Pablo von Siebenthal
Generally speaking it is often critical to retain and properly incentivize the (previous) owners as customers, suppliers, employees and other stakeholders might feel loyal to him/her. In particular in people businesses. Our company has done acquisitions in which previous owners then went on to make successful careers. But in many other cases it was a matter of going through a transition process of a few years in which the company reduced the dependency from the previous owners and prepared a succession plan.