 o of f1 1334519of the Plan were conspicuous, emphasized with boldface type in the Plan, the DisclosureStatement, the Ballots, and the applicable notices. Except as set forth in the Plan, all ReleasingParties were properly informed that unless they (a) checked the “opt out” box on the applicableBallot or opt-out form and returned the same in advance of the Voting Deadline, as applicable, or(b) timely Filed an objection to the releases contained in the Plan that was not resolved beforeentry of this Confirmation Order, they would be deemed to have expressly consented to the releaseof all Claims and Causes of Action against the Released Parties.36. The Ballots sent to all holders of Claims and Interests entitled to vote, aswell as the notice of the Combined Hearing sent to all known parties in interest (including thosenot entitled to vote on the Plan), unambiguously provided in bold letters that the Third-PartyRelease was contained in the Plan.37. The scope of the Third-Party Release is appropriately tailored under thefacts and circumstances of the Chapter 11 Cases, and parties in interest received due and adequatenotice of the Third-Party Release. Among other things, the Plan provides appropriate and specificdisclosure with respect to the claims and Causes of Action that are subject to the Third-PartyRelease, and no other disclosure is necessary. The Debtors, as evidenced by the VotingDeclaration and Certificate of Publication, including by providing actual notice to all knownparties in interest, including all known holders of Claims against, and Interests in, any Debtor andpublishing notice in international and national publications for the benefit of unknown parties ininterest, provided sufficient notice of the Third-Party Release, and no further or other notice isnecessary. The Third-Party Release is designed to provide finality for the Debtors, theReorganized Debtors and the Released Parties regarding the parties' respective obligations underthe Plan. For the avoidance of doubt, and notwithstanding anything to the contrary, anyparty who timely opted-out of the Third-Party Release is not bound by the Third-PartyRelease.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 290 o of f1 133452038. The Third-Party Release is specific in language, integral to the Plan, andgiven for substantial consideration. The Releasing Parties were given due and adequate notice ofthe Third-Party Release, and thus the Third-Party Release is consensual under controllingprecedent as to those Releasing Parties that did not specifically and timely object. In light of,among other things, the value provided by the Released Parties to the Debtors' Estates and theconsensual and critical nature of the Third-Party Release to the Plan, the Third-Party Release isappropriatevi. Exculpation.39. The exculpation described in Article VIII.E of the Plan (the “Exculpation”)is appropriate under applicable law, including In re Highland Capital Mgmt., L.P., 48 F. 4th 419(5th Cir. 2022), because it was supported by proper evidence, proposed in good faith, wasformulated following extensive good-faith, arm's-length negotiations with key constituents, and isappropriately limited in scope.40. No Entity or Person may commence or continue any action, employ anyprocess, or take any other act to pursue, collect, recover or offset any Claim, Interest, debt,obligation, or Cause of Action relating or reasonably likely to relate to any act or commission inconnection with, relating to, or arising out of a Covered Matter (including one that alleges theactual fraud, gross negligence, or willful misconduct of a Covered Entity), unless expresslyauthorized by the Bankruptcy Court after (1) it determines, after a notice and a hearing, such Claim,Interest, debt, obligation, or Cause of Action is colorable and (2) it specifically authorizes suchEntity or Person to bring such Claim or Cause of Action. The Bankruptcy Court shall have soleand exclusive jurisdiction to determine whether any such Claim, Interest, debt, obligation or Causeof Action is colorable and, only to the extent legally permissible and as provided for in Article XI,CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 201 o of f1 1334521shall have jurisdiction to adjudicate such underlying colorable Claim, Interest, debt, obligation, orCause of Action.vii. Injunction.41. The injunction provisions set forth in Article VIII.F of the Plan are essentialto the Plan and are necessary to implement the Plan and to preserve and enforce the discharge,Debtor Release, the Third-Party Release, and the Exculpation provisions in Article VIII of thePlan. The injunction provisions are appropriately tailored to achieve those purposes.viii. Preservation of Claims and Causes of Action.42. Article IV.L of the Plan appropriately provides for the preservation by theDebtors of certain Causes of Action in accordance with section 1123(b) of the Bankruptcy Code.Causes of Action not released by the Debtors or exculpated under the Plan will be retained by theReorganized Debtors as provided by the Plan. The Plan is sufficiently specific with respect to theCauses of Action to be retained by the Debtors, and the Plan and Plan Supplement providemeaningful disclosure with respect to the potential Causes of Action that the Debtors may retain,and all parties in interest received adequate notice with respect to such retained Causes of Action.The provisions regarding Causes of Action in the Plan are appropriate and in the best interests ofthe Debtors, their