Menu
The Phillips family owned a successful manufacturing company established over 40 years ago. With the founder approaching retirement, there was uncertainty about who would take over the business as the next generation pursued different careers.
The family needed a plan to transition the business without disrupting operations or diminishing its value. They were considering selling but were concerned about preserving the founder’s legacy and the livelihood of 500 employees.
Facilitated discussions among family members to explore options and address concerns, ensuring alignment on the way forward.
Conducted a thorough valuation, identifying that the company was valued at $150 million and highlighted areas for potential value enhancement.
Evaluated internal succession possibilities and identified key executives who could lead the company.
Advised on preparing the business for sale, enhancing financial performance, and marketing to potential buyers aligned with the family’s values.
Developed a comprehensive plan for managing the sale proceeds, including diversified investments, tax planning, and establishing trusts.
The business was sold for $180 million to a buyer committed to maintaining operations and staff. The Phillips family secured their financial future, and the founder’s legacy continued through a $10 million endowment they established to support local community projects.
© 2024 Tackitt Family All rights reserved.
Welcome to Tackitt Family. We use cookies to enhance your browsing experience, personalize content, and analyze our traffic. By continuing to use our site, you accept our use of cookies.