Entrepreneurs Explore Acquisition at Carlson Conference

The Entrepreneurship Through Acquisition (ETA) conference provided a spotlight on an emerging field, connecting entrepreneurs with industry leaders and experts. This marked the third year Minnesota Carlson hosted the event in partnership with an active and engaged alumni steering committee.

The conference documented the increasing prominence of ETA as a formal pathway for entrepreneurs seeking to acquire and grow businesses rather than founding new ventures. The day included structured content spanning the entire acquisition lifecycle.

“This conference connects Carlson students and alumni with the greater ETA community,” said John Stavig, the managing director of the Gary S. Holmes Center for Entrepreneurship, and an organizer of the event. “We're featuring business owners, investors, attorneys, and accountants who are leading the emerging field of entrepreneurship through acquisition.”

The conference opened with a keynote address from Steve Ressler, the co-founder and managing partner at The Brydon Group. Leveraging his deep experience in founding, scaling, and exiting multiple companies, Ressler delivered core insights on the process of acquiring and scaling businesses. His address set the foundational knowledge for the day, which transitioned into the “Navigating the Acquisition Process” session. This panel—featuring Kalen Schwartz, the acquisition leader at American National Bank; Ryan Turbes, a partner at Boulay; Young Bebus, ’11 MBA, the principal broker at VR Business Brokers; and Erik Splett, a partner at Fredrikson & Byron, P.A.—guided attendees through the legal, financial, and operational pillars of due diligence and assessing the quality of earnings.

The afternoon sessions addressed execution and post-deal activities, moving from transaction mechanics to long-term value creation. The “Financing the Deal: Debt and Equity” panel provided a functional examination of structuring and securing capital, with speakers John Thwing, ’87 BSB, “The SBA Guy” of Live Oak Bank; Blair Oklobzija, the market president of commercial lending at 21st Century Bank; Caleb Schmidt, ’17 MBA, partner of Duco Capital; and JR Bascom, the vice president of Talus Holdings, offering clarity on weighing debt and equity instruments for transaction close.

In the final session, “Post-Closing Integration,” as panelists—Dipesh Patel, ’06 BSB, the president and CEO of DP Gayatri; Jay Scahetti, ’13 MBA, the founder of Bundl Home; Zach Leonard, the owner of Display Sales; and Reg Zeller, the founder and CEO of CaneKast—shared established practices for integrating acquired businesses and ensuring sustained value creation. Attendees utilized structured networking sessions throughout the day, connecting with peers and industry leaders.

The following sponsors made the 2025 ETA conference possible: Fredrikson & Byron, P.A., Redpath, Janeiro, Security Bank & Trust Co., Fafinski Mark & Johnson, 21st Century Bank, EntreBank, DP Gayatri, Live Oak Bank, Pioneer Capital Advisory LLC, Scale Bank, EO Minnesota, Magnifi Financial, Boulay, and SMB Law Group.