Three co-owners from Select Machine in Ohio talk about their decision to create a succession plan that transitioned their 16-year old business into a cooperative of the workers. The Select Machine story is an encouraging instance of successful transition. The retirement of business owners whose heirs are not interested in taking over the enterprise can potentially be a liquidation of jobs and other community assets the business holds. Transition into a cooperative of the workers can be an attractive alternative that multiplies the economic value of the business.

via the Ohio Employee Ownership Center

Related

• New York Times blog features the Select Machine buyout