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TheStartupMag
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Michael Polk Shares How Smaller Companies Can Offer Big Leadership Development Opportunities
- Michael Polk, an experienced executive of large public companies, says smaller private companies have great potential for offering leadership development opportunities.
- Polk has worked at Procter & Gamble, Kraft Foods, Unilever, and Newell Brands where he served as CEO.
- In 2020, Polk was appointed to lead the transformation of Private Equity firm Berkshire Partners’ portfolio company, Implus LLC.
- Polk attributes the growth he sees in smaller private companies to the fact that it offers leaders the chance to develop deep, wide-ranging competencies and expertise.
- Leaders in small private companies deal with leadership moments much earlier than their counterparts in large companies, offering them the chance to learn by doing.
- Polk says accountability for delivery is no different as CEO of a large public company or a mid-cap private company like Implus LLC.
- Although he was the CEO of a multi-billion-dollar public company from 2011 to 2019, he says that his current role as CEO of Implus LLC is the time of his professional life.
- In his current role, Polk spends much more time doing brand and business development work with his team.
- Polk considers the accountability for driving value creation, which he had at Newell Brands, the same as at Implus LLC.
- According to Polk, the biggest difference he experiences at Implus LLC is that he gets to work directly with his team in the crucible, which makes his work even much more fun.
- In conclusion, smaller companies offer leaders the chance to develop deep, wide-ranging competencies quicker than in large public companies.
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Pymnts
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Private Equity Activity in Tech Sector Picks Up Amid VC Pressure
- Investors are seeking returns from VC companies and startups despite a weakened IPO market.
- VCs and older startups are trying to create liquidity by selling to private equity.
- Private equity firms are growing more active in the tech sector.
- Tech companies accounted for 28.3% of total PE deal value in the third quarter.
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Funded
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Image Credit: Funded
New Businesses Must Avoid: Cybersecurity Mistakes
- Starting a business without a cybersecurity plan is a common mistake. Entrepreneurs are often focused on finances, marketing, and customer acquisition, putting cybersecurity at the bottom of the list.
- Investing in reputable antivirus software, firewalls, and other security tools is essential from day one. These tools act as the first line of defense against malware, ransomware, and other threats.
- Weak passwords are a common entry point for cybercriminals. Avoid using generic passwords like “12345” or “password,” and instead, create strong, unique passwords for all accounts and systems.
- Before launching, conduct regular training sessions to teach employees about phishing scams, secure password management, and safe browsing habits. Awareness is key to creating a security-conscious workplace.
- Data backups are essential for every business. Cyberattacks, such as ransomware, can render data inaccessible, putting operations at a standstill. If you don’t have data backups, your business could suffer catastrophic losses.
- Use device encryption, install security software on mobile devices, and require strong authentication for access. These steps can help safeguard sensitive business information on the go.
- Ensure your business adheres to these data privacy standards before launch to avoid potential legal issues.
- If your business relies on third-party vendors or service providers, their security practices can impact your own cybersecurity. Failing to vet vendor security protocols can open up vulnerabilities.
- By avoiding these common cybersecurity mistakes, you’re taking critical steps to protect your new business from cyber threats.
- Setting up a secure foundation from the start will allow you to focus on growing your business with confidence.
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Guardian
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Curzon cinema chain acquired by Poundstretcher owner Fortress
- US investment firm Fortress, which owns Poundstretcher and Majestic Wine, has acquired the British arthouse cinema chain Curzon.
- Curzon, with 16 cinemas across the UK and over 350 employees, was purchased for an undisclosed sum.
- Curzon was put up for auction along with its distribution arm and streaming platform earlier this year.
- The acquisition by Fortress will secure the jobs of 350 staff and allow Curzon to continue offering independent and blockbuster movies.
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Fourweekmba
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Image Credit: Fourweekmba
Summary Generator
- Summarizing effectively is an essential skill for project managers who need to make sound decisions. It involves identifying and communicating the key points to readers.
- The definition of summary is a shortened version of a longer piece of writing, which highlights the most important points to give readers an idea of its contents.
- Before writing a summary it is important to research the source material thoroughly by taking accurate notes on key points and verifying all facts.
- Summaries should be concise, focus on the main points, be objective, and use appropriate tone and language.
- When editing and revising, it is important to check for any grammatical errors, verify facts, and ensure overall content quality.
- The best practices for writing summaries include focusing on the main points, maintaining objectivity, staying concise, and double-checking work for accuracy.
- Project managers should ensure their summaries are accurate representations of the original source material while still being succinct enough for busy readers who need quick access to essential information.
- Additional topics related to communication such as encoding, models, communication strategies, and communication theories are discussed in the article.
- By understanding and implementing the steps outlined in the article on writing summaries, project managers can improve their communication skills and help their startups achieve success.
- Improving communication skills is essential for project managers as it helps them quickly and effectively capture the key points of a document or presentation, which is a vital component for startup growth.
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Peprofessional
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SK Forms Axillon Aerospace, Carves Unit from Parker Hannifan
- SK Capital has completed its carve-out acquisition of the North America composites and fuel containment division of Parker Hannifin (CFC Division) for $560 million.
- The acquired business now operates as Axillon Aerospace, an independent provider of carbon fiber composites and fuel solutions for the aerospace sector.
- Axillon Aerospace offers lightweight composite airframe structures, aerodynamic components for engines, radomes, ice protection systems, and crash-resistant fuel containment systems.
