It is with some justification that Theodore “Teddy” Forstmann, the founder of Forstmann Little & Company, is described in aviation circles as “the man who saved Gulfstream.”
Teddy Forstmann, the man who was credited with turning around Gulfstream Aerospace in the 1990s, died Sunday, reportedly from brain cancer. His investment firm, Forstmann Little, acquired Gulfstream in 1990 for $800 million.
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