Repositioning a Family Business for Generational Succession and Global Competitiveness

Hahn Loeser partner Stephen H. Gariepy was a featured speaker at the 2016 National Conference of Attorneys for Family-Held Enterprises.

The Chair and former CEO of a medical equipment manufacturer shared the story of how the family-controlled corporation became a pioneer in medical manufacturing, and how a multi-pronged transaction repositioned the business and its ownership group for global competitiveness.  Joining the CEO on the panel were the business consultant and Steve Gariepy who together led the transaction team. The discussion focused on the challenges and hidden liabilities that put the corporation’s future at risk, and how a commitment to building transparency and shareholder value propelled the transactions.  Other topics covered included strategies for planning and implementing complex tax planning and shareholder redemption transactions, building a family owners council, developing a comprehensive generational estate plan, identifying and planning for hidden liabilities at the corporate and ownership level, hiring and managing an interdisciplinary team, and developing a common vision and strategy among management, board, owners and family.