A well-planned succession on secure and optimal terms
For many family-owned businesses, succession planning is both a major business decision and a significant personal milestone. Family interests, emotions, tax considerations, legal matters, and financial implications must all be managed at the same time. At Grant Thornton Corporate Finance, we help owner-managers plan and execute ownership transitions in a way that creates the best possible outcome for both the business and the family.
Succession planning in family-owned businesses
A successful succession is about much more than choosing a date and signing an agreement. Key considerations include:
- who will take over ownership—and at what pace
- how leadership responsibilities should be transferred
- how the company’s value should be determined
- how to ensure a fair outcome for both active and non-active family members
- the tax and legal implications of different succession structures
A well-planned succession can help secure the company’s long-term continuity, preserve family relationships, and optimize the overall financial outcome.
Process: from considerations to completed generational change
Clarifying objectives and options
We begin by understanding the company’s circumstances and the family’s aspirations. Together, we discuss objectives, timing, and potential succession models, including whether the family wishes to retain ownership or explore alternative solutions.
Analysis, valuation, and transaction structure
We then analyse the company’s financial position, valuation, and capital structure, and assess different succession models, such as phased ownership transfers, share sales, or a combination of approaches. We take tax and legal considerations into account and evaluate the implications for both the business and its owners.
Planning and implementation
Once the preferred succession model has been selected, we develop a detailed plan covering timelines, responsibilities, and the necessary agreements. We coordinate with other advisers and help ensure that the transfer takes place at the right time and in a manner that supports both the company’s operations and the family’s objectives.
Follow-up and next steps
Following the completion of the succession process, adjustments may be needed to areas such as board composition, governance structures, or shareholder agreements. We continue to act as a trusted adviser during the initial transition period, helping both the incoming and outgoing generations settle into their new roles successfully.
How we help you
Grant Thornton’s Corporate Finance team takes a holistic approach to succession planning, working closely with tax and legal advisers throughout the process. When needed, we draw on the expertise of our colleagues across tax, audit, and legal services to ensure that every aspect of the succession is considered as part of a coordinated strategy.
Our services include:
- clarifying objectives, expectations, and the desired timeline for the ownership transition
- financial analysis and business valuation
- evaluating different succession models and their implications
- advising on financing and capital structure in connection with the ownership transfer
- coordinating with family members, management, and other advisers
- translating the chosen solution into practical agreements, structures, and implementation plans
Our objective is to deliver a succession process that supports the company’s continued development while establishing clear and fair arrangements for the family.
Succession planning as a strategic opportunity
Although succession planning is often driven by age or changes in personal circumstances, it can also be an opportunity to think strategically about the future of the business. A well-planned and clearly communicated succession process can:
create clarity around ownership and leadership responsibilities
strengthen governance and further professionalise the board and organisation
open the door to new skills, perspectives, and growth opportunities
provide certainty within the family regarding rights, roles, and expectations
By starting the planning process early, you increase the likelihood of achieving a succession that is both financially sound and sustainable from a family and organisational perspective.
Contact us
Facing a succession process or planning your company’s future ownership? We help you navigate your options, implications, and next steps.
