Conference Program - Business Transitions Forum : Business Transitions Forum

Conference Program

CONFERENCE CHAIR

Thomas Kennedy

Chairman and Managing Director, Kensington Capital Partners

Tom Kennedy is the founder of Kensington Capital Partners and Chair of the Investment Committee. Tom serves on the Advisory Boards of several private equity funds and private companies and has been an active supporter of the Private Equity and Venture Capital business in Canada. His public service and philanthropic work has been a longstanding, and focused on education and healthcare.

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All Days VIP Welcome Reception Conference Workshop

SEPTEMBER 16, 2020 | VIP WELCOME RECEPTION FOR BUSINESS OWNERS

5:30 PM - 7:00 PM

VIP WELCOME RECEPTION FOR BUSINESS OWNERS – BY INVITATION

SEPTEMBER 17, 2020 | CONFERENCE PROGRAM

*The conference has been approved for the following continuing education credits:
– CPAs may include this content as verifiable CPD credits.

7:15 AM – 8:00 AM

Registration

7:15 AM – 8:00 AM

Networking & Continental Breakfast

8:00 AM – 8:10 AM

Forum Overview by Conference Chair

This conference is broken down into two areas: process and transaction. The first part of the day will focus on the processes integral to planning for transition, while the second part of the day will help you navigate and understand the ‘ins and outs’ of transactions.

Chair: Thomas Kennedy, Chairman and Managing Director, Kensington Capital Partners

8:10 AM – 8:40 AM

The 30,000-foot Perspective: How Will the Economy Impact Your Business

The decisions you make today will ultimately impact your business in the future. This session will provide insights into both a macro view of the economy, as well as cast a lens on regional and industry sector differences. You will walk away with:

An overview of the current economic conditions and market trends that business owners need to consider when thinking about your business.
An understanding of how these trends are impacting your business.
Insights into the current M&A environment, such as industry consolidations, leading acquirers and other factors which might affect the future of your business.

Speaker:
Pierre Cléroux, Vice President Research & Chief Economist, BDC

8:40 AM – 9:15 AM

Your Roadmap to Transition

Whether the sale of your business is on the horizon or many years away, most experts agree that it can take years to structure a company to increase the probability of a successful sale. Operating your business like you are getting ready for a buyer will help you optimize for success, even if you have no plans to sell. You never know if, or when, there may come a knock on your door? What exactly should you be doing now in order to get your business ready?

This session will provide you with an understanding of the extensiveness of the process and how much advanced planning is required so that you can build your own roadmap with exactly what you need. You will walk away with:

A step-by-step overview of the mechanics of selling and/or transitioning a business
Tactical information to help you identify at what stage should you be considering hiring advisors or other transition experts
The knowledge you need to mitigate risk and maximize reward in or to successfully exit your business with confidence

Speaker:
Stephanie Mooney, Director, Business Development, Trivest Partners

9:15 AM – 10:15 AM

Here’s One for the Books: Lessons from Seasoned Buyers

What do buyers look for when assessing a potential acquisition? Growth prospects, financial health, management team and strategic fit are just a few of the considerations.

In this panel strategic buyers and private equity purchasers will discuss what they look for as acquirers to help you get an understanding of who your ideal buyer might be, or who is the partner you can’t see.

This session will dive into:

The data that matters most to buyers
Lessons these buyers have learned along the way
How did cultural fit impact the purchase process
If you just want to take some cash off the table, what kind of partner or buyer is right for you

Moderator: Ilan Jacobson, Founding Partner & CEO, FirePower Capital

Panel:
Jeff Pocock, Partner, Transactions National M&A and Private Equity Leader, Grant Thornton LLP
Pamela Miranda, Director, First West Capital
Suganya Tharmalingam, CFO and Managing Director, Kensington Capital

10:15 AM – 10:45 AM

Networking & Coffee Break

10:45 AM – 11:45 AM

Concurrent Sessions: A1 – A3 The Processes Integral to Planning for Transition

A1: Scaling Your Business in Preparation for Transition

Companies should be bought, not sold. Putting an emphasis on systematically growing your business could be your trojan horse to attracting the right type of buyer for your business. Increasing revenues, market share or scaling operations will help make your business that much more attractive to potential acquirers. Learn what steps you should be taking to be in the driver’s seat of your sale.

