Martin was approaching 64 and Joanne 63. Their son, John, who was 32 worked in the business and was growing into a competent MD. The age-old problem of getting into business being relatively straightforward, however, escaping the business at the right time, for the right money, to the right people much more problematic.
At a financial planning review meeting Martin agreed this was a good time to consider selling the business, but did not want to relinquish totally his shareholding and also had an eye on his son and his future. In addition, Martin felt the business had a great deal of potential to grow further.
After some discussion, we introduced Martin and Joanne to a highly regarded corporate finance professional. After debating all of the options, everyone agreed that a Management Buyout (MBO) was probably the best way to move forward, feeling this had several advantages over an outright sale;