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Episode 82

Mark Sullivan Lineage Capital

Feb 11, 2026 54 min 29 sec

Overview

Mark Sullivan rips the bandaid off of decades of repressed memories about past dealings with Andy and Charlie to join the show Mark is co-founder and partner at Lineage Capital, one of the leading private equity firms devoted to leaving growth-minded business owners with board control, even after selling a majority stake. If this sounds familiar, it’s because Lineage and Charlie’s firm New Heritage Capital (NHC) evolved out of a common predecessor. Discussions commence with Mark and Charlie’s apocalyptic meeting in 1998, then circles back to Mark’s Atlanta childhood, college at Washington & Lee and early career. Superb discussion about non-control investing and some fancy footwork from Andy when Mark asks who he would show a deal to first — Lineage or NHC.

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