This session will explore:

How to modernize your business in order to drive data driven results
How to identify growth opportunities that will help you maximize profitability, whether your choose to sell or not
Strategies, tactics and metrics you can put to work right away that will have an immediate impact as well as set your company up for greater future success.

Moderator: Randy Williamson, Partner, Aird & Berlis LLP

Panel:
Jess Grossman, Founder & CEO, In Social
Oren Horovitz, Director, Value Maximization, FirePower Capital
John Hotson, Partner, Business Transition Alliance
Ian Macdonell, Managing Director, Crosbie & Company Inc.

A2: Executing An Effective Management Buyout or Buy-in

A management buyout can be an excellent succession strategy and an opportunity for senior managers to become owners. When considering a Management Buyout (MBO), how do you equip your management team to become a credible bidder for the business? How is your leadership team positioned to perform? Have you effectively replaced yourself with the right skill sets and integrated your best people into the company’s operations so they are prepared to become owners? Is the team aware of the risks and opportunities involved? This session will cover:

When should you begin your succession planning
How to prepare your senior management team for transition and the shift in leadership roles
Strategies for partner buyouts
Different types of financing and strategies to increase cash flow
Implementing your post-closing transition plan

Moderator: Conor Snape, Director, Growth & Transition Capital Greater Toronto Area, BDC Capital

Panel:
Paul Barber, CEO, Prophix Software Inc.
Adrian Bartha, CEO, eCompliance Management Solutions Inc.
Claudio Gatti, Co-CEO, ClaroNav Inc.

A3: Strategies to Maximize Price & Negotiate Deal Terms

This panel will dive into best practices, industry myths and misconceptions, and alternatives for consideration in designing a process to structure your transaction for a fair price. Through an interactive discussion you’ll learn:

How to decide on the breadth and nature of a sale process
Why timing and deal tension matters, and how to create it
Which terms have an impact on price, and which do not

The role advisors can play through the sale process, and when and how to manage them

Moderator: Ian Michael, Partner, Bennett Jones LLP

Panel:
Mark Brodkin, Managing Director & Head, Roynat Equity Partners, Roynat Capital
Mia Pearson, CEO, MSL Group Canada
Kevin Tremblay, Managing Director, MNP

11:45 AM – 12:50 PM

Networking Lunch

12:50 PM – 1:20 PM

Luncheon Keynote: Fireside Chat – REFLECTIONS ON LIFE AFTER THE CLOSE

Eddy Burello will join Beric Farmer in a fireside chat to discuss his business transition story and reflect on the deal in the rear-view mirror. Learn how the transition affected Beric’s personal and professional life. What would he change if he was to do it all again, if anything? Would he have negotiated differently, worked with different strategic advisors or does he second guess his decision to exit? The discussion will help build and broaden your frame of reference through an understanding of:

The pitfalls that could have been avoided
The impact on family during the transition process and how to build a support network
Transitioning your identify from business owner to retiree
Navigating future endeavours and finding new purpose

Host: Eddy Burello, Partner, MNP

In discussion with:
Beric Farmer, Co-Founder, XE.com

1:30 PM – 2:20 PM

Concurrent Sessions: B1 – B3 Learning to Navigate the ‘Ins and Outs’ of Transactions

B1: Effectively Structuring Your Company for Transition

When you sell or transition your business you may face a significant tax bill. If you’re not careful, you could find yourself with less than half of the purchase price in your pocket. Fortunately, with the right preparation and enough time to implement, there are a number of opportunities to limit or even eliminate tax. This is the ideal session for CEO’s and CFO’s to attend.

