Succession with a twist heads for the capital

Succession with a twist heads for the capital

Auckland company Platform 1TM isn't your typical succession planning consultancy. Instead of helping with exits or passion the baton to the next generation of family members, it assists business founders to become investors.

It started out 12 years ago in executive search, but is now in the business of 'leadership transition'. It says it caters for business owners "who want to increase the wealth in their businesses but have either run out of ideas or energy and might be looking for an alternative to selling" and introducing a general manager who might later take a minority shareholding is part of that process.

“We give business owners an alternative to selling their businesses outright ... they get a better income stream and better lifestyle,” says partner Geoff Shaw.

"Leadership transition requires much more assessment at the front end and more in-depth understanding of where the business owner wants to go and what their business needs are,” he says, adding its facilitated more than 45 leadership transitions in more than a decade.

Now the venture is headed for Wellington, where Shaw says there are big opportunities to expand.

"It makes sense to bookend the North Island from Auckland and Wellington,” he says.

He says businesses operating outside the main centres tend to get overlooked: “They fall off the radar — some of our biggest successes have been in the regions.”