ROI Manufacturing

Manufacturing

Project Objectives:

Develop and implement a succession  plan and exit strategy for the next generation to take over a highly successful family owned printing company specializing in servicing the book publishing industry.

The father’s dream upon retirement was to turn his $62 million business over to his son.  The son had been a successful salesperson in the E-Book and self-publishing areas of business, which was just emerging.  He had never been in a management position. The son-in-law successfully managed the customer service department.  Mom was the bookkeeper and the sister, who had a law degree, oversaw the manufacturing operations.

CPC Solution:

  • CPC recommended creating a separate E-Book division.  The son was trained and mentored by CPC on how to be the President of this $1 million company before he could become the President of a $62 million organization.
  • Three months into the project, the father suffered a heart attack. Working with all of the family members, CPC facilitated a series of Courageous Conversations regarding the future of the company.
  • The outcome of these conversations was to have CPC executive partners conduct a business evaluation of the company and to handle the sale.  CPC also worked with the son to create a separate company for E -Books and self publishing.

Outcome:

Business sold for three times EBITDA and the son continues to operate his own successful business.

Project Duration:

12 monthsmanufacturing