Congratulations! After years of growing your business from an idea to a multi-million-dollar business, you’ve partnered with a private equity firm, have available growth capital like you’ve never imagined, and you’ve taken some “chips off the table”. But now you realize that you have never had a business partner or a Board of Directors and a cold sweat ensues as you begin to wonder how to get off on the right foot with your new private equity partner.
As an Operating Partner for New Harbor Capital and an Executive Chair of several of our portfolio companies, I’ve worked with many business owners as they navigate these changes. Included below are some tips for developing a strong partnership that maximizes mutual value in your private equity relationship.