In the News

Dykema’s Business Services Department Launches Family Business Transition Team

Multi-Discipline Team Draws from Firm’s Practitioners in Corporate Finance, Mergers & Acquisitions, Private Equity, Tax and Estate Planning/Administration; Offers Full Complement of Services to Assist Closely-Held or Family Businesses in Transition

December 3, 2013

Dykema’s Business Services Department is pleased to announce the creation of the Family Business Transition (FBT) team, a multi-discipline group drawing from Dykema attorneys in Corporate Finance, Mergers & Acquisitions, Private Equity, and Tax and Estate Planning/Administration. The FBT team will provide business and tax counsel, transactional assistance and legal representation to privately-held companies and their owners who look to explore transition of businesses, either intra-family or to outside parties.

Jeffrey M. Dalebroux, Director of Dykema’s Business Services Department, notes, “Founders or leaders of small or middle-market companies tend to be astute at starting and growing their businesses, but not nearly so in the planning of the transition of that business.”  Dalebroux adds, “Because the transition of ownership and/or leadership of a company—whether an inter-generational transfer within a family or a transaction with an outside party—is often a ‘once-in-a-lifetime’ event, it’s essential for owners to use outside counsel to help plan, evaluate options, explain the tax consequences and perform due diligence so that the transaction can be concluded successfully and bring optimal value.”

Dalebroux notes that because a transaction can involve consideration of a variety of alternatives (ranging from strategic buyers to commercial banks to private equity firms) and take many forms of deal structure—mergers, joint ventures, ESOPs, asset purchases, recapitalizations—company leaders exploring successor ownership should draw upon legal advisors who have experience with, and are connected to, these capital market participants.

Dalebroux also observes that owing to the complexity of these transitions, family members and owners would be well-advised to begin planning well in advance of the event. “When it comes to protecting assets, preserving wealth and optimizing value, the importance of early planning can’t be overestimated.”

Dykema’s Family Business Transition team is comprised of experienced practitioners skilled in providing legal advice, strategic counsel and transactional guidance to business entities of all sizes. Its members include:

Jeffrey M. Dalebroux

Director, Business Services Department

Chicago

Steven E. Grob

Member, Taxation, Tax & Estate Planning

Detroit

William C. Lentine

Attorney, Taxation, Tax & Estate Planning

Detroit

Gerald T. Lievois

Member, Corporate Finance, M&A

Bloomfield Hills

Pamela M. MacDougal

Senior Attorney, Taxation, M&A

Grand Rapids

Nikul D. Patel

Associate, Corporate Finance

Chicago

Stephen D. Sayre

Member, Corporate Finance, M&A

Chicago

Mark W. Weisbard

Member, Taxation, Tax & Estate Planning

Chicago