Gabriel Erhenfeld is not the business man he presents himself to be. This is the experience I had with him. I would be interested to hear if others have had similar experiences.
In the second half of 2013, he negotiated to purchase a company I had spent 9 years building. He met me a number of times, went through the process and finalised the sale late in the year. The sale value was promaily for shares in an ASX listed company (Reeltime Media - ASX:RMA) that he was working to bring back to quotation on the ASX. He and the company bought many similar companies in the preceding 12 - 24 months. You can read about it on his LinkedIn profile.
Contractually he was obliged to remove my personal guarantees from things like company cars and credit cards (yes this was specifically stated in the contracts.)
I went along with the new business as a BDM for the region, as did all my former employees. So I had an interest as a minor shareholder of this bigger business, plus as an employee.
4 months after the sale of my old business, without going into details, it appears Gabriel and the senior management team had a bit of a fight. They could not resolve their differences and between them destroyed all the business they had purchased. At the writing of this report RMA and all the businesses within it are in the hands of administrators. As the business declined due to these greedy, dishonest bullies, staff stopped getting paid (for months while being assured everything was ok), customers had direct debit payments continually being deducted from their bank accounts for services they were not gettiing, I had visability of my company's bank account at the time and I continued to see these lump sum deductions being paid into one of Gabriel's other companys - and even ATM deductions. So to put this into perspective, while he was not paying employees - he was making deductions from an ATM into his pocket.
No-one has a job anymore, thousands of small businesses were completely ripped off - and there seems to be no money left. As the director of my old business, Gabriel never paid superannuation to any of my former staff following the sale - even prior to the fight with senior management. I'm personally owed tens of thousands in non-paid employment entitilements alone.
As stated above, one of the things Gabriel was obliged to do was remove me as personal guarator on company liabilities. He never did this, despite me following up numerous, numerous times. I even supplied the paperwork to him. But it goes further than that. He actually seized one of the company vehicles (the most expensive one), has left the registration lapse, and has not notified the administrators it even exists. For all we know it is sitting in a garage somewhere, waiting for the storm to blow over, so he can drive away in his new car.
Obviously - he decided to stop all payments to the finance company, so now I find myself with a letter of demand for another $40,000 as guarantor - for a car Gabriel currently seems to be in possession of.
I have passed all this information to the administrators - who seemed shocked - they didn't even know the car existed. They were given no information at all about my company despite being appointed to wind it up.
I have a young family, a wife and 3 kids. Gabriel has come to my home and met my family. Despite this, this is how he behaves. I know there are many other business owners who were worsely dealt by Gabriel Erhenfeld during this time. I'd be interested to hear if anyone else has had similar experiences in other companies he is also a board member of.
If Gabriel Erhenfeld approaches you to buy your business - my advice is to run. Seriously, you don't need people like this in your life, in a personal or professional level.
Gabriel Erhenfeld Reviews
Gabriel Erhenfeld is not the business man he presents himself to be. This is the experience I had with him. I would be interested to hear if others have had similar experiences.
In the second half of 2013, he negotiated to purchase a company I had spent 9 years building. He met me a number of times, went through the process and finalised the sale late in the year. The sale value was promaily for shares in an ASX listed company (Reeltime Media - ASX:RMA) that he was working to bring back to quotation on the ASX. He and the company bought many similar companies in the preceding 12 - 24 months. You can read about it on his LinkedIn profile.
Contractually he was obliged to remove my personal guarantees from things like company cars and credit cards (yes this was specifically stated in the contracts.)
I went along with the new business as a BDM for the region, as did all my former employees. So I had an interest as a minor shareholder of this bigger business, plus as an employee.
4 months after the sale of my old business, without going into details, it appears Gabriel and the senior management team had a bit of a fight. They could not resolve their differences and between them destroyed all the business they had purchased. At the writing of this report RMA and all the businesses within it are in the hands of administrators. As the business declined due to these greedy, dishonest bullies, staff stopped getting paid (for months while being assured everything was ok), customers had direct debit payments continually being deducted from their bank accounts for services they were not gettiing, I had visability of my company's bank account at the time and I continued to see these lump sum deductions being paid into one of Gabriel's other companys - and even ATM deductions. So to put this into perspective, while he was not paying employees - he was making deductions from an ATM into his pocket.
No-one has a job anymore, thousands of small businesses were completely ripped off - and there seems to be no money left. As the director of my old business, Gabriel never paid superannuation to any of my former staff following the sale - even prior to the fight with senior management. I'm personally owed tens of thousands in non-paid employment entitilements alone.
As stated above, one of the things Gabriel was obliged to do was remove me as personal guarator on company liabilities. He never did this, despite me following up numerous, numerous times. I even supplied the paperwork to him. But it goes further than that. He actually seized one of the company vehicles (the most expensive one), has left the registration lapse, and has not notified the administrators it even exists. For all we know it is sitting in a garage somewhere, waiting for the storm to blow over, so he can drive away in his new car.
Obviously - he decided to stop all payments to the finance company, so now I find myself with a letter of demand for another $40,000 as guarantor - for a car Gabriel currently seems to be in possession of.
I have passed all this information to the administrators - who seemed shocked - they didn't even know the car existed. They were given no information at all about my company despite being appointed to wind it up.
I have a young family, a wife and 3 kids. Gabriel has come to my home and met my family. Despite this, this is how he behaves. I know there are many other business owners who were worsely dealt by Gabriel Erhenfeld during this time. I'd be interested to hear if anyone else has had similar experiences in other companies he is also a board member of.
If Gabriel Erhenfeld approaches you to buy your business - my advice is to run. Seriously, you don't need people like this in your life, in a personal or professional level.