Private equity can be both a boost and a hindrance for business growth.
It’s the end result that will usually determine its value.
Several business owners who have turned to the funding source or deal with it directly discussed their experiences Thursday with almost 90 members of the North Florida Chapter of the Association for Corporate Growth at Epping Forest Yacht Club.
The panel discussion, “Selling To, and Living With Private Equity,” was moderated by Mac Holley, Heritage Capital Group principal. It featured panelists Beth Angelo, Body Central Corp. executive vice president and chief merchandising officer; Michael Grebe, Interline Brands president and CEO; and Roger Mullins, former CEO and shareholder of ITEL Inc.
Angelo said the turn to private equity was not a smooth one because of a change in management and style, but in the end turned out OK.
Mullins talked about the change in culture that accompanies an influx of new partners with potentially different ideas for success.
The panelists agreed that preparation and research was the key to a smooth transition before turning to private equity.
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