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Mark Leonard Quotes
24 quotes from Mark Leonard — Founder and president of Constellation Software, which acquires and manages vertical market software companies..
“We like managers who think out of the box and make decisions that only fit in the 'Shareholder Value Creation' framework.”
“One of our directors has been calling me irresponsible for years...”
“Constellation Software is the best serial acquirer in the world.”
“When you would have invested $10,000 in Constellation Software at the IPO in 2006, your investment would be worth $2 million today.”
“We are focused on acquiring niche software companies with loyal customer bases and strong market positions.”
“The power of compounding is often underestimated in the business world.”
“Our goal is to create long-term value for our shareholders through disciplined capital allocation.”
“We believe in the importance of a decentralized management structure.”
“Success in business is about making the right decisions at the right time.”
“We prioritize companies that have a strong competitive advantage.”
“The best investments are often those that are not obvious.”
“Our approach is to be patient and disciplined in our acquisitions.”
“Constellation's objective is to be a perpetual owner of inherently attractive software businesses.”
“Our favorite and most frequent acquisitions are the businesses that we buy from founders. When a founder invests the better part of a lifetime building a business, a long-term orientation tends to permeate all aspects of the enterprise.”
“The longer we have owned a small software business, the larger and better it has become.”
“We continue to seek longer-term capital to defuse the fundamental mismatch inherent in buying permanent assets with short-term debt.”
“If everything you do needs to work on a three-year time horizon, then you're competing against a lot of people.”
“The best businesses are those that can be held indefinitely.”
“We believe that the best way to create value is to focus on the long term.”
“Our approach is to build a decentralized organization where managers have ownership.”
“Patience and continuous improvement can unlock significant value in an acquired business over time.”
“We look for businesses that have a strong culture and a commitment to their customers.”
“Acquisitions should be about finding businesses that fit well with our existing operations.”
“The key to success is understanding the unique characteristics of each business we acquire.”