Succession
Business succession transfers management and ownership to family members, the existing management team, or an external successor.
Management and ownership can transfer together or in stages. Common succession routes include a family transition, a management buyout, and a sale to an external buyer.
An initial valuation helps prepare for these decisions. It does not replace a review of financing, tax consequences, or the rights of family members. Planning also requires agreement on future responsibilities, the outgoing owner’s role, and the transition process.
Business succession transfers management and ownership to family members, the existing management team, or an external successor.