My guest today is Brent Beshore, Founder & CEO of Permanent Equity. Permanent Equity invests - with no intention of selling - in family-held companies headquartered in North America. With 9 portfolio companies and a current capital base in excess of $300 million, the firm seeks opportunities to invest in and partner in companies with $2.5 million to $15 million in annual owner earnings and durable value propositions. The firm's current portfolio includes companies in aerospace, niche construction, manufacturing & distribution, consumer products, recruitment, and niche professional services.
Brent and I discuss the unique qualities of Permanent Equity – it is a private equity firm in the sense that they buy equity in private companies, but the reality is they operate completely differently from a traditional firm. Permanent Equity’s investments value the following:
Long-Term Hold: Investing out of 27-year committed funds Debt: Typically fund transactions without debt
Legacy: Maintain independence, the brand, and rarely publicize our investments
Growth: Help companies get bigger by augmenting the skills and resources of the existing leadership team
Cultural Continuity: Uphold strong cultural values and maintain a strict no assholes policy
Permanent Equity invests in good businesses and works to make them better. They optimize for sturdy success, not exit. Their sellers care what happens after close, valuing organizational stability and long-standing relationships with employees, customers, suppliers, and their community. They want a fair deal with people they can trust, and for their people to be taken care of.
My conversation with Brent takes an unexpectedly deep turn as we discuss family, messy lives, pain, and tragedy. But the overall message is to live life well and find joy and happiness in the moment.
I am your host, Thomas McGannon.
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The Messy Marketplace-Brent Beshore
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