Today, I sit down with my good friend Wiley Curran to break down the story behind CPC, a family-built perpetual holding company that buys and holds businesses indefinitely.

We also discuss how CPC approaches acquisitions, management incentives, and organizational design to create enduring value across industries.

We discuss:

• The evolution of CPC from a family chemicals business to a multi-company holding group
• Why long-term ownership outperforms short-term investing strategies
• How to build companies around customer intimacy and employee satisfaction
• The “five key battles” CPC uses to evaluate and improve every business
• Lessons learned from buying, integrating, and supporting 14 companies over time

Topics:

(00:00:00) - Intro
(00:03:12) - Running a CEO search
(00:08:26) - The story behind CPC
(00:23:39) - The importance of customer intimacy
(00:37:02) - CPC's long-term vision and employee engagement
(00:40:33) - Executive ownership and equity
(00:41:29) - Structuring equity buyouts
(00:42:58) - Valuation and liquidity rights
(00:44:49) - Investment strategy and business acquisition
(00:47:11) - Sourcing and evaluating business opportunities
(00:50:14) - Onboarding and integration of new businesses
(01:03:09) - Customer lifetime value and profitability
(01:09:13) - Board meetings and CEO summits
(01:14:36) - AI experiments and business impact
(01:18:30) - Future vision and personal goals

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