ACG Raleigh Durham hosted its inaugural event in Greensboro, North Carolina, earlier this month, featuring a local business owner who spoke to attendees about his experience selling his company to a private equity-backed strategic buyer.
Ken Fearn, the founder and former CEO of ABT Power Management, discussed the 2016 sale of his battery systems business to Total Fleet Solutions, a company backed by CI Capital Partners. Despite growing up as part of a family that ran its own business, Fearn said he founded ABT Power Management with the intention of one day selling the company—not continuing it as a family-run enterprise.
He also spoke about building the company, innovation, and what it was like to be part of a private equity roll-up acquisition. Fearn remained with the company for two years post-acquisition. It was later sold to PE firm Harvest Partners.
Interest in ACG within the Greensboro business community led to the Nov. 8 event, which drew 86 attendees. It was hosted by executive recruiting firm Charles Aris and sponsored by the law firm Fox Rothschild.
Kathryn Mulligan is editor in chief of Middle Market Growth.