
A Wharton friendship became a Florida buyout firm. Thirty years later, Marc Leder is still asking what an overlooked business could become - with an art curator’s curiosity and an operator’s attention to the work.

From factory-second clothing in Manchester to industrial carve-outs, Michael Flacks has built a career buying what other owners want to leave behind. The bargains come with obligations, and the next chapter reaches from steelworks to a football club.