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The Story of Pekin Cleaners

From selling a family business to helping others make their exit plans.

As I reflect on my journey from running Pekin Cleaners to founding Ashland Capital, I am reminded of the many twists and turns, challenges, and triumphs that have shaped my path in the world of business. My experiences with Pekin Cleaners were instrumental in shaping who I am today and have equipped me with the expertise and passion to lead Ashland Capital with confidence. 

Continuing A Family Legacy of Entrepreneurship 

My connection to the world of business runs deep, even before I was born, starting with my family’s business, Pekin Cleaners. Founded by my grandfather in 1919, Pekin Cleaners grew from humble beginnings to become a thriving enterprise with over 50 retail stores in Chicago by the 1960s. When my father married into the business in 1951, he took the helm, leading the company through periods of growth and adaptation.

Evaluating Industry Changes and Adapting

The dry cleaning industry underwent significant changes in the 1970s, prompting my father and uncle to pivot towards the uniform rental business. This period of transformation taught us valuable lessons about the importance of agility and adaptation in the face of evolving market dynamics. These experiences instilled in me a deep appreciation for resilience and innovation.

Stepping into Leadership

My journey with Pekin Cleaners began in 1987 when I was drafted into the family business. Initially focused on administrative efficiency, I soon found myself taking on greater responsibilities, eventually leading the entire operation. Through the 1990s, Pekin Cleaners thrived, serving a diverse clientele that included major corporations and institutions like United Airlines, The Coca-Cola Company, and more. 

Crafting A Successful Exit Strategy

In 2003, I made the pivotal decision to sell Pekin Cleaners, culminating in a successful sale to the Aramark Corporation in 2004. This experience was transformative, as I played a central role in every aspect of the selling process, from preparing financial documents to negotiating with potential buyers. It was during this time that my passion for exit planning was ignited, setting the stage for the founding of Ashland Capital. 

Bringing This Passion to Ashland Capital

Today, as the Principal Advisor of Ashland Capital, I am driven by a deep sense of purpose and dedication to helping business owners navigate the complexities of selling their companies. My experiences with my own family business have provided me with invaluable insights and expertise, allowing me to guide our clients with empathy, precision, and a commitment to excellence. 

A Journey of Growth and Resilience

My journey from Pekin Cleaners to Ashland Capital has been a journey of growth, resilience, and entrepreneurship. The lessons I learned along the way have shaped the core values of our methodology at Ashland and continue to inspire our mission of empowering business owners to achieve their exit goals. 
 
We look forward to being with you on your journey.