Latest / The Turn: Blue Collar to Billions
He Sold His Parents' Paving Company in 30 Days, Then Called to Tell Them
Family businesses are messy, and adding private equity to the mix often creates a powder keg. Erik Guggenheim shares his journey of scaling his family’s specialty carbon fiber construction firm and making the brutal decision to buy out his parents.
Operating a self-funded contracting business requires massive upfront capital for projects, a cash flow cycle that Wall Street analysts rarely grasp. Erik outlines how a seemingly lucrative exit transformed into a battle over project financing when backward-looking investors clashed with the demands of forward-looking construction contracts. He…
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