Maintaining client relationships after the owner leaves

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December 11, 2023

by a searcher from Pennsylvania State University in Philadelphia, PA, USA

How are you maintaining those relationships with commercial accounts when buying a commercial contracting company and the owner is the one selling jobs? Keep them on as a consultant? Something else?

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Reply by a searcher
from California State Polytechnic University in Pomona, CA, USA
I acquired in an industry that is largely relationship driven. We spent a great deal of time to ensure that key personnel within the business held these relationships. If we had found that the owner was the person driving this we would have negotiated some type of transition period where they still helped hand off those relationships.

Ultimately, I ended up focusing my search on an industry in which I already held many of the relationships needed to ensure future success.
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Reply by a searcher
from University of Colorado at Boulder in Denver, CO, USA
My business was a little different but we (former owner/me) scheduled times with the of all of the big accounts owners /gm's and went and met together. The former owner explained that she had sold the business, was very proud that I was taking over, that they were training me/will be around for the transition and have utmost confidence the quality will remain the same.
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