Removing old owners after acquisition

December 23, 2023

by a searcher from University of Maryland University College in Pensacola, FL, USA

We all know that the old owners eventually need to go, but for some this is more of a sticky situation than it appears.

Here's a link to my Medium article that details our experience so far with removing prior owners.

redacted@mason_16438/changing-of-the-guard-removing-prior-owners-and-key-players-gracefully-4e23e143d773

The next one will be our experience with health insurance in the blue collar environment.

As always please feel free to reach out to me if you have any questions or advice, thanks!

Reply by a searcher
from University of Illinois at Urbana in St. Louis, MO, USA

Great article! Really appreciate the detail you provided in your transition after closing. You mentioned one reason for keeping the owner on was for his license to continue operations. I know this exists in medical practices or accounting firms to have a licensed doctor or accountant required to own the practice, but I have not heard of this in HVAC. Is there a similar requirement to have a licensed HVAC professional to own and operate the business?

Reply by a searcher
in Honolulu, HI, USA

Great post Mason! Thank you for sharing your experience. Few things I'm curious about. How did you get the owner to seller finance such a big portion of the deal? And how did you deal with the employees that refused to adapt to the new technology? Did you keep them or let them go? Also, how did you weigh that decision? Thank you!

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