Removing old owners after acquisition

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by a searcher from University of Maryland University College
in Pensacola, FL, USA

2yrs ago

Removing old owners after acquisition

We all know that the old owners eventually need to go, but for some this is more of a sticky situation than it appears.

Here's a link to my Medium article that details our experience so far with removing prior owners.

redacted

The next one will be our experience with health insurance in the blue collar environment.

As always please feel free to reach out to me if you have any questions or advice, thanks!

1 Like

262 Views

reply by a searcher 2yrs ago
from University of Maryland University College in Pensacola, FL, USA

Hey Alex, thanks for the kind words and great feedback and question!

Licensure depends on the state, county, and city you live in. Where I am, if you have a master mechanic on staff (and registered), the company has a license. This is why it is paramount that the old owner agrees to keep his license at the business. This does not necessarily mean they are there for every job, but that they oversee it. Which also allows for the prior owners to ease into retirement as they begin to spend more days away from the shop.

reply by a searcher 2yrs ago
from University of Maryland University College in Pensacola, FL, USA

Hey Eric, thanks for the feedback.

This is something we have been navigating. The feedback we have received from employees old and new were positive in our transition. We did this by providing a better quality of living than the old owners did. In the first 90 days of ownership we established health care, vision, and dental (the first time they have had that sinceredactedWe also provided bonuses (some employees stated they'd never had a bonus before.) We also set a path for promotion and advancement we didn't have before.

We did have labor problems at one point, but it had very little, if anything to do with the prior owners' relationship with the crews.