Technolution prepares for a handover
A generational handover can be a huge challenge for many companies. Especially, when the company’s success is closely linked to the owner’s personal network. In Technolution, we have chosen to make all employees co-owners today to ensure a future handover within the next 5-10 years.
The board has been working strategically for several years focusing on a future handover, including preparing owner Allan Spork’s influence on the day-to-day operations for more overall duties on the board. The time horizon is about 10 years and it must be ensured that the experienced leadership team and the valuable personal network does not get lost in the process.
“It takes time to make a good and sound handover, so we have proceeded with the task with due diligence to prepare the company well in advance,” says Allan Spork, adding that he will not let Technolution go completely before he is sure that Technolution can stand on its own, no matter how long it will take.
“We considered merging with another consultancy company and we have also been offered to be bought. However, we realized that if we are to achieve the growth we plan and at the same time maintain the soul of the company during the handover, the process has to take place within our own ranks. We now have the right people on our team who can take our various business areas even further, “says Allan Spork, who at the same time believes that the handover will make Technolution even stronger in the future.
“12-15 employees have typically been what I have been able to handle with the circumstances given. If we are to move on from there, we need someone who can go all in, take responsibility and use their network with the same skills as I have. ”
The decision to make employees co-owners was made in order to solve more future challenges in connection with the change in ownership. Today, Technolution’s growth is driven solely by Allan Spork’s management and the network he has been nurturing for many years. The board has realized that it will not be an easy task to replace him.
“Over the next 5-10 years, our team must learn to think as owners. If you think as an owner, whether you are a small or a major shareholder, the entire business will benefit, “says Allan Spork, hoping that the new co-owners will use and expand their personal network so they will add the same value to the company over time that his network does today.
In Technolution, we expect our decision to generate increased growth, as a high price on the company’s shares will be a common goal for the employees also. This is an expectation that Kasper Friis, one of the new partners, endorses.
“As a partner, I feel an even greater connection to Technolution. To an even larger extent, I focus on the bottom line of the company and how we can promote the company’s interests while at the same time addressing our clients’ challenges. This motivates me even more to preform,” he says.
The news has reached the press. Read the MedWatch article here! (in Danish)