Business Succession Planning

Business Succession Planning

Representative Matters

Business Succession Planning Practice Matters

Fox attorneys have helped more than 100 firms develop successful and sustaining ownership transition programs, including representing:

  • A 350-person architecture firm in developing an ownership transition program that resulted in the addition of 35 new leaders.
  • A 250-person environmental consulting firm in developing an ownership transition program that brought in 15 new owners.
  • A 150-person engineering firm in developing an ownership transition program that initially brought in seven new leaders. The firm has since expanded to 300 employees and 30 owners.
  • A 90-person landscape architecture firm in developing an ownership transition program that initially brought in three new owners. Two years later, the firm brought in five new owners.
  • A 75-person architecture design firm in developing an ownership transition program that brought in four new owners.
  • A 49-employee marketing research firm in developing an ESOP and ownership transition program.
  • A 29-employee public relationship firm in developing an ownership transition program.
  • Represented I.T. Landes & Son, Inc. - a fourth-generation family-owned and managed Montgomery County, Pa.-based plumbing, heating, air conditioning and fuel oil sales and services firm – in connection with its acquisition by H.B. McClure Co. – a Harrisburg, Pa.-based firm in the same lines of work but serving different marketing areas. As the acquiring company was an S Corporation that is wholly owned by an ESOP, Fox advised I.T. Landes to terminate its Subchapter S election and form its own ESOP. The transaction was structured as a sale by I.T. Landes’ owners to that ESOP, followed by a merger of I.T. Landes with and into H.B. McClure’s subsidiary. The sophisticated, multifaceted transaction resulted in the sale of the client company in a manner that should enable the owners to avoid current federal income taxation.
  • Successfully transferred a second generation national transportation company to the third generation via stock redemption.
  • Successfully reorganized a family owned and operated international fan and heater manufacturer to facilitate generational transfers.
  • Ongoing representation of an eastern Pennsylvania family owned real estate development and management company in a number of areas, including generational transfers for estate planning purposes.
  • Represented a family owned hospitality business in business succession planning.
  • Represented an eastern Pennsylvania family owned telecommunications business in a recapitalization that helped facilitate the company’s business succession plan.
  • Represented a western Pennsylvania family owned auto dealership in transitioning ownership and real estate to the second generation. The transaction was structured in the most tax advantageous manner, resulting in significant tax savings for the family.
  • Counseled a Pennsylvania family owned print bindery and fulfillment business on vertical integration and acquisitions.