Co-operative Acquisition Strategy
The number of “baby boomer” business owners wanting to retire and realise their assets by disposing of their businesses and selling properties is increasing. This could potentially put large numbers of people out of work.
Advice on how to transfer ownership to staff in the way of a workers co-operative through experience is not readily available or easily found in Australia. Also, existing employee cooperatives can become successful through mergers and acquisitions
Having recently transferred our 50-year-old family manufacturing business www.cmac.com.au to a workers’ co-operative so I could exit the business and retire, I discovered that co-operatives can potentially be the most socially responsible solution.
This was after a journey of nine (9) years exploring and trying different succession options.
All the below succession options were implemented and tried at C-Mac and the co-operative solution was the only one that got over the line in this economic environment where manufacturing has been struggling and re-inventing itself in