respective Estates, and holders of Claims or Interests. For the avoidance of anydoubt, Causes of Action released or exculpated under the Plan will not be retained by theReorganized Debtors.c. Section 1123(d) – Cure of Defaults43. Article V.D of the Plan provides for the satisfaction of Cure Claimsassociated with each Executory Contract and Unexpired Lease to be assumed in accordance withsection 365(b)(1) of the Bankruptcy Code. Any monetary defaults under each assumed ExecutoryCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 212 o of f1 1334522Contract or Unexpired Lease shall be satisfied, pursuant to section 365(b)(1) of the BankruptcyCode, by payment of the default amount in Cash on the Effective Date, subject to the limitationsdescribed in Article V.D of the Plan, or on such other terms as the parties to such ExecutoryContracts or Unexpired Leases may otherwise agree. Any Disputed Cure Amounts will bedetermined in accordance with the procedures set forth in Article V.D of the Plan, and applicablebankruptcy and nonbankruptcy law. As such, the Plan provides that the Debtors will Cure, orprovide adequate assurance that the Debtors will promptly Cure, defaults with respect to assumedExecutory Contracts and Unexpired Leases in accordance with section 365(b)(1) of theBankruptcy Code. Thus, the Plan complies with section 1123(d) of the Bankruptcy Code.d. Section 1129(a)(2) – Compliance of the Debtors and Others with the ApplicableProvisions of the Bankruptcy Code.44. The Debtors, as proponents of the Plan, have complied with all applicableprovisions of the Bankruptcy Code as required by section 1129(a)(2) of the Bankruptcy Code,including sections 1122, 1123, 1124, 1125, 1126, and 1128, and Bankruptcy Rules 3017, 3018,and 3019.e. Section 1129(a)(3) – Proposal of Plan in Good Faith.45. The Debtors have proposed the Plan in good faith, in accordance with theBankruptcy Code requirements, and not by any means forbidden by law. In determining that thePlan has been proposed in good faith, the Court has examined the totality of the circumstancesfiling of the Chapter 11 Cases, including the formation of Intrum AB of Texas LLC (“IntrumTexas”), the Plan itself, and the process leading to its formulation. The Debtors' good faith isevident from the facts and record of the Chapter 11 Cases, the Disclosure Statement, and the recordof the Combined Hearing and other proceedings held in the Chapter 11 CasesCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 223 o of f1 133452346. The Plan (including the Plan Supplement and all other documents necessaryto effectuate the Plan) is the product of good faith, arm's-length negotiations by and among theDebtors, the Debtors' directors and officers and the Debtors' key stakeholders, including theConsenting Creditors and each of their respective professionals. The Plan itself and the processleading to its formulation provide independent evidence of the Debtors' and such other parties'good faith, serve the public interest, and assure fair treatment of holders of Claims or Interests.Consistent with the overriding purpose of chapter 11, the Debtors Filed the Chapter 11 Cases withthe belief that the Debtors were in need of reorganization and the Plan was negotiated and proposedwith the intention of accomplishing a successful reorganization and maximizing stakeholder value,and for no ulterior purpose. Accordingly, the requirements of section 1129(a)(3) of the BankruptcyCode are satisfied.f. Section 1129(a)(4) – Court Approval of Certain Payments as Reasonable.47. Any payment made or to be made by the Debtors, or by a person issuingsecurities or acquiring property under the Plan, for services or costs and expenses in connectionwith the Chapter 11 Cases, or in connection with the Plan and incident to the Chapter 11 Cases,has been approved by, or is subject to the approval of, the Court as reasonable. Accordingly, thePlan satisfies the requirements of section 1129(a)(4).g. Section 1129(a)(5)—Disclosure of Directors and Officers and Consistency with theInterests of Creditors and Public Policy.48. The identities of or process for appointment of the Reorganized Debtors'directors and officers proposed to serve after the Effective Date were disclosed in the PlanSupplement in advance of the Combined Hearing. Accordingly, the Debtors have satisfied therequirements of section 1129(a)(5) of the Bankruptcy Code.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 234 o of f1 1334524h. Section 1129(a)(6)—Rate Changes.49. The Plan does not contain any rate changes subject to the jurisdiction of anygovernmental regulatory commission and therefore will not require governmental regulatoryapproval. Therefore, section 1129(a)(6) of the Bankruptcy Code does not apply to the Plan.i. Section 1129(a)(7)—Best Interests of Holders of Claims and Interests.50. The liquidation analysis attached as Exhibit D to the Disclosure Statementand the other evidence in support of the Plan that was proffered or adduced at the CombinedHearing, and the facts and circumstances of the Chapter 11 Cases are (a) reasonable, persuasive,credible, and accurate as of the dates such analysis or evidence was prepared, presented orproffered; (b) utilize reasonable and appropriate methodologies and assumptions; (c) have not beencontroverted by other evidence; and (d) establish that each holder of Allowed Claims or Interestsin each Class will recover as much or more value under the Plan on account of such Claim orInterest, as of the Effective Date, than the