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You’re not even 30 yet, and you’ve just acquired L’Amour du Pain in Montreal. Congratulations! Before diving into the details of the company, let’s take a step back and discuss your background. What motivated you to transition from a career in finance to the ETA path?
My career in finance gave me invaluable skills in analyzing businesses, managing risks, and making informed decisions. However, I felt a strong desire to work on something more tangible, having a concrete impact on people and being accountable for my efforts and decisions. The ETA path allowed me to combine my analytical background with my passion for building something meaningful and lasting. I was particularly motivated by the idea of owning and operating a business that could have a direct, positive impact on its employees, customers, and community.
You spent over two years at Snowdon Partners, where you gained expertise in the SF model. Why did you decide to pursue the “self-funded” path instead of following the traditional SF model?
The self-funded path appealed to me because it provided greater autonomy in decision-making and allowed me to structure the acquisition in alignment with my goals and values. It also gave me the flexibility to adapt quickly to opportunities without the constraints of a traditional search fund framework. Additionally, I felt it was the right fit for the scale and type of business I was targeting, where a leaner approach was more appropriate.
How was your search process, and what were the key factors that allowed you to find the right business so quickly—under 10 months, if I’m not mistaken? When evaluating businesses, what specific financial and cultural characteristics were you looking for, and how did L’Amour du Pain align with those criteria?
The search process was intense and stressful at times but ultimately rewarding. Finding the right business in under 10 months came down to thorough preparation and a deep understanding of the territory I was searching in. Unlike most searchers, who target opportunities across entire countries (50 states in the U.S., 10 provinces in Canada, etc.), I focused exclusively on the province of Quebec, a relatively small territory. Being a francophone in Quebec gave me a meaningful advantage, as many business owners communicate primarily in French, allowing me to build trust and foster stronger connections. Quebec is where I’ve spent my entire professional career, and the network I’ve built over the years played a crucial role in finding the right business quickly.
That said, you can’t deny that a bit of luck is always involved. Being at the right place at the right time when the opportunity shows up is a factor we all rely on to some extent. I was looking for businesses with strong financials, stable revenues, and a strong local identity. Equally important were cultural elements like a committed team and a product or service that resonated with the community. L’Amour du Pain stood out with its strong brand, passionate employees, and a resilient business model.
Ultimately, you succeeded in structuring the deal without involving external investors, stepping away from the SF model. How did you manage this, and how challenging was the negotiation process?
Structuring the deal without external investors was a deliberate decision to maintain strategic independence. I used a combination of bank debt, personal funds, and creative deal structuring like earnout, seller financing and seller rollover to close the transaction. The negotiation process was challenging but built on transparency and mutual respect with the seller. Establishing trust early in the discussions was crucial.
You’ve mentioned that Evelyn Trempe remains involved in the business during the transition. What are the biggest advantages of having the previous owner onboard, and how has this partnership influenced your leadership style so far?
Having Evelyn involved has been a tremendous asset. She brings not only a deep understanding of the company’s history and values but also extensive business knowledge and experience. Her coaching on managing employees, handling delicate situations with suppliers or customers, and running a direct-to-consumer (D2C) business has been invaluable. Her presence has ensured continuity and allowed me to learn the nuances of the business more quickly. This partnership has influenced my leadership style, teaching me the importance of preserving the company’s legacy while infusing it with a fresh and innovative perspective to move it forward.
With four locations already, how do you plan to scale the business while preserving the artisanal craftsmanship and quality that define the brand? What are your long-term goals for the company’s growth?
The goal is to scale the business while staying true to the core values that have made us successful: exceptional quality and craftsmanship. Every product we offer is made by hand using locally sourced ingredients—a commitment that will remain at the heart of everything we do.
Looking ahead, I envision Amour du Pain growing to 10 locations over the next five years. The greatest challenge—and our top priority—is achieving this growth while preserving the artisanal touch that defines our brand. Thoughtful expansion, without compromising on quality, will be key to our continued success.
Your approach has diverged from the traditional SF path. How did you compensate for the lack of mentoring during the search phase? Do you think you might miss that guidance now that you’re fully leading the company? Based on your experience, what advice would you give to aspiring entrepreneurs considering business ownership?
I’ve surrounded myself—and continue to do so—with a strong network of advisors for guidance. These are individuals with exceptional experience in the field and in running businesses, and their insights have been invaluable. Equally important is building a team you can trust. This has been critical for me, as I’ve approached this process solo.
Beyond this, my message to people considering ETA is simple: once you’ve made your business plan, know the numbers make sense, and you’re driven by the idea of owning a business, don’t overthink it—just jump. Most people hesitate because they overanalyze every detail, and that can paralyze you. Taking the leap is the hardest part, but it’s also the most rewarding. Owning a business has been the most fulfilling professional experience of my life, and I wouldn’t trade it for anything.
What lessons from your experience in finance have been most applicable to running a business, and on the flip side, what new skills have you had to develop as an operator?
My experience in finance has been immensely valuable in running a business. It provided me with the ability to analyze financial statements, assess risks, and make data-driven decisions—crucial skills for managing cash flow, creating budgets, and planning for sustainable growth. Additionally, working in a small, entrepreneurial private equity team helped me become resourceful and autonomous, qualities that are essential for managing a small business.
On the flip side, this role requires a very different set of skills. Leadership and people management have been some of the most significant areas of growth, particularly when it comes to building relationships with employees who have diverse motivations, understanding their needs, and fostering a positive culture. I’ve also had to become more hands-on and agile, learning to solve operational challenges quickly and adapting to unexpected situations. I am continually learning and growing, which makes the journey both challenging and incredibly fulfilling.