This session will look at real-world examples:

How to structure your company well in advance of a potential sale or recapitalization
What options to consider to reap the benefits and avoid pitfalls
Tactics to avoid major post-sale surprises
Options for how to manage what are no longer business expenses in your life post-transition

Moderator: Maria Severino, National Tax Leader, RSM Canada

Panel:
Dianne White, Principal, Nexus Investment Management
Stephen Rupnarain, Partner, RSM Canada
Yogi Sennik, CEO, Joriki Inc.

B2: Common Deal Challenges: How to Address & Avoid them

In order to attract a wide range of financial and/or strategic buyers, you must identify the areas of risk within your business well in advance. Potential buyers and their advisors will be on the lookout for red flags and trouble spots once an offer is on the table; this is your chance to learn about “deal breakers” that work within your business so that you and your advisors can prepare. Common challenges that will be discussed include:

Working capital and tax structure issues
Declining company or economic performance during the process
Unsophisticated legal counsel
How to maintain confidentiality during the deal
Delays in obtaining third-party consents
“Deal fatigue”

Panel:
Bill Black, President, Exit Planning Group
William Huk, Regional Vice President, Ontario East, Roynat Capital
Peter Stefanovich, Managing Partner, Left Lane Associates
Kris Yungblut, Vice President, Grant Thornton LLP

B3: Sunday Night Dinner ~ A Family Discussion

Family businesses are unique in that transitioning them to the next generation is a complex, often deeply emotional, endeavour. How do you prepare for a generational business that is resilient, while keeping the legacy you have built intact. Building capacity in the next generation needs to begin early on, and you may also need to consider that your family heirs may have neither the skills nor desire, to be part of your succession plan. In this session panelists will share their unique tools and perspectives so that you can successfully plan for your own family business transition.

You will learn:

What measures do you need to be taking to professionalize your family owned and operated firm?
How are you supporting a shift in leadership?
How do you ensure you have the right governance in place?
How do you assess the need for outside non-family executives if your family successors aren’t the right fit
Strategies and tactics to deal with the impact this transition will have on your family

Speakers:
Susan Fulford, Managing Director, Dynamic Legacy Inc.
David Shlagbaum, Senior Counsel/ Facilitator, Pallett Valo LLP

2:20 PM - 2:40 PM

Networking & Coffee Break

2:40 PM – 3:15 PM

The Valuation Levers – What’s Your Company Really Worth?

Do you really know what your business is worth? Most business owners don’t get nearly what they should because they weren’t prepared, and this can gravely affect the value of your company. As a business owner, it’s imperative to focus on the specific areas of your business that drive value, even if you have no immediate intention of selling. Furthermore, a successful sale for your shareholders can be very different from what you, the business owner, defines as a success. From the get-go you should understand the levers you need to “push or pull” in order to optimize the results you are looking for.

This session will explore key value drivers that require immediate attention in order to maximize the saleability of your business.

Speaker:
Alana Geller, Partner, Richter

3:15 – 4 PM

War Stories: The Good, The Bad & The Ugly

Hear from a panel of business owners who have gone through transition with their business and now have the opportunity to share their tales from the trenches. This panel will share insights on:

What they wish they had known at the beginning of their transition journey and what would they have done differently
Did they get the price they asked for based on timing and deal terms
Key learnings they have brought into their next endeavours
The personal side of post-transition

Moderator: Thomas Kennedy, Chairman and Managing Director, Kensington Capital Partners

Panel:
Caroline Bolduc, Founder and CEO of Bold Canine
Sab Ravalli, Executive Chair, Prodomax Automation Inc.
Richard Wilson, Founder and CEO, Agnora Glass

4 PM – 5:15 PM

Cocktails & Conversation Networking Reception

Program, Schedule, and Speakers Subject to Change Without Notice

SEPTEMBER 18, 2020 | ENTREPRENEUR WORKSHOP (ADD-ON OPTIONAL)

A not-to-be-missed educational workshop for business owners who are looking for a deeper dive in transitioning their business.

