Like many other successful entrepreneurs, Scott Young wasn’t looking to sell his company. He wanted to continue to build a strong business with a one-of-a-kind culture filled with employees focused upon helping clients (and each other). The environment was vital to him, “I want to have fun and enjoy what I am doing. I want to be known for building a great company, focused upon relationships, flexibility, and uniqueness. We do not want to become just another company that looks like everyone else,” he explained. Then New Charter came along, and soon PennComp became the first founding company.
For business owners that want to stay in the game after an acquisition, a heavy-handed “in your business” approach is a significant concern. However, that is not what Scott experienced with New Charter, “I was worried about a significant degree of pressure, control, and a push to uniformity; instead they just kept asking the same question, ‘How can we help you?’” He continued, “Our experience has been anything but a parental dictatorship. It’s not been at all what I thought it would be; it’s MUCH better. It’s collaborative and open. We are running our business, and they are here to offer support, leadership, guidance, and capital. New Charter has set the bar high by only partnering with successful companies performing in the top quartile of the industry. It has been one of my favorite seasons of running a business, despite the economic downturn and changes in every-day life due to COVID.”