Financing Transitions: Managing Capital and Liquidity in the Family Business

Overview

If a family-owned company is to endure and provide the maximum potential opportunity for future generations, it must plan for provision of both adequate shareholder liquidity and sufficient business capital. Many believe their options are limited: restrict money available to the family; sell the business; or go public. Rather than allowing financial pressures to destroy the family business, careful planning and sophisticated use of the growing collection of financial techniques can help the family retain business...

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Financing Transitions: Managing Capital and Liquidity in the Family Business

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Overview

If a family-owned company is to endure and provide the maximum potential opportunity for future generations, it must plan for provision of both adequate shareholder liquidity and sufficient business capital. Many believe their options are limited: restrict money available to the family; sell the business; or go public. Rather than allowing financial pressures to destroy the family business, careful planning and sophisticated use of the growing collection of financial techniques can help the family retain business control and make wise choices among many available alternatives.

Financing Transitions is a guide to

* anticipating and managing capital and liquidity needs

* understanding how the "Family Effect" can be a family business' greatest asset—or its greatest threat

* recognizing how predictable family business transitions can erupt into family crises

* keeping patient capital from becoming impatient;

* controlling the family business's cost of capital; and much more...

 

Financing Transitions: gives business owners the financial insight and understanding needed to provide future generations with the fullest possible opportunity to enjoy the unique benefits of business ownership.

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Product Details

  • ISBN-13: 9780230111059
  • Publisher: Palgrave Macmillan
  • Publication date: 12/15/2010
  • Series: A Family Business Publication Series
  • Edition description: Second Edition
  • Edition number: 2
  • Pages: 128
  • Sales rank: 1,415,714
  • Product dimensions: 5.50 (w) x 8.10 (h) x 0.50 (d)

Meet the Author

François M. de Visscher is President of de Visscher & Co. in Greenwich, CT, one of the world’s leading independent financial consulting and investment banking firms for family and closely-held companies. A native of Belgium, Mr. de Visscher has been an active advisor to business owning families for over twenty years, mostly in the United States, Canada, Europe, the Middle East and Latin America.  Mr. de Visscher founded “Family Capital Growth Partners,” a private equity fund focused on making equity investments in family-owned and closely held companies and co-founded the Business Growth Alliance, an alliance of middle-market advisory firms.  He is a director and shareholder of his own family’s global enterprise, N.V. Bekaert S.A. Headquartered in Belgium.  Mr. de Visscher is the recipient of the ‘Richard Beckhart Award” from the Family Firm Institute in Boston, recognizing his many valuable contributions to the Field of Family Businesses.

Craig E. Aronoff is Co-founder, Principal, and Chairman of the Board, of The Family Business Consulting Group, Inc. He is a leading consultant, speaker, writer, and educator in the family business field.  Aronoff is perhaps the most prolific writer in the family business field.  As the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University in Marietta, GA, Aronoff invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education universities world-wide. He has held the Dinos Eminent Scholar Distinguished Chair of Private Enterprise and was a professor of management in Kennesaw State's Coles College of Business.  The Aronoff Professorship of Family Business at Kennesaw State University was named in his honor.

John L. Ward is Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management and teaches strategic management, business leadership and family enterprise continuity. Ward is the author or co-author of several leading texts on family business, Keeping the Family Business Healthy, Creating Effective Boards for Private Enterprises, Strategic Planning for the Family Business, Perpetuating the Family Business, Unconventional Wisdom and Family Business Key Issues. He is also an author of a collection known as The Family Business Leadership Series, each focusing on specific issues family businesses face.

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Table of Contents

I. Balancing Liquidity, Growth and Control
• II. Managing Patient Capital and Shareholder Liquidity
• III. Managing the Cost of Patient Capital
• IV. The Role of Family Governance in Family Effect
• V. Keeping, Selling, or Expanding the Family Business
• VI. Internal Financial Solutions: Meeting Shareholders' Immediate, Current, and Ongoing Liquidity Needs
• VII. External Financial Solutions: Matching the Right Form of Capital to the Right Strategy
• VIII. Private Equity as a Growing Source of Capital
• IX. Summary
• Index
• The Authors

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