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Business Strategy
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Succession: handle with care

Darren.Smith's avatar
Darren.Smith
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12 months ago

Six areas to consider for a successful business transition.

Our industry is a vibrant community of passionate and professional individuals with a common purpose: helping clients achieve what's important to them in life and/or getting them from point A to poin...
Updated 12 months ago
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practice management
Retirement
succession
deborah.kent's avatar
deborah.kent
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5 months ago

Darren.Smith thanks for the article when you sold the business had you already sold equity to those inside the business? did they happily go to the new entity? I also assume you sold on a multiple of profit rather than revenue.  Also did you stay in the business for a while to transition the clients 

  • Darren.Smith's avatar
    Darren.Smith
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    5 months ago

    deborah.kent 

    We had a large number of our team as equity holders . We also had some ex founders still with equity.  The plan always was a trade sale and the outcome needed to be right for a broad range of stakeholders including myself.

    the bulk of the team were able to maintain their employment and also get a crystallisation event for their equity participation . For those still in the business they are part of largely the same team looking after exisiting clients with an owner who wants to invest and grow the business. no one likes change but they are all very well placed to have strong career opportunities from this event ..

     

     

     

     

     

     

     

     

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