amount such holder would receive if the Debtors wereliquidated on the Effective Date under chapter 7 of the Bankruptcy Code or has accepted the Plan.As a result, the Debtors have demonstrated that the Plan is in the best interests of their creditorsand equity holders and the requirements of section 1129(a)(7) of the Bankruptcy Code are satisfied.j. Section 1129(a)(8)—Conclusive Presumption of Acceptance by UnimpairedClasses; Acceptance of the Plan by Certain Voting Classes.51. The classes deemed to accept the Plan are Unimpaired under the Plan andare deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. EachVoting Class voted to accept the Plan. For the avoidance of doubt, however, even if section1129(a)(8) has not been satisfied with respect to all of the Debtors, the Plan is confirmable becausethe Plan does not discriminate unfairly and is fair and equitable with respect to the Voting Classesand thus satisfies section 1129(b) of the Bankruptcy Code with respect to such Classes as describedCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 245 o of f1 1334525further below. As a result, the requirements of section 1129(b) of the Bankruptcy Code are alsosatisfied.k. Section 1129(a)(9)—Treatment of Claims Entitled to Priority Pursuant to Section507(a) of the Bankruptcy Code.52. The treatment of Administrative Claims, Professional Fee Claims, andPriority Tax Claims under Article II of the Plan satisfies the requirements of, and complies in allrespects with, section 1129(a)(9) of the Bankruptcy Code.l. Section 1129(a)(10)—Acceptance by at Least One Voting Class.53. As set forth in the Voting Declaration, all Voting Classes overwhelminglyvoted to accept the Plan. As such, there is at least one Voting Class that has accepted the Plan,determined without including any acceptance of the Plan by any insider (as defined by theBankruptcy Code), for each Debtor. Accordingly, the requirements of section 1129(a)(10) of theBankruptcy Code are satisfied.m. Section 1129(a)(11)—Feasibility of the Plan.54. The Plan satisfies section 1129(a)(11) of the Bankruptcy Code. Thefinancial projections attached to the Disclosure Statement as Exhibit D and the other evidencesupporting the Plan proffered or adduced by the Debtors at or before the Combined Hearing: (a)is reasonable, persuasive, credible, and accurate as of the dates such evidence was prepared,presented, or proffered; (b) utilize reasonable and appropriate methodologies and assumptions; (c)has not been controverted by other persuasive evidence; (d) establishes that the Plan is feasibleand Confirmation of the Plan is not likely to be followed by liquidation or the need for furtherfinancial reorganization; (e) establishes that the Debtors will have sufficient funds available tomeet their obligations under the Plan and in the ordinary course of business—including sufficientamounts of Cash to reasonably ensure payment of Allowed Claims that will receive CashCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 256 o of f1 1334526distributions pursuant to the terms of the Plan and other Cash payments required under the Plan;and (f) establishes that the Debtors or the Reorganized Debtors, as applicable, will have thefinancial wherewithal to pay any Claims that accrue, become payable, or are allowed by FinalOrder following the Effective Date. Accordingly, the Plan satisfies the requirements of section1129(a)(11) of the Bankruptcy Code.n. Section 1129(a)(12)—Payment of Statutory Fees.55. Article XII.C of the Plan provides that all fees payable pursuant to section1930(a) of the Judicial Code, as determined by the Court at the Confirmation Hearing inaccordance with section 1128 of the Bankruptcy Code, will be paid by each of the applicableReorganized Debtors for each quarter (including any fraction of a quarter) until the Chapter 11Cases are converted, dismissed, or closed, whichever occurs first. Accordingly, the Plan satisfiesthe requirements of section 1129(a)(12) of the Bankruptcy Code.o. Section 1129(a)(13)—Retiree Benefits.56. Pursuant to section 1129(a)(13) of the Bankruptcy Code, and as provided inArticle IV.K of the Plan, the Reorganized Debtors will continue to pay all obligations on accountof retiree benefits (as such term is used in section 1114 of the Bankruptcy Code) on and after theEffective Date in accordance with applicable law. As a result, the requirements of section1129(a)(13) of the Bankruptcy Code are satisfied.p. Sections 1129(a)(14), (15), and (16)—Domestic Support Obligations, Individuals,and Nonprofit Corporations.57. The Debtors do not owe any domestic support obligations, are notindividuals, and are not nonprofit corporations. Therefore, sections 1129(a)(14), 1129(a)(15), and1129(a)(16) of the Bankruptcy Code do not apply to the Chapter 11 Cases.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 267 o of f1 1334527q. Section 1129(b)—Confirmation of the Plan Over Nonacceptance of VotingClasses.58. No Classes rejected the Plan, and section 1129(b) is not applicable here,but even if it were, the Plan may be confirmed pursuant to section 1129(b)(1) of the BankruptcyCode because the Plan is fair and equitable with respect to the Deemed Rejecting Classes. ThePlan has been proposed in good faith, is reasonable, and meets the requirements and all VotingClasses have voted to accept the Plan. The treatment of Intercompany Claims and IntercompanyInterests under the Plan provides for administrative convenience does not constitute a distributionunder the Plan on account of suc

