Overview:

John, the son, assumed management control of the business several years ago and under his leadership grew the business from less than $1mm to over $6mm. There was always a verbal agreement between Dad and John for John to someday purchase the company.  “Someday” kept being pushed out into the future until Dad started having serious health problems.

How Harlan Helped:

Together as a team, John and Harlan developed a strategy to begin to the buy-out process.  After helping John create an overall vision for the buyout, Harlan mediated several difficult issues involving not only the father and son, but also a stepmother who worked for the company part time.  Harlan relied on his overall experience, wisdom and integrity to bring the parties together for a successful conclusion.  In addition to regular sessions with John, twice a year Harlan facilitates strategic planning sessions with the leadership team for them to map out short term and long-term goals.

Results:

With Harlan as a “trusted partner and advisor,” John has led the company in record growth of over 500%.   He now owns 100% of the business.  Revenues have increased by a factor of five and the company has a 25% return before tax.  He doubled his salary, has taken his entire extended family on a cruise last year and, for the first time, has offered his employees health insurance.  Dad purchased a motor home and spends several months a year going to NASCAR events.