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Family business members' insights on navigating succession process

Published May 24, 2018 Kent Rhodes | Advisers

Running a family business can be complicated. This is especially true when it comes to preparing for a smooth transition of ownership, leadership and governance to the next generation. What is the bes...

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Succession plans must incorporate liquidity planning for the family

Published May 24, 2018 Amy M. Kane | Advisers

The path from starting up a business to planning your exit is a winding one, with plenty of speed bumps and potholes. One of the biggest potholes results from the failure to include liquidity planning...

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Turning sweet prunes into smooth skin

Published May 24, 2018 April Hall | Departments

Sure, you’ve heard of making lemonade out of lemons. How about making skincare products out of plums?The Taylor family in California is doing just that. Fourth-generation sisters Jacqueline, Allison...

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Celebration Corner: U.S. Engineering Company's 125th anniversary

Published May 24, 2018 Barbara Spector | Departments

The Business: Gustav Nottberg established Nottberg Iron and Machine Works in Kansas City, Mo., in 1893, several years after immigrating to the United States from Cologne, Germany. Nottberg had opened ...

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At the Helm: Raymond Crosby

Published May 24, 2018 Patricia Olsen | Departments

Generation of family ownership: Second.Revenue: $27 million.Number of employees: 80.Years with the company: 31.First job at this company: Account executive for local businesses. I managed their advert...

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Dueling Perspectives: Helping a NextGen employee to succeed

Published May 24, 2018 Barbara Spector | Departments

The Renfrew Center, founded in 1985 by Sam Menaged as an eating disorder treatment center in Philadelphia, today encompasses 19 facilities in 13 states and has treated more than 75,000 women.Sam, 70, ...

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Prescient patriarch

Published May 24, 2018 Caro U. Rock | Departments

At our recent Transitions East 2018 conference, family business members and experts discussed essential issues: good governance, leadership development, sound management and more. My father-in-law, Mi...

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Show me the money

Published May 24, 2018 Barbara Spector | Departments

When families have grown a company over generations, the decision to sell a stake in the business is often an emotional one. Sometimes the whole family wants to exit. In other cases, some shareholders...

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Creating shareholder liquidity: A checklist before going public

Published May 24, 2018 Allan Grafman | Feature Article

There is now a real investor desire, and even a need, for strong companies to be in the public markets. According to a May 2017 Ernst & Young report, the number of domestically incorporated U.S. l...

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Family offices: 'Quiet capital'

Published May 24, 2018 Maureen Milford | Feature Article

Private equity and strategic buyers aren’t the only suitors pursuing family businesses today.Family offices, those low-key organizations formed to manage the wealth of ultra-high-net-worth families,...

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Selling to private equity

Published May 24, 2018 Maureen Milford | Feature Article

When Charles Scheidt learned in early 2012 that his sons were not interested in taking over the family’s specialty foods company, he knew he had to make some hard decisions for the good of his busin...

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Private equity pros and cons

Published May 24, 2018 Maureen Milford | Feature Article

The way Charles Kittredge sees it, private equity took his family’s company, Crane Currency, to a new level. That’s saying a lot for a business that’s been around for 217 years.Ten years ago, th...

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The ABCs of PE

Published May 24, 2018 Maureen Milford | Feature Article

Private equity investors know good opportunities when they see them. And right now, their eyes are trained on family enterprises.For starters, these savvy investors know that profitable family busines...

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A buyout without bitterness

Published May 24, 2018 Barbara Spector | Feature Article

What began as a more or less regular gathering of the four Flanagan brothers for high-level discussions about ownership of their business took a new turn in the fall of 2012. Two of the siblings, Murr...

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Do you consider your investment advisor someone you can’t live without?

Published May 20, 2018 Whittier Trust |

The caricature of the grey-suited investment advisor who picked mutual funds and called once a quarter to check in is quickly becoming a Mad Men-like relic. Today’s financial services include everyt...

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Privately owned family businesses should not ignore investor relations

Published March 16, 2018 Travis W. Harms | Advisers

Visit the website of any publicly traded company, and you will find a link to the “Investor Relations” section. The purpose of the investor relations function is to promote effective communication...

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Family corners the restaurant market

Published March 16, 2018 April Hall | Departments

The building at the corner of Caroline and Meigs streets in Rochester, N.Y., has been home to a number of establishments bearing the name “Dicky’s”: Dicky’s Restaurant, Dicky’s Bar and, now,...

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Celebration Corner: Scotchman Industries' 50th anniversary

Published March 16, 2018 Barbara Spector | Departments

The Business: Arthur (“Art”) Kroetch, a native South Dakotan with an eighth-grade education, started working for farmers and ranchers and then opened a junkyard and repair shop. To keep busy betwe...

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At the Helm: Natalie Kaddas

Published March 16, 2018 Patricia Olsen | Departments

Generation of family ownership: Second.Company revenue: Between $5 million and $10 million.About the company: Kaddas Enterprises, a 100% woman-owned company, manufactures thermoformed plastic parts fo...

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Dueling Perspectives: Governance for a family in transition

Published March 16, 2018 Barbara Spector | Departments

The family that owns Milo B. Butler & Sons Ltd. is a legend in the Bahamas. The company’s founder, Sir Milo Boughton Butler (1906-1979), was the first Bahamian-born governor-general of the Baham...

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