HoldCo Bros are back! Nik and I discussing how AI agents can automate tasks, focusing on their potential to revolutionize both business and personal productivity.We brainstormed various ideas for using AI agents, such as making restaurant reservations and gathering quotes for wedding planning. We also considered having AI agents call businesses for market research, gather data from different industries, and build newsletters based on that dataTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Introduction and Opening Banter00:51 AI Agents and Restaurant Reservations01:32 The Evolution of AI Technology03:03 Washing Dishes and Creative Thinking04:44 Business Ideas and Market Research06:36 Wedding Planning with AI11:17 The Future of AI in Everyday Tasks14:39 Practical Uses of AI and Personal Experiences19:38 Domain Names and Business Potential20:36 Exploring Business Ideas: From Weddings to Parking Tickets21:08 The Power of a Good Domain Name21:36 AI's Transformative Potential21:52 Teaching AI to the Next Generation23:50 Entrepreneurial Opportunities with AI24:29 Building a Business Around AI Education31:17 Proprietary Information and AI Agents33:41 The Value of Aggregated Data39:15 Challenges and Costs of AI Agents41:12 Final Thoughts and Future Applications

HoldCo Bros are back! Nik and I talk about our absolutely transformative 2024. It was a year of big wins and some pretty big fails, and we're breaking it all down. Is consistency overrated when it comes to content? We're debating that and more!We discussed the world of content creation, going from cringe to building an audience of over a million people across multiple platforms. We explore how short-form video is like a lottery ticket - a small investment that can change everything. We also discuss how building an audience can create new opportunities, such as launching our vending machine business that already did over $200k in sales, as well as getting into some unsexy but profitable businesses. Of course, we're also talking about some tough lessons learned from our crypto business and other ventures that didn't work out. Plus, we're sharing our exciting plans for 2025. Timestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Reflecting on a Chaotic Year01:22 Quitting the Job and Embracing Entrepreneurship02:31 The Power of Content Creation03:59 Building an Audience and Exploring Opportunities05:33 The Impact of Short Form Video07:46 Turning Ideas into Reality14:40 The Value of Consistency and Passion in Content23:15 Exploring the Fun of Reporting23:48 Big Wins and Validations26:08 Building a Sales Team28:31 Launching Repeat Leads29:46 Investing in Communities and Businesses36:51 Challenges and Failures42:24 Looking Forward to 2025

