I formed Semper in 2018 after spending 13 years buying and selling dozens of companies—first as an advisor and later at two manufacturing companies.  During that time I learned that many small business owners care deeply about the future of their company and are often dissatisfied with their buyer options—unfortunately, some do not recognize this until it’s too late.

• Private equity firms are short-term focused, often burden purchased companies with so much debt that there’s little cash left to invest in business and sometimes try expanding short-term profits by laying off employees. These are not good for a business, but this playbook is about making money for the private equity partners and their investors—not the business you built. Not all private equity firms follow this approach, but many do and they are also notorious for trying to re-cut deals at the last minute.
• Strategic buyers generally buy for the long-term and rarely use excessive amounts of debt, but they typically integrate acquired businesses into their existing operations, which often results in lay-offs and the loss of your company’s culture, name or both. Additionally, many public companies are very focused on quarterly reporting, which often detracts from a business’s long-term performance.

During the past several years, I also realized that many talented mid-career business people are dissatisfied with their career options.  Climbing the ladder at a major operating company usually means lots of moving and compensation is often disconnected from individual performance.  Many of these emerging leaders would love the challenge of running a small business, but they do not know how to transition and cannot stop or slowdown working to figure it out because they have families depending on them.

Finally, I learned that there are many very successful retired executives who are looking for a way to invest that takes advantage of their expertise.  Those who succeeded at large companies, can usually realize this ambition through corporate boards, but those who did well at smaller firms do not have this option.

Semper solves these three problems at once by bringing together small business owners looking to sell and retire; proven mid-career business leaders who have the capabilities and interest to build upon a strong foundation; and experienced investors who want to leverage their time, talent and capital.  We buy good businesses from owners who care about their business’s future.  We operate with a long-term perspective and partner with employees to build upon your success.  Many of my colleagues are also veterans and we think our experience of leading in challenging environments will help your business.

Semper is the first word in the Coast Guard’s motto, Semper Paratus, which is Latin for Always Ready.  Coast Guard men and women often abbreviate that to Semper and pride themselves on being over-achievers who are always ready to answer duty’s call.  I picked Semper as our firm’s name because of the importance of the Coast Guard in my life, because we like to hire veterans and because we strive to over-achieve whenever we get called.