Rubin Rudman attorneys Christine Parise Cordes and Neal Splaine, Co-Chairs of the firm’s Corporate, Business & Tax Practice, were recently featured in citybiz in a Q&A focused on M&A for family-owned companies.

In the article, Christine and Neal examine the unique complexities involved in selling a family-owned business, emphasizing that these transactions extend far beyond financial considerations. They explore how personal legacy, family dynamics, and multi-generational interests shape decision-making, often requiring alignment among a broad group of stakeholders with differing priorities.

The discussion outlines the key factors that motivate owners to pursue a sale—ranging from succession challenges to market pressures—and addresses common misconceptions about the M&A process, including the overemphasis on valuation and the underestimation of preparation required. Our attorneys also highlight the importance of early planning, thoughtful deal structuring, and selecting the right buyer, noting that non-economic terms such as cultural continuity, employee retention, and post-closing involvement frequently carry as much weight as price.

Ultimately, the article underscores how emotions and legacy considerations influence negotiations and outcomes, and how experienced advisors can help balance these factors to achieve a successful and meaningful transition.

This Q&A is part of an ongoing series examining the evolving needs of family-owned and closely held businesses—an essential segment of the regional economy. They recently explored what makes the outside general counsel relationship effective—and why it is often critical to long-term success.