Approximately 80% of today’s privately held companies will not survive into the next generation of family ownership. The failure to establish a comprehensive succession plan is a leading cause of this phenomenon.
Calfee helps privately held companies prepare and transition to the next generation of owners and managers. Our corporate, tax, and estate planning attorneys provide individualized, innovative solutions to corporate succession issues that increase survival opportunities, ensure estate liquidity, address family issues, and maximize planning flexibility.
Every successful, privately held business needs a corporate succession plan. Even if the business is young, or the next generation has not stepped forward, a succession plan should be implemented in order to avoid the hardships of an unplanned transition or worse, a government-dictated disposition.
A good corporate succession plan is a flexible plan that changes as the circumstances of the business and its owners change. The cornerstone of a good corporate succession plan is business survival.
At Calfee, we work with business owners to help them understand succession options and to implement a plan that best accomplishes their goals and best meets the needs of their families.
After the initial plan has been put in place, our continuing relationship with clients enables us to recommend appropriate responses to changing business or family circumstances.
Chambers USA Band 2 Ranking in Corporate/M&A - Ohio: North
For more than a decade, Calfee has been ranked for Corporate/M&A - Ohio: North by Chambers USA; most recently, Calfee was ranked in Band 2 in 2021.
Chambers USA commentators noted Calfee's Corporate and Finance practice "Draws from an impressive statewide team with a strong track record across a broad range of corporate and transactional matters, acting on behalf of public and private businesses and financial institutions. Areas of excellence include M&A, securities offerings and private equity and venture capital fund formation. [Calfee also] offers notable capital markets expertise, with particular strengths in acting for underwriters."
A source interviewed by Chambers USA researchers in 2021 said, "They consistently bring strong talent to any situation, operate in a seamless manner and remain calm even under stressful circumstances." Chambers USA also mentioned "A client appreciates the team's 'business-oriented, practical approach.'"
Calfee Firm Chairman, Douglas A. Neary, was ranked by Chambers USA 2021 as an Eminent Practitioner in Corporate/M&A - Ohio: North. Chambers USA commentators noted, "[Doug] combines his position as the firm's chairman with an active corporate practice, where he advises a range of private and publicly held businesses on M&A, financing matters and wider advisory issues." A client attested, "He brings an even-keeled approach and great judgment to bear in matters. He has tremendous people skills and is extremely responsive." Another client said, "He's a smart, sensible attorney with broad corporate experience."
Firm Administrative Partner, Arthur C. Hall III, was ranked by Chambers USA 2021 in Band 3 in Corporate/M&A - Ohio: North. Chambers USA researchers noted, "[Art] is particularly well versed in advising public companies and investors on financing issues and corporate governance matters." A client interviewed by Chambers USA researchers mentioned, "He's a no-nonsense corporate lawyer who is candid and transparent about his client's position and tries to facilitate the transaction." Another client reported, "He's responsive, practical and on point in his advice and work."
Calfee's Senior Chairman, Thomas F. McKee, was ranked by Chambers USA 2021 as a Senior Statesperson in Corporate/M&A - Ohio: North. Chambers USA researchers commented, "[Tom] is considered a trusted adviser to corporate clients on transactional and governance-related issues, most notably on capital markets work. He currently serves as the firm's senior chairman." A client of Tom's was quoted saying, "He's an excellent, well-known corporate adviser with a wealth of experience." Another client remarked, "He has a sterling silver reputation for his experience acting for companies of all sizes."
Partner John J. Jenkins was ranked by Chambers USA 2021 in Band 2 in Corporate/M&A - Ohio: North. Chambers USA researchers stated, "[John] focuses on advising on capital markets matters and M&A, acting for a broad range of businesses, issuers and underwriters." A client interviewed by Chambers USA researchers mentioned, "He takes complicated rules and regulations and makes them simple for clients." An additional client noted, "He's a knowledgeable, respected securities and corporate governance lawyer."
