A way out for a family business not wanted by next generation

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Where The Business Was

  • Family business that had been operating for 30 years
  • Owners wanted to exit and transition the business to their children

Problem

  • Second generation did not want to take over the business

Solution

  • Groom business for sale to an outside party

Implementation

  • Prepared transition strategy
  • Over a 3 year period we worked with the owners to get the business ready for sale
  • New systems and procedures were established
  • Negotiations with prospective purchaser were undertaken on behalf of owners

Results

  • As a result of our work, the business doubled in turnover in 3 years
  • The business was eventually sold to a public company
  • The owners were able to successfully exit the business and retire in comfort