- Under SK Capital ownership, Axillon operates six manufacturing facilities, employs approximately 1,700 people, and generates annual sales of around $350 million.
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Peprofessional
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Gridiron Buys Medical Education and Information Provider
- Private equity firm Gridiron Capital has acquired Health Monitor Network, a provider of medical education and information services for patients and healthcare professionals.
- Health Monitor offers a range of educational products and services, including digital waiting room screens, exam room posters, interactive digital tools, and targeted email campaigns.
- The company operates a network of over 450,000 healthcare professionals across 250,000 physician offices, reaching more than 20 million patients.
- Gridiron is investing in Health Monitor in partnership with its existing management team, while WestView Capital Partners retains a minority equity interest.
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Peprofessional
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Aterian Carves Label Maker from Heartwood’s M&Q
- Aterian Investment Partners has acquired Outlook Group, a provider of pressure-sensitive labels and packaging
- Outlook Group offers design, printing, and converting services for pressure-sensitive labels, flexible packaging, and folding cartons
- Heartwood’s M&Q Holdings acquired Outlook Group in October 2016 and expanded its manufacturing capabilities during its ownership
- Aterian Investment Partners aims to drive growth for Outlook Group through organic initiatives and mergers and acquisitions
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Peprofessional
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StepStone Steps Up for Shrieve Chemical
- Gemspring Capital has completed a single-asset continuation fund for Shrieve Chemical, a portfolio company under Gemspring’s ownership since December 2019.
- The new fund organized with lead investor StepStone Group acquires Shrieve Chemical and allocates capital for follow-on investments and operational needs.
- Shrieve Chemical is a distributor specializing in industrial chemicals, fluids, specialty lubricants, and operates across four divisions.
- Gemspring and Shrieve plan to utilize additional financial resources to expand and remain a consolidator of choice in the chemical distribution industry.
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Funded
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5 Ideal Approaches to Achieve Business Growth in 2025
- As we approach 2025, businesses need to adapt by implementing innovative, customer-centric, and technology-driven approaches.
- Integrating AI and automation to enhance efficiency, reduce costs, and deliver more personalized customer experiences is crucial in achieving business growth in 2025.
- Sustainability is an essential business imperative in 2025, offering multiple benefits, such as reducing costs, improving brand image, and uncovering new revenue streams.
- Prioritizing customer experience (CX) and personalization can significantly increase customer retention and acquisition in 2025 through data-driven recommendations and omnichannel engagement.
- Digital tools and platforms can optimize processes, improve productivity, and expand reach to a global presence required in 2025 to achieve business growth.
- Upskilling and reskilling the workforce is essential in 2025 to ensure adaptability to new technology and market demands.
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Hitconsultant
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HGP Releases Health IT Private Equity Investment Trends for 2024
- Healthcare Growth Partners (HGP) and Eliciting Insights surveyed private equity investment professionals focused on the Healthcare and Health IT sectors.
- Valuations and activity in the Health IT market have declined, but investment and exit activity have increased.
- Buyout and growth equity funds show resilience, while venture capital funds experienced more pronounced declines.
- AI is a significant focus in Health IT investing, primarily as a tool to enhance operations.
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18 Likes
Peprofessional
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Oliver Packaging Switches Sponsors
- Oliver Packaging and Equipment Company has been acquired by Monomoy Capital Partners from Berwind Capital.
- Oliver Packaging manufactures heat-seal food packaging systems, bakery equipment, and meal trays.
- Monomoy Capital Partners will support Oliver Packaging's growth as an independent platform.
- Berwind Capital acquired Oliver Packaging in 2012 and has now sold it to Monomoy Capital Partners.
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26 Likes
Peprofessional
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Blue Sage’s Baker Manufacturing Carves Pump Division from A.Y. McDonald
- Baker Manufacturing Company has acquired the pump division of A.Y. McDonald Manufacturing.
- Baker Manufacturing specializes in water well equipment, rotary gear pumps, and castings for various applications.
- A.Y. McDonald will now focus on water works, plumbing, and natural gas products.
- The water pump market is expected to grow, driven by increasing demand for efficient water management solutions.
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15 Likes
Peprofessional
1M
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Through Western Vet, TPG Twin Brook Builds Relationship with Tyree & D’Angelo
- TPG Twin Brook has increased its credit facilities to Western Veterinary Partners, a Tyree & D’Angelo Partners (TDP) portfolio company.
- WVP operates over 250 veterinary hospitals across more than 35 states, with estimated annual revenues of nearly $290 million and EBITDA of more than $100 million.
- TPG Twin Brook has led seven facility upsizings, increasing the total debt offered to WVP to over $700 million.
- TPG Twin Brook focuses on loans to private equity-owned companies, while TDP makes control investments in North American-based companies.
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Peprofessional
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A Plethora of “A’s”: ATL’s Aero Accessories Acquires Aero Instruments & Avionics
- Aero Accessories & Repair, a provider of aerospace MRO services, has acquired Aero Instruments & Avionics.
- Aero Instruments & Avionics specializes in avionics and electronics MRO services.
- Aero Accessories & Repair specializes in MRO services for aerospace components involved in fuel, hydraulic, pneumatic, and power generation.
- AAR's acquisition of AIA bolsters its position in the commercial aviation aftermarket and expands its capabilities offerings.
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