Produced by XPX New England November 2016
Business Ownership Transition – The Good, The Bad, The Ugly
Lessons Learned from Three Who ‘Been There and Done That’
Three business owners, representing companies of varying size and circumstance, will describe the paths they took in selling or transferring their ownership interest and what they learned along the way. Each took a different path, but all have real life experiences to share.
Bruce Wilson, Founder of Cellular Specialties participated in a private external sale.
Gerardine Ferlins, President and CEO of Cirtronics Corporation will give her personal insights into transitioning to an Employee Stock Ownership Plan (ESOP).
Albert Miltner of Miltner’s Shoes, Inc. (Bootleggers Footwear stores) will share his experiences with a management buyout (MBO) transition.
Moderator: Gerri King, PhD, of Human Dynamics Associates will moderate the panel.
Based in Milford, NH, Cirtronics is a product manufacturer in the Electronic Manufacturing Services (EMS) industry invested in all stages of the product lifecycle. Gerardine is the guiding influence over the evolution and growth of the company. Her career began as a medical social worker, a teacher and later in roles within a traditional manufacturing business environment at Worcester Controls. Cirtronics transitioned to an ESOP in 2002.
Based in Manchester, New Hampshire, Cellular Specialties, Inc. (CSI) was an innovator of in-building connectivity solutions for the wireless communications and public safety markets. Bruce Wilson built the company and established a national footprint by selling to Fortune 500 businesses and the major carriers. The company grew from 11 employees to over two hundred with revenues of approximately $37 million in 2013. It was sold in 2013 and 2014 to Westell Technologies for an all cash purchase price of $39 million.
Miltner’s Shoes, Inc. operates 8 Bootleggers Footwear Center’s across New Hampshire and Massachusetts offering one of New England’s largest selections of athletic footwear, sandals, hiking boots, work boots, winter boots, dress shoes, casual shoes, slippers, clogs and more for the entire family.
Breakfast will be served.
XPX New England Members: $30
Thank You to Our Meeting Sponsors!