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Those who joined the San Diego Business Journal for its CEO of the Year Awards presentation on Sept. 30 may have had their first introduction to Ryan Peddycord, CEO of Tide Rock Holdings. Tide Rock Holdings was the Gold Sponsor for the San Diego Business Journal's 12th annual event, and as Tide Rock's CEO, Peddycord welcomed all to the ceremony.
Peddycord recently sat down with the Business Journal to discuss the issues he faces as a CEO and his business in general. What follows is a conversation with Peddycord:
Tell us about Tide Rock and why you are passionate about your company.
As an entrepreneur who has sold several companies, I know how challenging it can be to find the right buyer for a business you've built and managed. On one side, it's not appealing to sell to a strategic buyer. Such a buyer is a company you've competed against for many years, one who may lay off a number of your staff and roll your brand into their company and dissolve your brand over time. On the other side, there are a lot of negative perceptions associated with selling to Private Equity. You assume that a Private Equity firm will finance the sale of your company by putting a bunch of bank debt on it, and then when they own your business, they'll cut costs and make drastic changes so they can flip it (sell it) quickly to make a profit.
I have had the experience of working with several different types of investors and boards, and have found that interests are often misaligned. I started Tide Rock Holdings because I wanted to solve these challenges - that is, to work with owners and founders of really high quality companies and build upon their legacies. At Tide Rock, we don't use bank debt to buy companies. We work with teams and help support their efforts to build upon the brand and legacy. And because we don't have a mandate to sell companies, we can grow them long-term.
What makes Tide Rock unique from other prospective buyers of a business?
To founders and owners looking to retire or sell their business, Tide Rock provides an alternative to strategic and financial investors that takes the best...