Building AVARY: My Journey of Resilience and Family

As I reflect on the journey to founding AVARY, I see a decade-long path filled with challenges, failures, learning, and growth. AVARY may seem like a newly established startup, but it is the culmination of years of dedication, perseverance, and a deep understanding of the world of mergers and acquisitions (M&A) and the global succession crisis.

My fascination with M&A began with a simple realization: it is one of the fastest and most effective tools for business growth. This insight ignited a relentless pursuit of knowledge and self-development. Early in my career, I worked as a director for a listed Singaporean company, where I was immersed in large-scale development projects and corporate acquisitions. Yet, the road was far from smooth. I experienced the harsh realities of the corporate world when I was unexpectedly fired while struggling to support my expecting wife. This was a defining moment for me, reinforcing my commitment to prioritize family over career ambitions, no matter the cost.

Embracing Failure and Learning

Building AVARY while raising two young children taught me resilience like nothing else. There were numerous setbacks along the way—business deals that fell through, partnerships that didn’t materialize, and countless rejections from brokers who demanded proof of funds that I simply didn’t have. In those early days, I was intrigued by the idea of acquiring businesses with little or no capital, using creative financing strategies and other people's money (OPM). However, turning theory into practice proved much harder than I had anticipated. I faced failure after failure, losing both time and personal savings in deals that went nowhere. These experiences were tough, but they were also invaluable learning opportunities that honed my skills and sharpened my resolve.

Despite the skepticism and the failures, I refused to give up. I invested heavily in my education, enrolling in an Executive Program at Oxford University's Said Business School. There, I delved into the world of private investments and leveraged buyouts (LBOs), learning from some of the brightest minds in the field. This investment in my education was substantial—both in terms of time and money—but it was a critical step in building the foundation for AVARY.

Family Legacy and Succession

Personal experiences with family succession issues deeply influenced my business philosophy. I took over my late grandfather's property development venture to preserve his legacy, only to realize how unprepared I was for the complexities of family business dynamics. Later, I left a thriving business to manage my father's small enterprise after he was diagnosed with a debilitating illness. These experiences highlighted a startling statistic: only 30% of SMEs successfully transition to the second generation. It became clear to me that protecting family legacies needed to be at the heart of AVARY's mission.

Through my ventures, I learned the importance of creating businesses that can operate independently of their owners, ensuring sustainability and growth even as leadership changes. To achieve this, we have focused on implementing streamlined management systems that automate processes and reduce the need for constant oversight. At AVARY Group, our approach is to allow each acquired company to operate with a high degree of autonomy while aligning with a common set of core values and strategic goals. This management model encourages innovation and leverages local expertise, fostering an environment where each company can thrive on its strengths.

Financial Struggles and Investments

The road to building AVARY was not just paved with strategic insights and innovative ideas but also with substantial financial risks. I invested significant personal funds into acquiring and turning around small businesses, some of which didn’t pan out as expected. There were times when cash flow was so tight that I had to dip into savings set aside for my family. Every failed investment was a hard pill to swallow, but it also became a stepping stone towards refining our acquisition strategy and improving our due diligence processes.

I learned the importance of patience and the need for a long-term perspective in business. It wasn’t just about acquiring businesses; it was about acquiring the right businesses, those that aligned with our mission of preserving legacies and promoting sustainable growth.

Looking Forward

Today, I lead AVARY with a team of world-class talents, driven by a vision to address the global succession crisis and build one of the largest groups of SME companies in the world. But this journey is far from over, and it is not one I want to undertake alone. We are looking for people who believe deeply in our vision to join us—those who are committed to making a difference and have the courage to face challenges head-on. With great minds and passionate hearts working alongside us, we will make things happen and achieve great success.

My vision extends beyond business success; it includes creating a supportive environment for families and ensuring the preservation of business legacies. This journey has been one of courage, resilience, and a steadfast commitment to balancing personal and professional aspirations.

Through the ups and downs, the failures and the triumphs, I have uncovered a once-in-a-lifetime opportunity within the global succession crisis, driven by the impending Great Wealth Transfer. My story is a testament to the power of resilience, innovation, and a deep understanding of what truly matters to business owners. Building AVARY is not just about business growth; it’s about building a future where family, legacy, and business success coexist harmoniously.