TTC Publishes Article on Family-Owned Businesses in The Oilfield Journal

Midland, TX, February 04, 2013 --(PR.com)-- The Transition Companies is proud to announce the publishing of its article, “Family-Owned Businesses,” in The Oil Field Journal for the month of December, 2012. It focuses on current owners of family businesses and aims at helping them strategically manage the future for both them and their company. As ownership passes between generations there are many possible outcomes that may befall the new owner, both positive and negative. This article breaks down some of the benefits and advantages of succession, but will also reveal some of the challenges and pitfalls that may occur along the way such as:
“[T]here are several drawbacks of family succession:

• Lack of family harmony
• Current owner cannot let go
• Successor is not qualified
• Disagreeing on how to run the business
• Retirement cannot be financed”

Mr. Ryan and Mr. Wegen also go into details of potential alternate solutions that may have not have initially occurred to these owners. These propositions place the current owner in control over the future of the company they’ve built instead of being at the will of its impending heir.

“Our overall goal in writing this article is to bring to light alternative exit solutions for family business owners. While it’s great to pass ownership down to the next generation, there are some situations in which the best possible option lies outside of succession and will ultimately help ensure the future of the company and everyone involved.” – Mike Ryan

The article was originally published by The Oilfield Journal, and is now available in full on their website: http://www.transitioncompanies.com/oilfield-journal.html

Written by:
Mike Ryan
Executive Vice President
The Transition Companies
mryan@TransitionCompanies.com
(972) 450-3182

Keith Wegen
Managing Director
The Transition Companies
kwegen@TransitionCompanies.com
(303) 905-0733

About The Transition Companies
The Transition Companies, LLC (www.TransitionCompanies.com), is a leading Mergers and Acquisitions ("M&A") firm that specializes in maximizing the enterprise value received by owners when selling their privately-held companies. TTC also provides Business Optimization consulting services for companies that want to improve their performance and earnings in the short-term, while increasing their market value for a future sale. Tracing its roots back to 1988, TTC is headquartered in Dallas, TX, and has offices throughout the United States and Canada.

For more information: Call (972)450-3100 or Email PR@TransitionCompanies.com