Exit Algorithms
Why He Said No to Private Equity and Sold to His Staff | Chris Burke (#115)
22:18
Private equity circled his firm with lucrative offers, until he read the fine print: five-to-seven-year tie-ins and clawbacks that wiped out everything if he was not there at final exit. So Chris Burke sold Brickendon to his own employees instead, through a UK Employee Ownership Trust, and paid no capital gains tax. Chris started Brickendon in 2010 with a mortgage advance, a laptop, and no…