VeenendaalCave, Inc. was a leader in the commercial interior design industry, providing a full range of interior planning and design services to real estate developers and corporate clients. With 60 talented staff members, the firm was the leading provider of tenant development services for office property owners in the metro Atlanta market, as well as for industrial property owners in markets throughout the Southeast.
Where Are We Headed?
The owners of VeenendaalCave recognized the need to develop specific long-term strategies for sustained growth, succession planning, building value and continuity of the firm, when the time comes for them to exit. They sought assistance from The Value Track for outside, objective perspective and a comprehensive approach to addressing these complex issues.
“The idea of a couple of people who were trained as designers getting their arms around these topics was daunting. Our firm had grown to 50+ employees, yet we had no tangible idea of its value. We knew we needed to develop a long-term strategy to ensure that we maximized the value of our efforts as we moved toward retirement in the next eight to twelve years.” ~Ed Cave
Building Strategy, Monitoring Progress
The Value Track guided VeenendaalCave through a strategic planning process that covered long-term vision, exit planning, strategy, succession planning, organizational development and results management. This included helping the partners reach consensus and alignment on a valuation of the firm, a strategic plan, an analysis of growth options, a succession plan and organizational development initiatives…creating a more effective foundation for growth.
“By engaging The Value Track, we were compelled to stay on task. With all of the decisions we make and the issues we deal with in our day-to-day operation of the company, it was important to enlist an experienced, knowledgeable consultant who would guide us through these processes and provide the momentum to keep us moving forward.” ~Christine Veenendaal
The Results – Successful Foundation for Merger
The firm developed a long-term vision, specific goals and the strategies to achieve them. These include additional career path opportunities for employees, two vice presidents becoming shareholders in the firm and a move into a new industry vertical. All of this set the stage for a successful merger in 2015.
“It is comforting to reflect on the progress we’ve made with regard to a clearly defined exit strategy. David was instrumental in guiding us through the process, keeping us on track and helping us to develop the solutions that bring us closer to achieving our long-term objectives.” ~Ed Cave
Working towards a successful transition takes time, thought and an exit strategy plan. But with the right focus and planning, business owners can exit on their own terms!
David Shavzin, CMC