In the four distinct sessions this half-day workshop we’ll take a more detailed look into operational and financial engineering that can take years to execute – guaranteed to increase the value of your business and improve the probability of finding buyers when the time is right. We’ll show you which areas of your business buyer’s value most (and why), and explain how to manage personal and corporate risk.

The sessions will focus on case studies to provide real life situations to assist you with your transition discussions.

Business Transitions Forum Toronto Workshop Sponsors

8:00am - 8:05am

OPENING COMMENTS BY BDC

8:05am - 8:55am

Part 1 – Negotiation & Deal Dynamics

Negotiating the sale of your business can vary significantly, not only between bidders but also with any particular potential buyer. The process selected and terms dictated by the seller in a transaction will impact the “price” paid. It is fundamental to understand how the selling process will impact what you receive for your company. The panel will discuss and elaborate on best practices, industry myths and misconceptions, and alternatives for consideration in designing a process to structure your transaction for a fair price.

Speakers:
Danish Jamal, Director, Corporate Finance, MNP
Kevin Tremblay, Managing Director, MNP

8:55am - 9:45am

Part 2 – Strategies to Maximize Price

It’s often possible to sell your business for 50% more if you do everything right. Unlike selling a share on the stock exchange or a home in the residential real estate market, the process of selling your business is deemed “inefficient” by economists. In an efficient market like the ones listed above, the price of your asset is not significantly affected by the actual selling process. Contrarily, in the M&A market, the selling process itself can have a major impact on the price of your company. Plan and execute the process correctly and you could increase the price of your company by upwards of 50%. The speaker will elaborate on industry myths, and misconceptions to provide you with the knowledge and tools to sell your company for a higher price.

Speakers:
Alan Chettiar, Partner, Investment Banking, FirePower Capital
Ilan Jacobson, Founding Partner & CEO, FirePower Capital

9:45am - 10:05am

Networking Break

10:05am - 10:55am

Part 3 – Managing Unintended Consequences

How to protect yourself from unexpected business risk prior to a transaction
How to prepare your company (and you personally) for a successful sale.
Learn what risks should be addressed, including subtleties of legal agreements, non-compete clauses, wills that misalign with shareholder’s agreements, powers of attorney and more
There are several ways to structure the sale your company (including how and when you get paid). What are your options?
Learn how to manage confidentiality and protect yourself against rogue competitors, suppliers, employees or customers.
Tactics to avoid major post-sale surprises
Shrewd buyer tactics that you need to know about

11am - 11:50am

Part 4 – Understanding a Private Equity Buyout

Private equity is a daunting and often mis-understood industry.  This session will simplify the industry and show, through examples, how private equity can provide liquidity solutions for your business.   Whether it is a Leveraged Buyout or a Management Buyout, the structure is very similar.    A management buyout is an elegant, private equity solution and this session will show you how it helps the business owner and the management team, together.

Speakers:
Dan Lioutas, Managing Director, Transactions, Grant Thornton LLP
Jeff Pocock, Partner, Transactions National M&A and Private Equity Leader, Grant Thornton LLP

11:50am - 12:00pm

Closing Comments

Program, Schedule, and Speakers Subject to Change Without Notice

SEPTEMBER 17, 2020 | CONFERENCE PROGRAM

*The conference has been approved for the following continuing education credits:
– CPAs may include this content as verifiable CPD credits.

7:15 AM – 8:00 AM

Registration

7:15 AM – 8:00 AM

Networking & Continental Breakfast

8:00 AM – 8:10 AM

Forum Overview by Conference Chair

Chair: Thomas Kennedy, Chairman and Managing Director, Kensington Capital Partners

8:10 AM – 8:40 AM

The 30,000-foot Perspective: How Will the Economy Impact Your Business

An overview of the current economic conditions and market trends that business owners need to consider when thinking about your business.
An understanding of how these trends are impacting your business.
Insights into the current M&A environment, such as industry consolidations, leading acquirers and other factors which might affect the future of your business.

