Preparing next gen leadership for transition

Advance preparation can be helpful in creating a smooth transition in ownership, particularly for manufacturers owned by Boomer founders seeking retirement.

“When company owners prepare for a sale or transfer of leadership, they must be able to clearly and effectively communicate with the next generation about how to best steer the organization through these choppy waters.”

This observation is in the July edition of Industry Week written by Jack Finning, a partner at AAFCPAs in Boston. His vantage point is from providing advisory to closely-held businesses.

Finning specializes in business transaction advisory services for both buyers and sellers of private companies, and no doubt has seen the good and the bad in both.

“Transitions can be difficult, and the manufacturing industry is currently on the edge of an incredible wave of changes,” he comments in the article. “Understanding the cultural and organizational details is a critical part of ensuring that the company’s legacy will be secure in the hands of the new leaders.”

What our clients are saying...

“I wanted to thank both of you on behalf of Equity Management Partners for the helpful and very professional manner in which you managed the sale of New England Techni-coil, Inc. As you know well, these types of transactions are often long and complicated and I doubt it could have been successfully completed without your close ongoing involvement.”

- Thomas, Partner

New England Techni-Coil