Sometimes a business isn’t just a business. Sometimes it’s a legacy.
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 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 a succession plan for you that’s realistic, rewarding and robust.
Succession planning means deciding who’ll take over your business when you retire, and how. A succession plan may include strategies for:
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. 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:
We’ll ensure everything’s in place for a smooth transition. You can count on our expertise in succession planning – our team’s experience clocks in at over 60 years.
We’ll design a buyout that suits everyone, taking into account business valuation, ownership structure, finance options and tax.
We’ll help your successor fund the buyout. There are plenty of options – ranging from bank and equity finance to loan notes (which are essentially an IOU to you).
We can bring in reliable solicitors and business tax experts to ensure your business succession is watertight and tax efficient.
We’ll manage the buyout to completion, giving you time for business as usual. But our support doesn’t stop there: we’ll guide you through the transition and touch base for months to come.
Get in touch for an informal chat about developing a succession plan. All calls are confidential, and our team will be honest and practical about your options.