Speaker:
Pierre Cléroux, Vice President Research & Chief Economist, BDC

8:40 AM – 9:15 AM

Your Roadmap to Transition

A step-by-step overview of the mechanics of selling and/or transitioning a business
Tactical information to help you identify at what stage should you be considering hiring advisors or other transition experts
The knowledge you need to mitigate risk and maximize reward in or to successfully exit your business with confidence

Speaker:
Stephanie Mooney, Director, Business Development, Trivest Partners

9:15 AM – 10:15 AM

Here’s One for the Books: Lessons from Seasoned Buyers

What do buyers look for when assessing a potential acquisition? Growth prospects, financial health, management team and strategic fit are just a few of the considerations.

This session will dive into:

The data that matters most to buyers
Lessons these buyers have learned along the way
How did cultural fit impact the purchase process
If you just want to take some cash off the table, what kind of partner or buyer is right for you

Moderator: Ilan Jacobson, Founding Partner & CEO, FirePower Capital

10:15 AM – 10:45 AM

Networking & Coffee Break

10:45 AM – 11:45 AM

Concurrent Sessions: A1 – A3 The Processes Integral to Planning for Transition

A1: Scaling Your Business in Preparation for Transition

This session will explore:

How to modernize your business in order to drive data driven results
How to identify growth opportunities that will help you maximize profitability, whether your choose to sell or not
Strategies, tactics and metrics you can put to work right away that will have an immediate impact as well as set your company up for greater future success.

Moderator: Randy Williamson, Partner, Aird & Berlis LLP

A2: Executing An Effective Management Buyout or Buy-in

When should you begin your succession planning
How to prepare your senior management team for transition and the shift in leadership roles
Strategies for partner buyouts
Different types of financing and strategies to increase cash flow
Implementing your post-closing transition plan

Moderator: Conor Snape, Director, Growth & Transition Capital Greater Toronto Area, BDC Capital

Panel:
Paul Barber, CEO, Prophix Software Inc.
Adrian Bartha, CEO, eCompliance Management Solutions Inc.
Claudio Gatti, Co-CEO, ClaroNav Inc.

A3: Strategies to Maximize Price & Negotiate Deal Terms

How to decide on the breadth and nature of a sale process
Why timing and deal tension matters, and how to create it
Which terms have an impact on price, and which do not

The role advisors can play through the sale process, and when and how to manage them

Moderator: Ian Michael, Partner, Bennett Jones LLP

Panel:
Mark Brodkin, Managing Director & Head, Roynat Equity Partners, Roynat Capital
Mia Pearson, CEO, MSL Group Canada
Kevin Tremblay, Managing Director, MNP

11:45 AM – 12:50 PM

Networking Lunch

12:50 PM – 1:20 PM

Luncheon Keynote: Fireside Chat – REFLECTIONS ON LIFE AFTER THE CLOSE

The pitfalls that could have been avoided
The impact on family during the transition process and how to build a support network
Transitioning your identify from business owner to retiree
Navigating future endeavours and finding new purpose

Host: Eddy Burello, Partner, MNP

In discussion with:
Beric Farmer, Co-Founder, XE.com

1:30 PM – 2:20 PM

Concurrent Sessions: B1 – B3 Learning to Navigate the ‘Ins and Outs’ of Transactions

B1: Effectively Structuring Your Company for Transition

This session will look at real-world examples:

How to structure your company well in advance of a potential sale or recapitalization
What options to consider to reap the benefits and avoid pitfalls
Tactics to avoid major post-sale surprises
Options for how to manage what are no longer business expenses in your life post-transition

Moderator: Maria Severino, National Tax Leader, RSM Canada

Panel:
Dianne White, Principal, Nexus Investment Management
Stephen Rupnarain, Partner, RSM Canada
Yogi Sennik, CEO, Joriki Inc.

