When this is the case, succession planning is crucial. A good succession plan can reward you financially, protect your business and give its new owner the best chance of success.
Our team of expert corporate finance accountants has spent decades helping owner-managers hand down their businesses. We know that personal motives are at the heart of business succession – so we’ll listen carefully and find practical ways to satisfy them. Together, we’ll create an exit strategy for you that’s realistic, rewarding and robust.
Are you a senior manager looking to buy into the business? If so, go to our management buyouts and buy ins page.
What is succession planning?
Succession planning means deciding who will take over your business when you retire, and how. This plan will include strategies for the following:
- Training your successor
- Enabling them to buy the company
- Managing the transition
- Ensuring a successful future for the business
Management/family succession buyouts
A succession buyout is a way to hand over your company to management or a family member.
It’s essentially a management buyout that’s tailored to business succession. Because of this, a succession buyout is sometimes called a VIMBO (vendor-initiated buyout). Or, in the case of family succession, a FAMBO.
We craft succession buyouts that work for everyone involved, to meet all desired requirements. That means giving you a good price, your successor a good opportunity, and your business a good future.
It also means creating a great experience. After all, a business succession doesn’t happen every day: it should be a proud moment for you and your successor alike. So, we make the process as satisfying and stress-free as possible.
Here’s how we’ll manage your succession buyout:
