topical Business Succession Planning Forum – Event 1: Partnering
Many HunterNet Co-operative members fall into the category of small and family-owned businesses, which in Australia represent 67% of all Australian businesses and provide 55% of private sector employment. They are often the result of the blood, sweat, and tears of a family, or even several generations of a family. Ensuring that plans are made for a successful transition of leadership and/or ownership of small businesses benefits the business, its employees, and the peace of mind of the owner. A key component to successful transitions is managing and carefully attending to of business and family relationships throughout the transition.
HunterNet Co-operative has facilitated a collaboration between SWS Lawyers and KPMG to host a series of presentations and conversation events designed to inform members so that they can more capably navigate business succession. The series will cover:
• Partnering and private investment.
• Business Succession including intergenerational change and MBO / MBI transition.
• Business Sale and restructuring.
In this first forum, the topic of partnering will be explained with a panel session including business owners and experts. The session will cover the benefits (and detriments) of partnering as a way to transition business ownership.
It will look at joint venture, private equity, and contractual arrangements.
This informal panel discussion will have business owners who have navigated business partnering arrangements alongside knowledgeable local advisors to share their experiences and answer questions from our limited number of attendees.
Attendees should expect to receive information regarding ‘partnering’ as an alternative to inter-generational family succession or business disposal.
Attendees may like to review the following topical article that is highly relevant to the discussion.
Who should attend: Business owners.
topical Business Succession Planning Forum – Event 1: Partnering
Many HunterNet Co-operative members fall into the category of small and family-owned businesses, which in Australia represent 67% of all Australian businesses and provide 55% of private sector employment. They are often the result of the blood, sweat, and tears of a family, or even several generations of a family. Ensuring that plans are made for a successful transition of leadership and/or ownership of small businesses benefits the business, its employees, and the peace of mind of the owner. A key component to successful transitions is managing and carefully attending to of business and family relationships throughout the transition.
HunterNet Co-operative has facilitated a collaboration between SWS Lawyers and KPMG to host a series of presentations and conversation events designed to inform members so that they can more capably navigate business succession. The series will cover:
• Partnering and private investment.
• Business Succession including intergenerational change and MBO / MBI transition.
• Business Sale and restructuring.
In this first forum, the topic of partnering will be explained with a panel session including business owners and experts. The session will cover the benefits (and detriments) of partnering as a way to transition business ownership.
It will look at joint venture, private equity, and contractual arrangements.
This informal panel discussion will have business owners who have navigated business partnering arrangements alongside knowledgeable local advisors to share their experiences and answer questions from our limited number of attendees.
Attendees should expect to receive information regarding ‘partnering’ as an alternative to inter-generational family succession or business disposal.
Attendees may like to review the following topical article that is highly relevant to the discussion.
Who should attend: Business owners.
SPEAKERS
Reid Farrell, Panel Host – Associate, SWS Lawyers
Reid is a commercial lawyer with 6 years of legal experience involving commercial agreements, mergers and acquisitions, defence contracts, import and export issues, as well as intellectual property matters during his time as a lawyer in both Australia and the United States. In addition to his legal experience, Reid also has a wealth of practical business knowledge and experience gained in management and as a company shareholder and director.
Reid is familiar with the concerns of company owners with respect to succession planning. He is a shareholder of an Australian company that is almost 160 years old.
Con Megalos, Panellist – Consultant, Mega Consultants
Con is an engineer and businessman who, after completing his education, started a hydraulics business, Mega Pacific in Newcastle in 1985. After more than 30 successful years in the business, in 2016 he sold a majority stake to a European-based multi-national pumps and hydraulics company. Following the partial sale, Con continued in the business as chair of the board and managing director until the business partner bought out his remaining stake in 2022. He now plays golf and runs a consultancy business, sharing his business expertise with others.
Con will share his insider’s view on the pros and cons of partnering with an industry player as a business succession plan.
Michael Connors, Panellist – Pharmacist & Entrepreneur
Michael is a practicing pharmacist, graduating from the University of Sydney with a Bachelor of Pharmacy in 1977. Michael purchased his first pharmacy in Newcastle as a partnership in 1986 and his last pharmacy in 2022.
Over the course of Michael’s career, he has acquired and set-up over 15 businesses, sold his interests in most of those businesses, and is currently involved in 3 successful businesses, predominantly as a mentor and investor.
After many years of hard work, entrepreneurship, and careful succession planning, Michael now balances his love of surfing, sports, and family, while providing strategic advisory support for his fellow shareholders as required.
Michael will share his experience transitioning from working 7 days a week to fulfilling his ‘near-silent’ investor role in his remaining 3 businesses.
David Pring, Panellist – Partner, KPMG Enterprise, Tax Transactions and Accounting
David has over 25 years’ experience in advising private companies, family-owned businesses, and their shareholders in all aspects of growing and managing their businesses.
David has thorough knowledge and understanding of the unique characteristics and issues affecting private and family groups. He has extensive experience in equity succession, estate and exit planning, shareholder agreements, corporate governance policies, structuring advice and business and strategic planning, together with his traditional business advisory services knowledge.
Andrew Windybank, Panellist – Principal, SWS Lawyers
Andrew is a corporate lawyer, business owner, and company director with more than 20 years’ experience. He specialises in mergers and acquisitions, divestment and capital raising transactions for small and medium businesses and has advised on several significant private equity investments and exits.
Andrew acts for private and public companies, company directors, private equity funds, private individuals, entrepreneurs, and family groups. He has experience in a range of industries and market segments and regularly works with other specialist advisors to deliver joint venture, acquisition, divestment, and merger transactions or to raise capital or commercialise ideas for his clients.
