Been with the company a decade +; worked my way up from an hourly role. The owners are sincerely good people and are employee-centric, and I've turned down headhunters offering higher salaries to stay here because of the positive culture. We trust each other with each other's kids if that means anything. But I (and they, technically) have never been through an acquisition before.
Acquisition had been discussed prior as a way for us to remain relevant and expand, but not as in-depth as we're discussing now.
They are selling the assets of the company, and everyone including the CEO and COO are rolling into the new company and we're maintaining the current org structure. New company is also privately owned, and our company values seem to align.
Not worried about my job loss due to redundancy as the acquisition brings a new service line that the parent company has absolutely none of. Basically, our current company will become a new division but we'll operate as is, just with greater access to resources and operational and sales infrastructure; parent company can now enter new bids and markets that they didn't previously have the expertise for.
New company seems like a good one based on everything I can find online, but admittedly we managers are still trying to parse out how we'll interface within this new entity. We're so used to wearing multiple hats and getting things done collaboratively and quickly, versus the siloing that'll likely happen in this new corp.
Onboarding is supposed to happen within a month, but as I understand it we'll be offboarded from our current company, and immediately hired by the new parent company on a specific date. All existing tenures will be recognized, and benefits will be equal if not better with the new company. Owners said they've secured our roles for at least the next two years.
But none of us managers have these details in writing since no agreement has been signed yet. That will all be provided by Operations and the new HR after the deal is closed.
The current owners (my bosses) have operated our company conservatively so I'm sure they're doing their due diligence.
Practically speaking I'm planning to maintain my role and just switch over, but what should I be asking about at this point?
Submitted April 27, 2023 at 02:23AM by intotheroomboobingly https://ift.tt/QU8otJS
