Succession
Sooner or later, a business owner(s) looks toward retirement from the business through management succession, sale, merger, or liquidation. Regardless of the owner's intent, analysis and planning are necessary to make a difficult transition smooth and seemless to the operations of the business and relationships with customers, suppliers, and creditors.
Compass Business Group, Inc. can assist through:
- Assessing the options available through analyzing financial and management operations,
- Determining the effects of each alternative on business operations and establishing the tasks to be completed to implement each option.
- Analyzing existing employment contracts and the inclusion or omission of certain contract items including adjustments to existing employment contracts, details of non-competition clauses, relative compensation, and terms of contingencies which should be addressed.
- Analyzing buy-sell agreements, methods of valuation for estate purposes, and equity options for key personnel.
- Assisting in the recruitment and/or training of personnel to fill gaps in management responsibility.
- Creating and assisting in implementation of management and financial plans to ensure a smooth transition to the new operating format or entity.
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