The Beringer Group is pleased to announce that our client, Blodgett Supply/Blodgett Distributors, has entered into an agreement for the sale of the company to Hajoca Corporation of Lafayette Hill, Pennsylvania. Blodgett Supply is a family-owned diversified wholesale distributor, tracing its roots back to 1848. Hajoca is the second-largest PHVAC wholesaler in North America and[…]
by John McAlister and Chris Beringer This is the second installment in the series “Bridging the Gap.” The focus is on active vs. inactive shareholders in a closely held business enterprise. Companies have inactive shareholders for many reasons, but typically they are in a multi-generational business where shares are transferred in some manner to the[…]
by John McAlister and Chris Beringer Majority shareholders in a family owned business enterprise are faced with a key decision regarding the future success or failure of their enterprise: Keep, Sell, Grow. When there are children working in the business, the “Keep, Sell, Grow” decision can become monumental. Today we begin a series of Whitepapers[…]
This past April, Chris Beringer and Brad Williams of The Beringer Group, one of the top wealth management firms in the country, served as two of the “sharks” in the Shanahan Tank Challenge, a student business competition at Bishop Shanahan High School in Downington, PA inspired by the popular television program ‘The Shark Tank.’ Participating students generated[…]
by John McAlister and Chris Beringer The objective of this white paper is to suggest ways for family businesses to maximize financial objectives while minimizing family conflict. There are inherent conflicts between active and inactive shareholders. There are also deep seated emotional conflicts that may go back generations. These issues can be dealt with, but[…]
EFFECTIVE BOARDS FOR A PRIVATE ENTERPRISE The creation of a customized board of directors can prove beneficial to the continuous improvement of the private business. For a family-owned enterprise an effective board strives to improve business governance and perpetuate family control. This active board should include qualified, experienced outside directors. An effective director’s only interest[…]
Join the Beringer Group for a lively discussion on how to transform conflicts into golden opportunities when transitioning a family business. Click HERE for a PDF file of the slides used during the webinar. Scroll below the media player for comments and questions generated from the discussion, or to add your own.
“Rags to riches to rags in three generations?” You have something else in mind? The Beringer Group has identified some Key Success Indicators for your consideration. Identify future leaders from within and outside the family Find leaders early and invest in them Approach CEO succession proactively Preserve an enduring sense of clearly defined family values[…]
Is one generation enough time for your family business to realize the company’s mission and objectives? Would you like to successfully transition the family business to your heirs for generations to come? Consider implementing the “Art of Stewardship” in the near-term and as a key part of training and developing future generations. Cultivate a commitment[…]
A large fraction of all privately owned businesses will be exited through either succession or sale during the next decade. Yet, most entrepreneurs are currently NOT deeply engaged in a transition and succession planning process. Most indications confirm that personal, family and psychological factors deter business owners from getting started on this critical planning. Most[…]