Scaling Through Acquisition Without a Lot of Capital or Outside Investors

Josh & Loretta Davis
Built one of Canada’s fastest-growing logistics companies. With limited capital, we executed a roll-up strategy of small, distressed transportation companies across LTL, FTL, rail, brokerage, and warehousing.
Developed our own in-house software and operating system to scale and integrate efficiently.
Exited to one of the largest transportation companies in North America, backed by a U.S. private equity firm.
Why We Started Buying
We didn’t have a ton of capital, the market was in a downturn, and we saw an opportunity to do acquisitions with struggling companies.
We looked for businesses with strong customer bases but operational chaos - owners who were burned out, teams without direction, no real systems. That’s where we saw opportunity.
We built from the ground up - but scaled by acquiring what was broken, yet fixable.
What Worked For Us
1. Buy Broken, Not Bad
We targeted businesses with:
- Great customers but poor leadership or systems
- Solid service but no structure or tech
- Founders who needed a way out
Then we did the internal work - getting the right people in the right seats, rebuilding culture, and installing systems that could scale.
2. Structure Deals That De-Risk You
We didn’t have deep pockets, so structure was everything.
We got creative to limit upfront risk and keep cash flow strong:
- Modest cash at close (when needed)
- Seller financing over 3–5 years
- Performance-based earnouts
- Profit-share deals - in some cases, we acquired with no money down and paid the seller out of future profits
We focused on deals where we could protect downside, then grow into upside.
3. Build the Engine Internally
To scale, we built our own in-house operating system:
- Custom logistics & dispatch software
- Centralized KPI tracking across companies
- Playbooks for people, process, and integration
Just as important - we built a team of high-performance, A-player leaders who could execute, adapt, and drive results across every business we brought in.
This became our edge. It let us integrate faster, keep margins strong, and stay lean.
4. Drive Synergy Across Verticals
We layered acquisitions across:
- LTL & full truckload
- Rail & intermodal
- Warehousing & brokerage
Then we cross-sold, centralized ops, and created margin through smarter execution - not bigger marketing budgets.
Landmines to Avoid
Overpaying based on peak years
Assuming culture will “just adapt”
Buying what you can’t fix
"You don’t need a lot of capital or outside investors to scale. You need clarity, grit, a high-performance team, and a repeatable system."
— Josh
Ready to Scale Your Business?
If you're serious about scaling, want to grow through acquisitions, or are exploring exit strategies- let's connect.


