Case Study – Family Business Advisement
A current ownership team for a manufacturer of lighting systems for residential and commercial markets wanted to explore the options available to them for transitioning out of the business, either through selling to a younger generation of employees, an ESOP, or an outright sale to another entity. They lacked a clear strategic plan, a cohesive management team, and effective policies and procedures.
From the outset, we knew the company needed to build a more sophisticated management team, one that could support the company as it actively pursued its growth strategy. Working closely with the owners, we identified growth opportunities and then worked to mold a team designed to meet the specific needs of these opportunities. We worked to facilitate greater team cohesion as they began to solve challenging issues, and create sustainable procedures.
With a management team that is now more in sync, empowered, and working together to meet clear goals and objectives, the company is better positioned to achieve a successful transition in ownership.
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