How He Timed His $230M Exit — Then Did It Again

He sold his company for $230 million right before oil prices collapsed. It wasn't luck — it was a board meeting. Thomas Chance joins The Deal Podcast to share what 30+ years of building, selling, and starting over actually looks like from the inside.Thomas Chance is a serial entrepreneur, engineer, and Louisiana native who built CNC Technologies into the world's largest privately held offshore survey company — 600 employees, 10 offices worldwide, $25M EBITDA — then sold to Oceaneering in 2015 for $230 million. He then spun off and built ASV (Autonomous Surface Vehicles), a pioneering unmanned marine technology company, and sold that to L3 Technologies (now L3Harris) in 2018. His father before him built and sold a landmark survey company in 1991. Now his sons are doing the same.Topics covered:Following his father's entrepreneurial path from civil engineer to company founderBuilding a pre-GPS satellite positioning system in the 1980s (before GPS existed)The emotional reality of leaving a family business after a saleHiring the people a new acquirer just laid off — and why it workedGrowing CNC Technologies to 600 people and the world's largest private offshore survey firmWhy a board of advisors (not PE) told him to sell — and why he listenedTiming the $230M exit before the 2015 oil crashCarving out the autonomous underwater vehicle division at closeBuilding ASV and selling driverless boat technology to L3 HarrisStartup advice: learn the industry first, then go start your company🔗 Website: https://www.thedealpodcast.com/ Jude David on LinkedIn: https://www.linkedin.com/in/jude-david-jd-dcl-mba-172a6a76/ Joshua Wilson on LinkedIn: https://www.linkedin.com/in/joshuabrucewilson/YouTube: https://www.youtube.com/@dealpodcast Powered By: FA Mergers https://www.famergers.com/📩 Want to be a guest or have a topic suggestion? Reach out via LinkedIn or our website.🎧 Subscribe and leave a review so you never miss an episode!Curious what your business is worth? Request your free valuation at famergers.comDisclaimer: Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The Deal Podcast is presented by FA Mergers and is produced for informational and educational purposes only. Nothing discussed constitutes investment advice, legal or tax advice, a solicitation, or a recommendation to buy or sell any security or to pursue or avoid any transaction. All views and opinions expressed by the hosts, co-hosts, and guests are their own and do not necessarily reflect the positions of FA Mergers, One Iron Network LLC, any regulatory agency, or any employer. Listeners should consult their own legal, financial, and tax professionals before making any business, financial, or transaction decision. This podcast does not constitute a solicitation or recommendation for any financial products or services.Let's Connect on LinkedIn:https://www.linkedin.com/in/joshuabrucewilson/To Contact Us, Please Visit:https://www.thedealpodcast.com/contact/