Our Exit Planning Specialists Can Help You Achieve Your Private Company’s Transition Goals

At Kreischer Miller, we have conducted numerous private company transitions and offer a full complement of resources including goal setting, valuation, deal structuring, financing, estate planning, tax ramifications/analysis, and governance to take your transition successfully from start to finish.

The process of transitioning a private company is easily the most complex issue facing owners. For many, it is the largest and most important transaction they may ever be involved with.

Studies have shown that as many as 75 percent of transitions do not meet the owner’s goals. The owner can approach a very complex set of issues too narrowly by focusing only on the price. And, the owner often does not adequately plan for their transition from a business or financial standpoint, so they are not prepared when the time is right.

Are you a private company or family business owner thinking about your exit strategy? Contact us to share your plans and learn more about how we can help you achieve a successful transition that meets an owner’s and the company’s goals.

Our Business Succession Planning Process
Identifying the Right Business Transfer Channel for Your Company

Our Business Succession Planning Process

We help private company owners achieve their transition goals through three important succession planning processes:

  • Business readiness – Preparing your business from a leadership succession and a financial standpoint. This process often involves changing the governance structure and improving financial reporting, internal controls and processes, and accountability, so your business is prepared to function in the future without the current CEO/owner.
  • Owner financial readiness – Helping the owner understand their personal financial picture and lifestyle needs now and in future retirement.
  • Owner mental readiness – Helping ensure the owner is clear about their next-stage goals and the extent to which they will be involved in the business going forward. This does not necessarily mean a complete separation from the business, but it does involve a change in roles, which takes time to consider.

Identifying the Right Business Transfer Channel for Your Company

One of the most important parts of our process is helping the exiting owner identify their motives for the transition, which will dictate which transfer channel is the best fit for the company. While it can take many forms, executing the strategy typically takes one of these paths:

  • Partial or full outside sale to a third party
  • Inside sale to next generation family members
  • Inside sale to non-family business partners
  • Transfer to family members via gifting and estate planning
  • Inside sale to employees or an ESOP
  • Retaining ownership as a family legacy asset

The right business succession strategy for each company is different based on the owner’s goals and the economics.

Our Business Succession Planning Process

We help private company owners achieve their transition goals through three important succession planning processes:

  • Business readiness – Preparing your business from a leadership succession and a financial standpoint. This process often involves changing the governance structure and improving financial reporting, internal controls and processes, and accountability, so your business is prepared to function in the future without the current CEO/owner.
  • Owner financial readiness – Helping the owner understand their personal financial picture and lifestyle needs now and in future retirement.
  • Owner mental readiness – Helping ensure the owner is clear about their next-stage goals and the extent to which they will be involved in the business going forward. This does not necessarily mean a complete separation from the business, but it does involve a change in roles, which takes time to consider.

Identifying the Right Business Transfer Channel for Your Company

One of the most important parts of our process is helping the exiting owner identify their motives for the transition, which will dictate which transfer channel is the best fit for the company. While it can take many forms, executing the strategy typically takes one of these paths:

  • Partial or full outside sale to a third party
  • Inside sale to next generation family members
  • Inside sale to non-family business partners
  • Transfer to family members via gifting and estate planning
  • Inside sale to employees or an ESOP
  • Retaining ownership as a family legacy asset

The right business succession strategy for each company is different based on the owner’s goals and the economics.

Transition/Exit Planning Specialists

Steven E. Staugaitis, CPA, CVA

Steven E. Staugaitis, CPA, CVA

Director, Audit & Accounting, Small Business Advisory Services Group Leader, Family-Owned Businesses Group Co-Leader
Mario O. Vicari, CPA

Mario O. Vicari, CPA

Director, Family-Owned Businesses Group Co-Leader, ESOP Group Leader

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Contact us to learn how we can help you achieve a successful transition that meets an owner's and the company's goals.
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