B2: Common Deal Challenges: How to Address & Avoid them

Working capital and tax structure issues
Declining company or economic performance during the process
Unsophisticated legal counsel
How to maintain confidentiality during the deal
Delays in obtaining third-party consents
“Deal fatigue”

B3: Sunday Night Dinner ~ A Family Discussion

You will learn:

What measures do you need to be taking to professionalize your family owned and operated firm?
How are you supporting a shift in leadership?
How do you ensure you have the right governance in place?
How do you assess the need for outside non-family executives if your family successors aren’t the right fit
Strategies and tactics to deal with the impact this transition will have on your family

Speakers:
Susan Fulford, Managing Director, Dynamic Legacy Inc.
David Shlagbaum, Senior Counsel/ Facilitator, Pallett Valo LLP

2:20 PM - 2:40 PM

Networking & Coffee Break

2:40 PM – 3:15 PM

The Valuation Levers – What’s Your Company Really Worth?

This session will explore key value drivers that require immediate attention in order to maximize the saleability of your business.

Speaker:
Alana Geller, Partner, Richter

3:15 – 4 PM

War Stories: The Good, The Bad & The Ugly

Hear from a panel of business owners who have gone through transition with their business and now have the opportunity to share their tales from the trenches. This panel will share insights on:

What they wish they had known at the beginning of their transition journey and what would they have done differently
Did they get the price they asked for based on timing and deal terms
Key learnings they have brought into their next endeavours
The personal side of post-transition

Moderator: Thomas Kennedy, Chairman and Managing Director, Kensington Capital Partners

Panel:
Caroline Bolduc, Founder and CEO of Bold Canine
Sab Ravalli, Executive Chair, Prodomax Automation Inc.
Richard Wilson, Founder and CEO, Agnora Glass

4 PM – 5:15 PM

Cocktails & Conversation Networking Reception

Program, Schedule, and Speakers Subject to Change Without Notice

SEPTEMBER 18, 2020 | ENTREPRENEUR WORKSHOP (ADD-ON OPTIONAL)

A not-to-be-missed educational workshop for business owners who are looking for a deeper dive in transitioning their business.

The sessions will focus on case studies to provide real life situations to assist you with your transition discussions.

8:00am - 8:05am

OPENING COMMENTS BY BDC

8:05am - 8:55am

Part 1 – Negotiation & Deal Dynamics

Speakers:
Danish Jamal, Director, Corporate Finance, MNP
Kevin Tremblay, Managing Director, MNP

8:55am - 9:45am

Part 2 – Strategies to Maximize Price

Speakers:
Alan Chettiar, Partner, Investment Banking, FirePower Capital
Ilan Jacobson, Founding Partner & CEO, FirePower Capital

9:45am - 10:05am

Networking Break

10:05am - 10:55am

Part 3 – Managing Unintended Consequences

How to protect yourself from unexpected business risk prior to a transaction
How to prepare your company (and you personally) for a successful sale.
Learn what risks should be addressed, including subtleties of legal agreements, non-compete clauses, wills that misalign with shareholder’s agreements, powers of attorney and more
There are several ways to structure the sale your company (including how and when you get paid). What are your options?
Learn how to manage confidentiality and protect yourself against rogue competitors, suppliers, employees or customers.
Tactics to avoid major post-sale surprises
Shrewd buyer tactics that you need to know about

11am - 11:50am

Part 4 – Understanding a Private Equity Buyout

Speakers:
Dan Lioutas, Managing Director, Transactions, Grant Thornton LLP
Jeff Pocock, Partner, Transactions National M&A and Private Equity Leader, Grant Thornton LLP

11:50am - 12:00pm

Closing Comments

Program, Schedule, and Speakers Subject to Change Without Notice

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