Warren Buffett's former deputy is launching a support program for mid-sized businesses
- Warren Buffett's protégée is launching a support program for medium-sized companies.
Tracy Britt Coolleft Buffett's Berkshire Hathawaylast year to cofound Kanbrick, and the investment firm now plans to help a handful of executives boost their companies' long-term growth.
- "Many businesses are facing challenges in the wake of this unprecedented year, and the 'Build with Kanbrick' program allows us to partner and build relationships with founders, owners, and CEOs," Britt Cool said in an emailed statement.
- Britt Cool joined Berkshire in 2009 as Buffett's financial assistant, and went on to chair the boards of several Berkshire businesses and serve as CEO of another one,
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Warren Buffett's former lieutenant is rolling out a support program for mid-sized companies, offering a select few executives the chance to learn from someone who worked closely with the famed investor for a decade.Tracy Britt Cool left Buffett's Berkshire Hathaway conglomerate last year to launch Kanbrick, a long-term investment firm. "Build with Kanbrick" is a free, three-month program that will select up to five business owners and CEOs and help them to accelerate their companies' long-term growth.
"Many businesses are facing challenges in the wake of this unprecedented year, and the 'Build with Kanbrick' program allows us to partner and build relationships with founders, owners, and CEOs," Britt Cool said in an emailed statement.The course was developed "based on our learnings building and growing great businesses at Berkshire Hathaway, Pampered Chef, and here at Kanbrick," she and her team say on the program's website.
Participants will receive an assessment of their companies' opportunities, one-on-one sessions with the Kanbrick team, group sessions with guest experts, access to tools and resources, and entry into an exclusive community to network with other executives.Read more: Goldman Sachs says to buy these 29 stocks poised to deliver the strongest sales growth through year-end Kanbrick doesn't plan to invest in the chosen businesses, as its main goal is to boost their long-term value and build relationships with their bosses.
However, the attributes it's seeking - a long-term focus, family- or founder-owned, based in North America, an enterprise value of up to $500 million, and between $10 million and $50 million of annual pre-tax income - suggest it may view the program as a pipeline for future acquisitions.
Britt Cool joined Berkshire as Buffett's financial assistant in 2009. She went on to chair the boards of several Berkshire subsidiaries and serve as CEO of another one, Pampered Chef.She cofounded Kanbrick with ex-Pampered Chef CFO Brian Humphrey. The pair closed their first deal last July, taking a stake in Thirty-One Gifts.
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