client journey
Selling the business to
the management team.
This second generation owner transferred ownership to his management team to continue the legacy of the aviation business he and his father built.
65+
Years In Business
7
Service Lines
$7 M
Annual Revenue
47
Long-Term Employees
No Succession Plan
Realizing he couldn’t run his business forever, this owner contacted Destined to evaluate his succession options and develop a plan. Since neither of his children wanted to take over the owner was considering either selling or transferring ownership to his loyal and dedicated management team.
In our Vision Session he realized the ideal transition would preserve the family legacy he and his father built over 65 years.
No successor
- Needed cash out of the business to retire
Management team did not have resources for a buy out
Client Results
After identifying his ideal transition, the Destined team guided him through the process of evaluating his strategic alternatives, or ways in which he could achieve the desired outcome. Since the management team could not buy the company outright, the Destined team found a creative way in which he could transfer ownership internally while getting cash out of the business to retire. Ultimately this plan not only transferred ownership to his team but also incentivized and motivated them to hit the growth target.
Ideal transition vision realized
Management team rewarded and incentivized with ownership
Owner paid out over time to fund retirement
“My children did not want to take over our family business, so the Destined team presented me with several ownership transition options. Ultimately, the transition plan I chose is allowing me to retire while rewarding my team with ownership. I am grateful for Destined’s guidance through this emotional process and am proud that our family’s legacy continues. “
CEO & Owner, Aviation Services Business