Exit Baby Boomers, Enter a New Generation of Owners

Succession planning for construction companies poses special challenges. Exiting owners have a number of options available to them, including selling to family members, key managers, or a third party; establishing an employee stock ownership plan; or liquidating the business. Regardless of which option the potential seller chooses, he or she should understand when it is time to exit, consider all of his or her options, and carefully plan for the exit.