Succession Planning

Identifying a Successor 

When the time comes for ownership transition it can be a difficult and challenging process. Even under optimal circumstances, there are several issues that must be considered and addressed proactively before the process can begin. Issues such as company valuation, identifying and developing future leaders, retaining key employees, and transaction structuring are at the top of a long list. This is the case whether the company will be sold to a family member, key man or group, or outside suitor. In order to achieve the best outcome possible, it’s essential to start the planning process as early as possible to allow the time needed to work through major decisions.

JLK Rosenberger has significant experience working with business owners and Boards of Directors to conduct successful succession planning. We understand the issues and challenges faced in the process and work closely with clients to help guide them through common challenges and roadblocks. The result is a process that ensures a smooth leadership transition and leaves the company (and selling owner) in the best position possible.

Our Succession Planning Services Include:

  • Creating and helping to execute an exit strategy and timeline
  • Identifying the appropriate candidates for leadership positions
  • Conducting a business valuation
  • Buy/sell agreements and preparing the business to receive the best terms and price in a merger or acquisition
  • Facilitation of communications to family members, clients, and outside stakeholders as needed
  • Maintenance of financial liquidity
  • Assistance with reorganization or choice of entity structure
  • Transaction structuring to ensure the optimal amount of taxes are paid

Take the Next Step

If you have questions about succession planning or would like to start the process for your company, JLK Rosenberger can help! For additional information click here to contact us, or reach out to one of the professionals listed on the right. We look forward to speaking with you soon