Where The Business Was

• Second generation family owned heating and air conditioning installation business
• Owner looking to transition business to third generation

Problem

• As an owner and a father, our client was deeply concerned that none of his adult children had expressed interest in taking over the family business
• While two of his children were in operating roles in the business, he was equally concerned about the potential family conflicts and other business problems that had begun to surface

Solution

• In order to determine if or how to involve the family members in the business transition, ROCG was engaged to identify needs and expectations of various stakeholders
• This process included all family members and key employees

Implementation

• We identified technical, organizational and personal issues which were dependent on the success of any transition process
• We identified the requirements for a successful transition
• We reviewed all the options available for a family purchase of the business
• We presented the stakeholders with the best options
• We implemented a short-term action plan for the project to succeed

Results

• As a result of our work, the owner and all other possible stakeholders had all of the elements to implement a business transition plan in which the interests of all concerned could be met