HoldCo Bros are back! Nik and I talk about starting a Christmas tree rental service with delivery and pickup, acquiring tree lots from landscaping companies, and buying into this type of seasonal business. We also discuss robot lawn mowing and cleaning services, how you can help small businesses monetize email lists, and a business owner accountability platform to help entrepreneurs stay on track. Timestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:32 TikTok Shop Concept Comes to Life02:12 Christmas Tree Business Ideas07:14 Exploring Landscaping and Tree Businesses12:25 Innovative Uses for Autonomous Lawn Mowers20:05 Exploring the Tree Farm Business21:15 Monetizing Customer Email Lists29:24 Business Owner Accountability Platform

Dismissed by brokers, Simon Plummer bought & grew a manufacturer 75% in 3 years. Today he's building a long-term holdco.Topics in Simon's interview:Creating the “BizBuySell” of AustraliaBuying a manufacturing businessDifficulty of acquisition in AustraliaRunning the machines himself for 18 monthsLearning from his cashflow mistakesLaunching their brand in the UK, US, and CanadaHow a bricklaying YouTuber skyrocketed salesFinding and hiring a CEOAnxiety of owning a small businessBuilding a long-term holding companyReferences and how to contact Simon:LinkedInArbor Permanent OwnersBT Engineering USABT Engineering AustraliaRowan GrantJason AndrewLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you're a searcherGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

HoldCo Bros are back! Nik and I talk about three big ideas this week. First, we talk about college tuition negotiation - helping families save thousands while building a lean, profitable service. Then, there's the concierge service for college parents, offering insider knowledge and peace of mind. Finally, we talk about dead inventory and share creative ways to turn surplus stock into cash.Timestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:35 Introduction: The Untapped Potential of Negotiating College Tuition01:33 Exploring the Concept: Why Isn't Tuition Negotiation More Popular?03:14 The Business Opportunity: Tuition Negotiation as a Service05:28 Strategies for Negotiating Tuition10:38 Case Study: A Friend's Apparel Business Venture17:11 Creative Ideas for T-Shirt Designs18:27 The Success Story of 'God is Dope'19:43 Marketing Strategies for T-Shirt Brands23:25 The University Concierge Service Idea29:46 Evaluating Business Ideas: Marry, Date, or Kill33:12 Conclusion and Final Thoughts

HoldCo Bros are back! Nik and I dive into three big ideas this week. First, we explore how to use farmers markets as a testing ground for new ideas, getting direct customer feedback and validating concepts. Next, we discuss creating and coordinating farmers markets, including strategies for organizing and scaling them effectively. Finally, we brainstorm the pet piggyback idea: leveraging pet-related products and services in niche markets to tap into a growing industry. Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytFree weekly business ideas newsletter: http://tkopod.co/p-nlAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 HIghlights_The Booming Pet Industry00:34 The Quest for Authentic Texas Brisket Jerky04:02 The Secret Behind McDonald's Coke06:38 Pizza Oven Business Idea08:45 Scaling Food Businesses at Farmer's Markets12:13 Exploring the Farmer's Market Concept12:35 Building an E-Commerce Platform for Local Markets14:28 Understanding State Laws for Farmer's Markets15:14 Pet Industry Insights: A Growing Market16:24 Leaky Gut in Pets: A Business Opportunity17:26 Marketing Strategies for Pet Products18:07 Leveraging Email Lists and Facebook Groups19:35 Exploring E-Commerce Business Opportunities22:56 Shopify Marketplace and Business Listings25:50 Concluding Thoughts and Reflections

