THE CLIENT: Graphic Production House

THE CHALLENGE

The premature death of the owner and founder left the company leaderless with no clear successor among surviving family members or employees. Prior to his death negotiations with two key employees, both sales representatives and minority shareholders, to purchase the balance of the shares had broken down due to the loss of a major client. The widow and two daughters clearly wished to sell the business but were not un der any financial pressure to do so.

THE APPROACH

The family sought advice from friends and formed a board of advisors. The board recommended hiring an Interim President quickly to manage the company and maintain its value while negotiations continued.

THE RESULT

· The interim President, an Osborne Group Principal, provided stability to the organization, allowing the family to negotiate from a position of strength. Clients, employees, and suppliers were reassured about the future of the organization. The purchasers were encouraged by the availability of experienced interim management to help them to make the transition.

· After three months a deal was reached and the two key employees bought the company. The interim President’s mandate was extended for another three months to help the purchasers make the transition from
employees to owners.