Crafting a fresh vision for the next generation of owners
OWNERS’ STRATEGY
Context
A fourth-generation family business was entering a critical phase: the transition of ownership to the next generation, which would consist of 25 beneficial owners. The current generation recognised the need to articulate a renewed vision; one that would engage the incoming owners while preserving the unique culture that had defined the family enterprise for generations. The challenge was to craft a shared sense of purpose that could reflect the evolving ownership structure and support the family’s long-term unity.
Work
To meet this challenge, our partner worked with the senior generation to identify a group of five Next Gens. This group was tasked with leading a structured process to explore the family's future as owners – in terms of financial objectives, strategic intent, purpose and vision. They consulted with the existing Owners’ Council to ensure alignment.
Over a nine-month period, our partner and their team supported the client through several distinct workstreams, including:
Bespoke benchmarking: Drawing inspiration from other multi-generational, diversified family businesses, the team examined approaches to asset allocation and the strategic ‘role of the centre’.
Insight gathering: We engaged both senior fourth-generation members and the company’s executives to discover the principles and governance lessons that had shaped the business.
Defining purpose beyond finance: Working closely with the Family Council, we explored five generations of family history to help the Next Gens revitalise the purpose statement in a way that transcended financial returns.
Setting achievable financial objectives: We reviewed potential growth scenarios for the portfolio under different dividend and tax structures.
Throughout the process, the Next Gen group took ownership of the findings and actively shaped the narrative. Their work resulted in a future-facing vision that was both practical and inspirational.
Impact
The Next Gen working group developed an clear, actionable statement of purpose and proposed a new north for the family’s business portfolio. In collaboration with the portfolio board and executives, a statement of family intent was then created – one that fundamentally transformed the approach to the portfolio and its configuration.
With a purpose beyond financials, a growing number of fifth and sixth generation future owners are re-connecting with the legacy. This has established a strong foundation for long-term engagement and continuity.