Steven E. Staugaitis, CPA, CVA
Director, Audit & Accounting
Entrepreneurial Services Group Leader
Family Business Services Specialist
Center for Private Company Excellence Specialist
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. In many cases, this high level of dissatisfaction is caused by two issues. First, the owner approaches a very complex set of issues too narrowly by focusing only on the price. Second, the owner does not adequately plan for their transition from a business or financial standpoint, and so they are not prepared when the time is right.
At Kreischer Miller, we have significant experience helping private company owners achieve their transition goals by addressing three important processes via business succession planning:
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. Ultimately this will be a transaction that best meets the owner’s objectives. While it can take many forms, the execution of the strategy typically takes one of these paths:
The right business succession strategy for each company is different, based on the owner’s goals and the economics.
At Kreischer Miller, we have conducted dozens of private company transitions and offer a full complement of resources including valuation, deal structuring, financing, estate planning, and governance to take the transition from start to finish.
Interested in Kreischer Miller’s business succession planning and transition services for the company you’ve built? Read our timely article on owner financial readiness. You can also contact us to discuss our services and your particular business transition needs.