Succession Fund bypasses regulators with IPO*
November 2002
It was no way to run a business. The officers and directors had reached the point where all meetings were recorded on tape. All board members attended all management meetings. No decisions were being made. Lawsuits were threatened. And losses mounted.
Management was finally able to negotiate the sale of the founding shareholder's position. He wanted to pursue other interests. He was tired of the fighting. The Succession Fund™ purchased his position in a transaction that was completed 40 days after our introduction to management.
Two months later the company is doing well. Management has introduced several new lines and landed a major new licensing agreement. Revenue is expected to climb by over 30%.
Management still tape-records meetings - defense mechanisms die hard.
But new shareholders certainly can bring much-needed stability to difficult succession situations.
* The Insider Private Offering™ — cashing out without going public. For additional information, please contact: Jim Ambrose or Richard Reid.
