Arbikie Estate is a family-owned working farm perched on the east coast of Angus. Here, the crop is king and they painstakingly plant, sow, tend and harvest the fields that make up Arbikie. This is a family business where they are craftsmen of the soil and an estate profoundly shaped by its environment: the red sandstone-tinted soil, the powerful sea and the turbulent weather give Arbike a character found nowhere else. And here, situated where land meets sea, sits the distillery – created from an ancient barn, it is a place with all the ingredients required to produce authentic spirits of the highest quality. The family has been farming at Arbikie for four generations. From father to son, they have gained an intuitive understanding of the land, sowing and harvesting the crops that now create Arbikie’s range of field to bottle spirits. Farming in the Stirling family goes back even further – since 1660, initially on the west coast. Their lands passed through seven generations until great uncle Bill moved to farm at Arbikie on the east coast of Angus in the 1920’s. He then passed it to the grandfather of the current owners, John Stirling who expanded the acreage before passing the lands over to Alec Stirling. Brothers John, Iain and David are the visionaries and driving force behind the Arbikie Distillery. As with all farming families, the brothers grew up working around the farm, and It is this hands-on experience that gave them a deep understanding and respect of the land. Despite pursuing careers away from farming, they have always stayed attached to the family lands – and now with the opening and growth of the Arbikie Highland Estate distillery, they have returned to drive this exciting and continually evolving venture. Join Paul Andrews as he interviews one of the Arbikie directors, Iain Stirling, in understanding more about the values, purposes and drivers behind the business, and their role as custodians of the family firm for future generations.

Chase are a family owned, British field to bottle distillery, creating luxury spirits from their farm in Herefordshire. They set up the business in 2008 to challenge the status quo in the white spirits industry. If people are interested in the terroir for their wine or the barrel ageing for their whisky, then why shouldn’t they be interested in how their white spirits have been crafted? The business has become a family affair; with Will’s older sons Harry and James working within the business. Harry manages Chase Farm and farms 300 acres of potatoes which are grown on a 5-year crop rotation and James works as their Global Brand Ambassador educating customers and consumers about their field to bottle philosophy. This short film clearly shows the family business brand and values beautifully. Find out more at www.chasedistillery.co.uk

At Riboli Family Wines, they pride themselves in maintaining their core family values while also employing innovative techniques that will keep their legacy alive for generations to come. Each Riboli family member maintains a steadfast commitment to honouring not only the premiere craftsmanship of wines, but also their dedication to environmental sustainability and to the people that make up their family business. This is a story of a family legacy built on hard work, family values and a love for the land. An American Winery of the Year Winner, check out this short film that explains all there is to know about the family behind this award winning family business.

Founded in 1905, Bridge of Weir Leather Company is a privately owned Scottish Company operating one of Europe’s largest leather production facilities. Historically, the Bridge of Weir roots can be traced back to 1758, seven generations of family involvement in leather manufacture. Throughout, they benefited from Scotland’s advantages of an indigenous skills base, prime beef herds and a plentiful supply of soft, pure water. Bridge of Weir Leather Company is the UK’s only leather manufacturer for the automotive industry, and as part of the Scottish Leather Group operates one of the largest tanneries in Europe exporting to over 60 countries around the world. Bridge of Weir has been at the forefront of innovation and quality for over a century. Where there have been major advances in motoring, furniture or travel, Bridge of Weir leather has played its part. Only the finest hides sourced from the best heritage breeds are used and generations of hand-finished craftsmanship create a unique alchemy resulting in the finest Scottish leather. Check out the film behind this family business manufacturer and see the history and heritage unfold.