Partner Terrence F. Doyle was ranked by Chambers USA 2021 in Band 4 in Corporate/M&A - Ohio: North. Chambers USA researchers remarked, "[Terry] is held in particularly high regard for his abilities in advising private equity investors on transactional matters, alongside broader corporate work for portfolio companies." A client of Terry's interviewed by Chambers USA researchers commented, "[Terry] is creative, detail-oriented and has a good business mind."
Partner and Corporate and Finance practice Co-Chair, Jennifer L. Vergilii, was ranked by Chambers USA 2021 in Band 4 in Corporate/M&A - Ohio: North. Chambers USA researchers noted, "[Jenn's] clients regularly call upon her to handle a broad array of M&A and capital markets transactions." A client interviewed by Chambers USA remarked, "She's a pragmatic corporate and transactional lawyer who understands what the important issues are." Another client responded, "She is responsive, effortlessly works on issues and has cross-border contacts to assist with matters."
Partner and Corporate and Finance practice Co-Chair, Thomas M. Welsh, was ranked by Chambers USA 2021 in Band 4 in Corporate/M&A - Ohio: North. A client interviewed by Chambers USA researchers remarked, "[Tom's] strengths include critical thinking, understanding the market, attention to detail and timely communication."
Chambers USA Band 2 Ranking in Banking & Finance (Ohio)
Calfee's Corporate and Finance practice was ranked by Chambers USA in Band 2 for Banking & Finance in Ohio in 2021. Chambers USA researchers noted that Calfee's banking and finance practice is "Esteemed for its experience in advising major financial institutions and corporate borrowers across a host of banking and finance-related issues, with particular expertise in the manufacturing and industrial sectors. Areas of significant strength include financing corporate transactions, capital markets work, bankruptcy and workout matters and counseling on regulatory compliance."
A client interviewed by Chambers USA researchers relayed, "The banking and finance team has a strong reputation locally and always has their fingers on the pulse of the local transaction community and business leaders." A source added that the practice is "a technically proficient team of tireless workers and strong negotiators." Another source remarked, "Their strengths are their responsiveness and ability to address business issues."
Partner and Co-Chair of Calfee's Corporate and Finance practice, Karl S. Beus, was ranked by Chambers USA 2021 in Band 2 for Banking & Finance in Ohio. A client interviewed by Chambers USA researchers mentioned, "[Karl is] knowledgeable on the subject matter of credit facilities and has a good working relationship with banks." Another client said, "He's a pragmatic deal-maker who always gets to the desired outcome for his clients and is available when needed."
Partner in the Corporate and Finance practice group and a leader of the Private Equity practice, Ann Z. Seger, was ranked by Chambers USA 2021 as an "Up & Coming" attorney in Banking & Finance in Ohio. A client interviewed by Chambers USA researchers noted, "[Ann] is detail-oriented, incredibly responsive and always happy to help regardless of time of day." Another source remarked, "She's proactive, understands and explains market terms well and provides quality recommendations."
U.S. News – Best Lawyers® “Best Law Firms” Rankings
Calfee was selected for inclusion in the 2021 "Best Law Firms" rankings by U.S. News – Best Lawyers in the following areas:
IFLR1000 (United States), Guide to the World's Leading Financial and Corporate Law Firms and Lawyers
Calfee was selected for inclusion in IFLR1000 – Guide to the World's Leading Financial and Corporate Law Firms:
Clients responding to the IFLR1000 survey reported the following regarding Calfee's M&A and Capital Markets team:
IFLR1000 researchers quoted a Calfee client describing Calfee's Banking Group in the following way: "Everything they did seemed a level above all my prior dealings with other law firms."
Succession Planning Analysis
Succession Techniques
Calfee's Corporate and Finance practice "draws from an impressive statewide team with a strong track record across a broad range of corporate and transactional matters. Areas of excellence include M&A, securities offerings and private equity and venture capital fund formation. They also offer notable capital markets expertise, with particular strengths in acting for underwriters."
Researcher comments from the Chambers USA 2021 Guide