In this episode, Michael and Heather analyze a 25-year-old background search provider in California with a $7 million asking price and $1.1 million cash flow. They discuss the business model, the technology and operations behind criminal background checks, and the challenges of evaluating a market-leading "data wholesaler." The team debates its potential as a strong acquisition or a risky proposition amidst tech disruptions and high cash demands.Thanks to this weeks sponsors!Acquisition Lab: Serious about buying a business? Join Acquisition Lab's proven framework and support community. Learn more at AcquisitionLab.com or email Chelsea Wood at chelsea@buythenbuild.com.HoldCo Conference: Learn from top HoldCo owners! Join us in Utah next spring for HoldCo Conference 2025. Save 10% with code AAPod at HoldCoConference.com.Episode Key Highlights:Background Checks Unpacked: The process and customer base for this business.Financial Overview: $3.8M revenue, $1.1M cash flow, $7M asking price.Offshore Operations: A 15-year document processing facility included in the sale.Competitive Edge: Unique state-wide coverage and proprietary systems.Tech Disruption: Concerns about AI and automation reshaping the industry.High Barrier to Entry?: Evaluating claims of market dominance.Subscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at contact@acquanon.com

HoldCo Bros are back! Nik and I are talking about two big ideas today. First up, we talk about the Silver Tsunami - how to capture stories from the older generation using AI. Think video interviews, AI transcription, and even creating chatbots based on family history. Then we talked about biohacking - Chris shares his idea of using tools like continuous glucose monitors for accountability challenges. It's all about health, growth, and leveraging tech to make life better. Timestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytFree weekly business ideas newsletter: http://tkopod.co/p-nlAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights_Innovative Business Ideas in Elder Care02:51 The Silver Tsunami: Understanding Aging Population Trends05:46 Capturing Family Stories: A Growing Opportunity09:10 Leveraging Technology for Story Preservation12:06 Creating Value in Assisted Living Facilities14:59 The Business Model: Vitamins vs. Painkillers17:48 Practical Implementation: Building a Storytelling Studio21:36 Innovative Storytelling in Assisted Living23:15 New Year, New Business Opportunities24:40 Digitizing Personal Histories26:07 Understanding Health Through Technology28:59 Accountability in Health Challenges30:55 Monetizing Passion Projects33:16 Finding Your Business Passion38:05 Evaluating Business Ideas: Mary, Date, or Kill?

HoldCo Bros are back! Nik and I are talking about three fun business ideas today, but this is just Part 1 - stay tuned for Part 2 next week. First up, we talk about custom concerts: turning live music venues into unique experiences by letting fans bid on song requests, almost like a live auction. Then we talk about AI-powered local newsletter idea = using AI to create super-targeted newsletters that help generate local leads. Finally, we get into Facebook groups as a way to get leads.Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Highlights00:30 Live Music Idea14:50 Local Newsletter Idea18:11 Monetizing Newsletters and Facebook Groups21:04 Facebook Groups for Lead Generation

HoldCo Bros are back! Nik and I sit down to continue our discussion from last week (check out Part 1 - Episode #92 if you missed it!). In this episode, we continue brainstorming cool business ideas, like how to capitalize on website change monitoring for arbitrage and creating a tax Sherpa concept for entrepreneurs. We also do our "marry, date, or kill" segment to assess which of these ideas are worth pursuing, testing, or dropping.Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Website Monitoring Idea11:50 CPA Idea20:52 Evaluating Business Ideas: Mary, Date, or Kill?

