Gray, Gray & Gray is excited to be part of the virtual presentations lineup for the 2020 Eastern Energy Expo On Demand.
Presenters will include Partner Joe Ciccarello, CPA, MST and Director & Chair of the firm's Energy Practice Marty Kirsher, CPA, MSA.
This session will focus on the choices for owners of fuel oil and propane companies who are nearing retirement, but still want to maintain a presence in the business to which they have devoted a lifetime of work. Those choices include sell and go to work for the new owner; or transition the business to the next generation and hope to have a role going forward.
But what if you aren’t quite ready to walk away from the business and/or you don’t have a next generation in place to transition the business to? There is a third – and very appealing – option: a joint venture. By joining forces with another energy company, a business owner can maintain equity in their business and create flexibility in their exit plan, all while building a stronger management team which will in turn help to create stability and increased profitability. A joint venture can also prove beneficial in accelerating your growth plans without taking on additional debt. For example, when two smaller companies band together to form a larger company through a joint venture, this can result in improved efficiencies, the ability to move into new markets, hire more experienced personnel, and more. This presentation will describe how a joint venture works and provide you with firsthand commentary from energy company managers who have successfully taken the joint venture route as either part of their exit plan or their growth strategy.
Attendees will leave this session with an understanding of how a joint venture works, how joint ventures may be structured, how to identify the right joint venture partner, and why a joint venture is a viable alternative to selling an energy business – or achieving your growth goals.
Visit here for more details and to register.