Private Capital Corporation
#7 Mount Lassen Drive
Suite C 116
San Rafael, California 94903
Ph: (415) 524-8266 ext. 17
Fax: (415) 448-5298
Ten years ago, we engaged PCC to do a repurchase liability study and develop a strategic perpetuation plan. The plan completely changed our thinking about succession. We made a smooth ownership transition without “flying in the dark,” and revenues since have grown over 300 percent. To say the least, we´re the first to recommend them.
Very simply, we need to attract and keep the best talent. They basically showed us how, through the right type of ESOP, we could instill a culture of ownership. They created incentive and reward programs that helped us retain our key management team.
As a large privately held company, we wanted to make sure our management and associates could share ownership, and particularly for younger shareholders to create some personal liquidity. PCC did a masterful job guiding us through a complicated ESOP. What was especially impressive was how they worked with our attorneys, accountants and banks and how they communicated with 2800 associates to make it all happen so successfully.
Knowledge Summit at American College features Ralph Christie, chairman and CEO of Merrick & Co. He reviews how his company, faced with a dark future, used strategic succession planning to achieve great success.