Safety & Risk Management
SC&RA virtual event looks at business succession planning
By Crane & Hoist Canada Staff
By Crane & Hoist Canada Staff
The Specialized Carriers & Rigging Association (SC&RA) is hosting a one-day virtual conference on July 28 on business succession planning.
”Intended for companies both looking to sell or merely thinking about the process and how to plan and prepare, the conference is designed for owners, operators, and financial managers, and will feature merger and acquisition experts, as well as private equity representatives with direct industry experience,” said SC&RA CEO Joel Dandrea.
“We are gathering experts to share advice on every aspect of succession planning. A one day virtual workshop will provide the most convenient access for busy owners and managers who are eager for the information, but short on time.”
Topics to be covered
Topics to be covered will include: Generational transfer, ESOP, private equity sales; How to find potential buyers and professional assistance; Common errors and pitfalls; Key private equity considerations for acquisition; Preparing for liquidation/sale, including determining value, preparing financials; and Seller’s role after the transaction.
Featured speakers include: Glenn Rayle, Managing Director, Chapman Associates; Maryann Ford, Managing Director, Chapman Associates: Michael Rosendahl, CFA, Principal, PCE Companies; Braden Eddy, Senior Associate, Hastings Equity Partners; Jason Giorgio, MBA, CFP, CLU, Pacific Advisors; and Lee & Terry Resnick, Partners/Co-Founders, Resnick Associates.
According to Dandrea, “Over the past few years, there has been a lot of merger and acquisition activity in the industry that effects our members in a host of ways. And more so, after going through the challenges of 2020, many owners are further assessing key partnerships, strategic plans, federal estate tax law changes and both short and long-term plans.”
Dandrea emphasized the need for SC&RA member companies to remain vigilant in regards to the education and awareness piece of succession planning. “If they are exploring a potential sale, or a strategy to move their company in some way, it’s important to have solid plans to protect the business from unnecessary tax payments, as well as knowing who to go to for support.”
The event is open to members and non-members. For the complete schedule and list of speakers, visit www.scranet.org/succession2021.
The Specialized Carriers & Rigging Association is an international trade association of more than 1,400 members from 46 nations. Members are involved in crane and rigging operations, specialized transportation, machinery moving and erecting, industrial maintenance, millwrighting, concrete pumping, manufacturing, and rental. SC&RA helps members run more efficient and safer businesses by monitoring and affecting pending legislation and regulatory policies at the state and national levels and researching and reporting on safety concerns and best business practices.