The headline this week about EPI Companies closing its doors reinforces my long held belief that the keys to success such as passion, consistent employee communications, and commitment to "making it work" for customers don't easily transfer from an entrepreneurial owner to a private equity owner.
EPI Companies was a successful company while under the ownership of Bill Woods, who grew it from a small mom and pop operation into an industry leader. As an entrepreneur, Bill had a feel for the business that went beyond the numbers. He built the company to where it had real M&A value and timed it perfectly, selling at the right time to the right buyer for the right price with the right structure.
Fast forward several years and now the private equity firm buyer shut down EPI Companies after struggling to keep it afloat. The new owners were never were able to replace the entrepreneurial success factors provided by Bill, that's the bottom line.
Meanwhile, Bill is now my colleague, having joined the NAPL Print Consulting Group within the past few months. I am certain his experience and judgment will be a valuable asset to our clients on whether and how to build their business for eventual sale. Do yourself a favor and check out his blog ThePrintCEO.org.
Comments