In this episode, I am joined by Michael Girdley, Chairman and CEO of Girdley Enterprises, as we discuss how to build a HoldCo. Michael shares his frameworks and best practices for structuring HoldCo's.Episode Timestamps: 00:00 Intro02:25 What is HoldCo07:22 Types of HoldCo09:45 Why go HoldCo12:56 Types of HoldCo Pt 215:27 Frameworks for structuring your HoldCo19:16 7 steps of starting a HoldCo23:47 Why HoldCo's are awesome36:12 HoldCo's are antifragile 43:16 Make sure HoldCo's are right for you45:16 HoldCo Conference1) What's a Holdco?It's owning multiple businesses but not running any of them day-to-day.Think Warren Buffett lite - you're the maestro orchestrating a portfolio of companies.2) Why go Holdco?• Diversify risk• Create asymmetric bets• Design your ideal lifestyle• Leverage your passionsGirdley: "I tap dance to work every day, even when things are sucky."3) Types of Holdcos:• Roll-up (same biz, diff locations)• Platform (related businesses)• Pure Holdco (unrelated businesses)• Conglomerate (big daddy version)Pick your flavor based on your interests & expertise!4) How to start your Holdco journey:1. Have a plan2. Define your goals3. Design your org structure4. Consult lawyers & tax pros5. Build your all-star advisory team6. Execute & iterate7. Optimize for happiness!5) The secret sauce?

HoldCo Bros are back! Nik and I discuss four exciting ideas, but in this first part, we talk about two main ideas: growing a subreddit as a powerful business tool and a creative business-in-a-box solution for wantrepreneurs. We talk about how to effectively use Reddit as a growth hack, including automation tools like Zapier and AI, and also brainstorm a comprehensive package for those starting side hustles, but this is only Part 1 - stay tuned for the Part 2 next week!Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Introduction02:50 Navigating Reddit for Growth06:09 Leveraging AI and Automation09:06 Practical Applications for Entrepreneurs12:01 Creative Marketing Strategies14:48 Innovative Business Ideas18:10 Exploring New Monetization Opportunities20:38 Business in a box idea

HoldCo Bros are back! Nik and I talk about three ideas in this episode, following up from Episode #86. We cover GPT for Google Sheets, a creative dating idea, and Water Finds. Plus, we play our 'marry, date, or kill' game to decide which idea we'd pursue, test, or drop. It's a fun, insightful episode, so be sure to share, like, and subscribe!Learn more about Nik here: http://linktr.ee/cofoundersnikTimestamps below. Enjoy!---Watch this on YouTube instead here: tkopod.co/p-ytAsk me a question on or off the show here: http://tkopod.co/p-askLearn more about me: http://tkopod.co/p-cjkLearn about my company: http://tkopod.co/p-cofFollow me on Twitter here: http://tkopod.co/p-xFree weekly business ideas newsletter: http://tkopod.co/p-nlShare this podcast: http://tkopod.co/p-allScrape small business data: http://tkopod.co/p-os---00:00 Monetizing Unique Ideas01:07 Leveraging AI in Google Sheets06:58 Data Cleaning and Integrity11:28 Innovative Dating Solutions19:10 Social Proof in Dating24:22 Treasure Hunting and Content Creation29:42 Business Ideas Recap

Matt Cafrelli left a stable career in accounting to dive into the riskier world of acquisition entrepreneurship. He and his partner created a HoldCo to buy some service businesses. Their first acquisition was a window cleaning company in April 2023, followed quickly by a landscaping business in March 2024. We discuss the pros and cons of buying on the small side, future acquisitions, and their long term goals for the holding company.Matt Cafrelli: https://www.linkedin.com/in/mattcafrelli/ Clint Fiore and Bison Business: https://bisonbusiness.com/Patrick Dichter and Appletree: https://appletreebusiness.com/

Register for the webinars:Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/47TzaBcMarc Nzojibwami and 2 partners bought a business in Calgary, with a plan to keep buying (and without investor capital).Topics in Marc's interview:Early attempts at launching companies in universityAcquiring with 2 partnersTheir plan to build a holdco togetherAcquiring a 40 year old sign shopFinancing their deal in CanadaNegotiating purchase price and seller noteOne change they made immediatelyGrowing EBITDA 30% the first yearChallenges and benefits of partnershipsSearching full-time for his next acquisitionReferences and how to contact Marc:LinkedInmarc@auxano.caABL Imaging GroupGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or email hello@systemsix.com and mention Acquiring MindsGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter