AB new 2022 TF team (1 Viewer)

[ocdart]

I can speak from my experience.

A lot of private equities treat acquired businesses like a house flip. They pump the company up no matter how it has to happen. As long as it appears to have consistent growth they can unload it on the biggest sucker.
The company I worked with was a family business for almost 65 years. I remember when all the family members disappeared and management brought in were all outsiders. Within a few years a private equity took it over. You would not believe the play with numbers. I would point out incorrect and skewed data at meetings to the point I had high up managers nudging me prior to them appearing on the screens as if to beg me to keep quiet. They even had one 53 week year to meet sales goals. A lot of shady stuff going on.
This company had their first $100 million sale year less than 5 years prior to selling for $321 million. It is depressing to look back at the years I and others spent building a business only to have this private equity treat everyone like garbage. They cashed out after cheating all of us out of money with restructuring, ignoring the business agreement we had with them and flat out not paying correctly which is why I dropped them over a year before they sold out. I was continually told to hang on because new owners would have to pay us 5 to 1 to get rid of us. I told this person there is no way that would happen considering the way they were currently doing business. It was sold and the few people left after me had to get a class action suit against the equity for not paying the agreed amount just as I expected.
The current owners changed the business model thinking they could cut out the middleman and save money. You can hardly find this product anymore and when you do it has a very limited selection.

Same thing happened to the company I was working for 20+ years ago. Family sold out and after a year of promises and lies I was shown the door after 17 years in management of one of the divisions of the company.

 

[mikebcurve]

Happy for Antron. I see him as the future Don Prudhomme. Very likable and very driven to win. If I was a business looking to throw money at drag racing he would be the direction I would look to go.

 

[Pete]

Same thing happened to the company I was working for 20+ years ago. Family sold out and after a year of promises and lies I was shown the door after 17 years in management of one of the divisions of the company.

I've had that happen a few times in my career, albeit not after 17 years. Worked for small companies, who got taken over by large conglomerates and all promised that nothing would change. fast forward a year or so and we were all on the unemployment line