Nick Bock
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Hey Nick — different paths but we both ended up in PE. been thinking a lot about proprietary origination in residential/commercial services lately. would be good to connect.
Hey Nick, we both landed in PE though from pretty different angles — I came through banking at CS & Greenhill in London rather than building an owner-operator portfolio like you. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record. the people, tools and ideas were never really connected. every deal virtually sourced from scratch, nothing compounding over time. curious if that's still how most funds operate or if I'm behind the times? — Russ
Hey Nick, looks like we both ended up in PE, though from different directions — I came through IB at CS & Greenhill in London into growth equity, not building a portfolio from scratch in the services space like you've done at 31st Street. the pattern I keep seeing with most funds is weirdly consistent — strong thesis, solid network, but no proprietary system of record. the people, tools and ideas are never really connected, so every deal is virtually sourced from scratch. nothing compounds on itself. curious if that resonates or if you've built something different given how acquisition-heavy the 31st Street model is? — Russ
hey Nick — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from Pitchbook or Grata, maybe using ChatGPT to help qualify, dumping it into a spreadsheet. each piece kind of works, but there's no system of record tying it together. the people, tools and ideas are all disconnected, so there's tonnes of wasted energy. been helping a fund like Mentmore work through that exact thing. curious if you've run into the same at 31st Street? — Russ
totally get it if origination infrastructure isn't top of mind right now — most funds have 10 things ahead of it on the priority list. the funds I've seen crack it early just tend to compound deal flow in a way that's hard to replicate later. if it ever moves up the list, I'm easy to find. — Russ
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Nick — Noticed you went from IT director and running a tech company to acquiring and scaling flooring businesses through 31st Street Capital — that's a pretty unusual arc. I went from banking and growth equity in London to building something of my own too, though in a very different direction. I was spending more time hunting deals than evaluating them — so I built SearchLoop to fix it. Backer Group in the UK uses it to source service and light manufacturing businesses for acquisition — map companies across target geographies → score them on fit criteria → reach owners directly and book meetings. The whole system plugs into their CRM so everything's visible. Given you're actively acquiring in the residential remodel and builder space — businesses in that $5-20M revenue, $500K+ EBITDA range — there's a version of this that maps directly onto your thesis. We've already done adjacent work in services and trades. Happy to jump on a quick call and show you what a pipeline looks like for that sector. Russ searchloop.ai linkedin.com/in/russellt23
Prospect Research
## PROSPECT INFORMATION: Name: Nick Bock Title: Co-Founder Fund: 31st Street Capital Background: Name: Nick Bock Current Role: Co-Founder at 31st Street Capital (Lincoln, Nebraska) Current Focus: Nick is an active entrepreneur and investor specializing in the acquisition, management, and growth of small to medium-sized businesses through his firm, 31st Street Capital. His current portfolio is heavily focused on the flooring and home services industry, with recent acquisitions including Premier Flooring (Louisville), Floors for Living (Houston), Total Flooring (Chicago), and Floor Source (Phoenix). He also serves as a Board Member for B&R Stores, Inc. and is actively seeking new acquisition targets with $5M-$20M in revenue. Background: He has a long-standing history in the IT and Managed Services (MSP) sector. He was the CEO and Co-Founder of Five Nines Technology Group for nearly 12 years (2006–2018), building it into a leading IT partner in Nebraska. His earlier career includes roles in pharmaceutical sales at Pfizer, IT Director roles, and a stint as a high school computer and business teacher at College View Academy. He holds a BA in History and Computer Education from Union Adventist University, where he served as Senior Class President. Key Skills: Entrepreneurship, Strategic Planning, Mergers & Acquisitions (M&A), Managed IT Services, Team Leadership, Sales Process, and Business Coaching (EOS/Traction). Personal Interests/Hooks: He is a vocal advocate for the "Entrepreneurial Operating System" (EOS/Traction) and high-performance leadership. He is a frequent speaker at industry events like FloorCon. He takes great pride in his son Derek’s entrepreneurial journey (specifically his "Trailblazers" podcast). Direct Quotes & Post Highlights: * July 15, 2024: Reposted content regarding the value of networking, noting the importance of interacting "with those you wish to be like." * July 13, 2023: Shared thoughts on the commercial real estate market and execution: "Fantastic thoughts and a great analogy for many industries. Those that work hard and execute will win over the next few years!" * February 9, 2023: Promoted his son’s podcast: "My son, Derek Bock, started his own podcast recently... I'd encourage anyone who is passionate about entrepreneurship to check it out!" * August 19, 2022: On the acquisition of Premier Flooring: "Incredible when you can find an opportunity like this where values align and there is so much momentum." He added a personal note about his partner Erin Stutzman needing a "Fascinator" hat for the Kentucky Derby. * December 6, 2021: Celebrating a 40% year-over-year growth at Flooring Expo by Carpet King: "40% year over year growth is hard work! So proud of this team!" * June 1, 2021: Praised his banking partners at Five Points Bank after the Total Flooring deal: "The easiest part of the whole deal? Financing... If you are looking for a community bank to be a long term partner...check them out." * February 11, 2021: Outlined his ideal acquisition target: "5-20 million in revenue... 500k in EBITDA... Have a team that is ready to grow, and not afraid of change." * May 19, 2020: On military leadership lessons applied to business: "I've been reading Extreme Ownership by Jocko Willink... The concept of stopping, relaxing, prioritize and EXECUTE...was one that really struck home." * February 13, 2020: Reflected on a goal board he saw at a Westin restaurant: "It’s not always about how much money we throw at people. The right goals and strong leaders are in many situations more effective than just cash." Fund details: - Description: 31st Street Capital is a family owned Private Equity Company that was founded October 1, 2018 by Nick and Erin Bock. We were at a time in our careers where we were ready for a change and had an opportunity to do exactly what we were passionate about. We set our Vision, Core Values and where our passion lies. We used these as our guide to acquire our first company in April of 2019. We are unique in that we acquire companies with the goal of holding and growing them long term. We are intentional about choosing the right companies to add to our portfolio. We believe in making an impact with our employees, our companies and in our communities - Website: https://31stcapital.com - Location: Lincoln, Nebraska, United States - Lead qualification: Research: - Query: =31st Street Capital Nick Bock recent investments fund thesis - Answer: Nick Bock's 31st Street Capital focuses on long-term growth through acquisitions. Recent investments include Total Flooring and Flooring Expo. Bock's firm emphasizes operational excellence and community impact.