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220: Succession Planning - Starting the Process

The EsOp Podcast: Succession Planning - Starting the Process

Bret Keisling is joined by ButcherJoseph VP Carter Smith who dives deep on starting succession planning, including four buyer types - strategic, private equity, management, and EO/ESOP, and how each address four key value points. The value points include maximizing cash at closing, providing available capital for growth, execution risk, and preserving seller legacy, and Carter shows how each value point is addressed by the different buyer types.

He also discusses how the process begins at ButcherJoseph from information gathering, analytics, feasibility studies and devising a strategy that best fits the selling shareholder's needs. He demystifies ESOP transactions as simply a leveraged buyout transaction that just has a different buyer than most, and how properly structured ESOP transactions can be create more value over the long haul when tax and related factors are considered.

Jack Thurston, VP of Marketing at ButcherJoseph, joins at the end to briefly discuss ButcherJoseph's marketing efforts and how booking guests on The EsOp Podcast is very easy.

To hear more from ButcherJoseph, listen to Episode 209: Rising Interest Rates & ESOP Valuations.


Episode 220 Show Notes

About Carter Smith

Carter Smith is a Vice President with ButcherJoseph & Co.’s investment banking team. He has been involved in a variety of transactions including mergers and acquisitions, valuation advisory, and leveraged recapitalizations. His investment banking experience includes engagements for a broad range of industries including healthcare, insurance, and homebuilding.

Committed to initiatives that seed and support economic (re)development, in 2011 Carter teamed up with four St. Louis business executives to organize, raise capital for and implement Arch Grants, a downtown St. Louis 501©(3) initiative that endures as one of the nation’s premier business plan competitions.

Over his professional career, Carter has worked on highly regarded, award-winning transactions, including the M&A Advisor 2016 Deal Financing of the Year: Debt Financing of the Year (Advanced Diagnostic Group), and was recognized by the M&A Advisor as an Emerging Leader in 2018. Carter is a member of ACG (Association for Corporate Growth) St. Louis, and a member of The ESOP Association. Most recently, Carter was named a recipient of Small Business Monthly’s 2022 Best M&A Professionals.

Carter has an MBA from Washington University, Olin School of Business in St. Louis and an undergraduate degree from Princeton University. He also attended the prestigious Eton College in Berkshire, England. In his free time, Carter is an avid golfer, a singer/songwriter, and has a passion for architecture and design.

About ButcherJoseph & Co.

ButcherJoseph & Co. is a boutique investment banking firm specializing in ESOPs, mergers and acquisitions, private capital sourcing and valuation advisory services for middle market companies. Their industry-recognized team of professionals has executed 200+ transactions exceeding $15 billion in total value. ButcherJoseph is headquartered in St. Louis with a presence in Washington, DC; Chicago, IL; Philadelphia, PA; Miami, FL; Palm Beach, FL; Charlotte, NC; and Nashville, TN.

The firm was founded and is managed by a group of highly experienced, dedicated professionals with significant work experience at premier, global investment banking franchises. They collaborate closely as a team to carefully develop tailored strategies and are fiercely devoted to achieving success for their clients.

Bret Keisling, Passionate Advocat for Employee Ownership

We'd love to hear from you! To contact us, find us on Facebook at EO Podcast Network and on Twitter @ESOPPodcast. To reach Bret, with one "T", email, on LinkedIn at Bret Keisling, and most actively on Twitter at @EO_Bret. This podcast has been produced by Bret Keisling for the EO Podcast Network, original music composed by Max Keisling, branding and marketing by BitsyPlus Design.

Standard Disclaimer: The views expressed herein are my own and don't represent those of my own firms or the organizations to which I belong. Nothing in the podcast should be construed as guidance or advice of any kind in any field and the fact that I mentioned an organizational website or an advocate or a company on a podcast does not reflect an endorsement, but if you've heard your name or your group's name mentioned on this podcast, I'd love to have you come on and talk about it yourself.


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