Many of Germany’s predominately family-owned Mittelstand businesses are likely to come under the hammer over the next ten years presenting a boom in mergers and acquisitions in Europe’s biggest economy. But these businesses will need help to navigate the sales process, says an M&A specialist Harald Link. The post World War Two economic boom in Germany gave rise to many mid-sized family businesses as well as seeing existing businesses flourish. Many of these businesses are today dealing with succession issues and question marks over how they can continue to grow in a world economy dealing with unprecedented disruptive forces. Some will adapt through innovation driven by the next generation of owners and continue to grow as family businesses, but others will see an opportunity to sell, or at least bring in outside capital to accelerate their growth efforts. “Germany’s family businesses will look to find an internal solution to grow their businesses, but if that isn’t found and succession presents a problem then they will look to sell the company,” says Harald Link, who runs an M&A specialist consultancy in Hamburg and works with many of the country’s Mittelstand businesses. “A trade sale is the preferred option, then followed by a private equity or family office sale. The least preferred option is to go public through a listing,” says Link. The sale of the Wirtgen Group in 2017 to US company John Deere is perhaps an example of this trend. Wirtgen, a construction machinery group based in a town called Windhagen, south of the city of Cologne, is a good example of a family-owned Mittelstand business that grew rapidly after it was founded in 1961. Facing succession issues and an offer too good to refuse, second generation owners Stefan and Jürgen Wirtgen decided to move on to other opportunities and sell the business. Other businesses are likely to sell to often foreign buyers looking to gain access to German businesses like Wirtgen, which is a specialist in making high-quality road construction equipment. “Buyers from places like the US and China want these businesses technology,” says Link. Others will look to sell minority stakes to bring in outside capital and expertise in an effort to grow their businesses, but to remain in control. An example of this trend is Ottobock, a family-owned prosthetics company based in Duderstadt in the middle of the country, which sold 20% of its equity to Swedish private equity group, EQT, last summer. Private equity groups and family offices are particularly looking to do deals in Germany, says Link. “Right now a lot of music is playing in this area.” Link together with Ulrich Hemel, a prominent German entrepreneur, economist and theologian, who has worked with many of the country’s family businesses, has written a book in German entitled: Zukunftssicherung für Familienunternehmen Beteiligungen, Verkäufe, Übernahmen (Securing the future for family businesses: participations, sales, acquisitions). The book offers a guide for the country’s family businesses on how to navigate the next steps on their business journey, which could involve their sale. “The many options open to family businesses also presents them with a challenge,” says Link. “These businesses often aren’t equipped to deal with issues like selling equity to outside buyers. External consultants also use their own jargon, making decisions often difficult for these businesses. This book is designed to provide a guide specially tailored to family entrepreneurs.”

