LOOKING FOR ANOTHER YOU
SUCCESSION: COMPANY OWNERS
sooner or later, you, the owner of the company, will have to face the facts: you’ll need a successor. If all goes well, you will be able to determine at which point you want to sell your company, but unforeseen circumstances may force your hand. What if you are no longer able, for instance because of health reasons, to lead your company and make such decisions?
Transfer of your business requires careful preparation
As the transfer of a business and/or succession represents a critical phase in your company’s life cycle, you’ll need to carefully prepare for this. Research shows that entrepreneurs tend to procrastinate when it comes to selling their business and selecting a successor. As a rule of thumb, we recommend that you start the planning process at least 4 years before the eventual sale.
Selling your company; finding the right candidate requires a tailored approach
When it comes to transferring your company, selecting the right successor(s) is paramount. These may be your children or your current management (team), or, perhaps, neither. We can help you find the right external candidates when handing over your company to your children or to current management is not an option.
A Management Buy-In (MBI) is a specific type of acquisition transaction, in which the buyer is a person or group of people who will continue to fulfil or take on operational roles in your company. These are the MBI candidates. In recent years, MBI has gained popularity among sellers and buyers as a suitable way of arranging succession. An MBI candidate is often an experience manager with the ambition to be an entrepreneur, whose management qualities are served better in an existing company that at a start-up. Sometimes, an MBI can be a feasible option for established entrepreneurs who are looking for a new challenge.
We can help you find an MBI candidate who is the right fit for you and your company. We can help you look for ‘another you’, or, should market conditions require this, a ‘new you’. We will gladly meet with you and discuss your desires and preferences with regard to suitable candidates.