The Foundation of the American
Subcontractors Association, Inc.
1004 Duke St., Alexandria, VA 22314-3588 • www.contractorsknowledgenetwork.org
FOR RELEASE, Dec. 13, 2017
Contact: Marc Ramsey, (703) 684-3450, Ext. 1321, firstname.lastname@example.org
New FASA Video-on-Demand Examines ‘Ownership Succession Planning’
ALEXANDRIA, Va.—Over the next decade, the construction industry will undergo an historic transfer of ownership as retiring baby boomers seek to exit their businesses and find new owners. All too often, owners underestimate the challenge of ownership transition and fail to establish an effective plan.
In the Foundation of the American Subcontractors Association’s new video-on-demand, “Ownership Succession Planning,” Stephen Bonebrake, Maxim Consulting Group, examines the array of options that owners have to facilitate an ownership transition.
“Many owners believe that they can simply sell the business when they are ready to retire,” Bonebrake said. “In reality, not all construction companies possess the attributes that enable an outright sale. In fact, less than 10 percent of ownership transitions in the construction industry are outright sales. The vast majority of transitions are accomplished by transferring ownership to family members, key managers or employees. As a consequence these transitions take many years to accomplish as family members, management and employees typically may not have the financial resources to acquire the business outright.”
In the video-on-demand, Bonebrake also discusses what situations lend themselves to an outright sale versus a sale to key managers, family members or an Employee Stock Option Plan.
“Ownership Succession Planning” (Item #8117) is $65 for ASA members and $95 for nonmembers. This and other on-demand videos are available through FASA’s Contractors’ Knowledge Depot.
FASA was established in 1987 as a 501(c)(3) tax-exempt entity to support research, education and public awareness. Through its Contractors’ Knowledge Network, FASA is committed to forging and exploring the critical issues shaping subcontractors and specialty trade contractors in the construction industry. FASA provides subcontractors and specialty trade contractors with the tools, techniques, practices, attitude and confidence they need to thrive and excel in the construction industry.