On May 4th, 2022 Cendrowski Corporate Advisors Managing Director Harry Cendrowski moderated a panel discussion, “Transition or Sell: What To Do With Your Family Business,” at the Smart Business Dealmakers Conference in Detroit. Cendrowski Corporate Advisors was a Supporting Sponsor of the conference.
The Smart Business Dealmakers Conference connects hundreds of Detroit business leaders — from middle-market CEOs to top investors and lenders to leading M&A advisors. With sessions ranging from raising capital to buying and selling companies to planning for liquidity events, the conference covered the breadth of the M&A landscape.
The panel discussed navigating the options for family-owned businesses, which can be a complicated process. Do you transition to the next generation? Should you consider an outright sale? What about an ESOP? The panel, including a third-generation family business owner, a specialty Private Equity Firm executive that helps closely held companies become ESOPs, and an M&A advisor who works with family businesses probed that all-important question: What’s next?
The panel members included:
- Michael Krol, Partner & Head of Wealth Advisory, Waldron Private Wealth
- David W. Schostak, Chief Executive Officer, Schostak Brothers & Company, Inc.
- Stephen Shaya, Managing Director, Akkad Holdings