Caribbean Blinds UK Ltd are a UK manufacturer of luxury external shading systems from stylish patio awnings that provide instant shade and shelter, to innovative external blinds that offer unbeatable solar heat and light control and an award winning louvered roof Outdoor Living Pod that provides year round use of the outdoor space whatever the weather. Paul Andrews spoke to second generation Managing Director Stuart Dantzic to find out more. When was the business founded? The company was founded as a limited company in 1987 however it was formed back in 1973 as a non limited company. How did you get involved? I was always helping out in the Summer months to earn some pocket money with my roles ranging from sweeping the factory floor to doing some filing. As I got a bit older I was helping with assembly along with taking calls and answering queries. Whilst I was at college, I still worked part time in the business so I had some beer money for the end of each week but I really enjoyed being involved too. Back in 2001 when my parents said they were moving from a rented factory to purchasing a factory in Sudbury as the business was growing I was excited and I wanted to be part of the journey, and the rest, as they say ‘is history’. What did you want to be when you grew up? A lawyer. There was something about being all suited and booted and commanding an audience (jury) in a court room that was very appealing. Whilst I didn’t progress this career path, my favourite programmes and films are typically always lawyer related. What are your first memories of the family business? Aside from the nice yearly holidays which were a result of the business being a success and my parents hard work, I first remember the company when we were based in Hedingham. I remember sitting in my mums office, which was the second door on the right up the corridor and helping out on the Amstrad computer – I can’t remember what I was doing, probably typing something up for her. I do remember the distinct smell of smoke as these were the days when smoking was not prohibited inside of buildings. What values are important in your family/family business? We have to meet or exceed (ideally exceed) clients expectations, every single time and to do this we have solid values based around honesty and integrity. We don’t over promise and under deliver. We provide sound, honest, expert advice to ensure clients make an informed decision and subsequently have the right solution, first time, every time. What is the best thing about being a family business? You’re all working towards the same goal and it’s not all about money. Yes the money helps but you are building a brand, after all it’s your family name and reputation that is on the line. And the worst? I don’t think you every switch off. Even when I meet up with my brother socially, we talk about work. But this is because family businesses are passionate about what they do and are continually striving to improve. What is the best thing about your working day? There are two things, sorry I couldn’t narrow it down to one! First is seeing the site installation photos on the company intranet from our teams of completed installations – it’s great to see the end result of our products and the subsequent positive reviews. The second, and I’m sure many people will agree with me, is success and I’m using this broadly as it can be winning projects, seeing new products we’ve invested in gain traction or simply seeing a happy team when I come into the office and/or the factory – this gives me the most satisfaction. What is your proudest family business achievement? This would have to be when I set up what we refer to as the ‘projects division’ which is the direct arm of the business. This was set up due to a reduction in trade sales following the 2008 recession and targeted architects to incorporate our products into their schemes along with discerning homeowners and businesses direct. Within 5 years of setting this up it was generating more turnover than our trade supply and continues to, to this date. Winning the Suffolk Business Awards Young Business Person of the Year last year (2019) was great too as it recognised what the company has done since I took the reins, doubling turnover in such a short space of time. Is there a next generation waiting in the wings to take over? No, we’re some way off that yet, having just taken the reins ourselves. I would like to think however that the company will still be in the Dantzic family for many years to come. What do you see as the biggest challenge facing family businesses? As a family business we offer value, and I think most family businesses do. Many businesses are looking to make as much money as quick as possible and will sell at lower margins to create volume and then move onto something else, so I think the biggest challenge is competitors underselling and undervaluing products and services. What words do you associate with family businesses? This could be a long list so I will pick just three: Knowledge – family benefits from years of experience, passed through generations Passion – family businesses love what they do and this runs throughout the business Integrity – family businesses grow by their honest, ethical approach – it’s their family name after all which is their reputation and as the business is always looking to the long term, protecting this and ensuring it is known for the right reasons are paramount. Words of wisdom – What piece of advice would you pass on to someone thinking about joining the family business? Make sure (a) you are doing it because you enjoy the business and what it does and not just because your parents want you to join and (b) make sure you get involved in every single element of the business so you know how it truly functions and operates – not only will this enable you to help take the business forward but it will gain the respect of all employees. Find out more at www.cbsolarshading.co.uk or watch Stuart who shared his views as part of our Family Business Insight series here

It’s a dilemma that faces family businesses all too frequently. We saw it recently when we worked with a $4 billion global manufacturing business in Hong Kong. The company was managed by the founder, who turned it over to his son when he retired. The two men had created distribution channels, built a supply chain, entered profitable new markets–and, just as importantly, held the family together, ensuring that family members were well taken care of and that family disagreements didn’t harm the business. Now with the passing of the founder’s son, the third generation–a collection of cousins who are geographically dispersed, prone to disagreements, and lacking the experience necessary to run such a large and complex business–are trying to figure out what to do. It’s a tough situation, and the third generation decided to look outside the family to find a successor CEO. They wanted someone who could reset the strategy; someone to grow the business again; someone who could broker an agreement between the factions of the family who favour reinvesting for growth versus those who favour high dividends. They called this idealised new CEO “Mr. Wonderful.” A worldwide search turned up two leading candidates–both of them superstars. But each person turned down the job. Neither thought the business was ready for a non-family CEO. These rejections were traumatic, but they have proven to be a tremendous gift. No one could have done everything the third-generation cousins wanted. The candidates most likely to accept such a role would either be incompetent in not understanding the complexity involved (thus dooming the business to failure), or, even worse, they would see an opportunity to assume control and push the family aside. The situation this family faces is all too common. They approached the problem of succession believing that what worked successfully in the past would work for their generation. It wasn’t until outsiders began rejecting the CEO position that the family realised that even the most wonderful person could not have managed a business that had now grown so complex. Certain systems and structures had to be put in place first. This was work that only the family owners could do. Businesses don’t need to have billions of dollars in revenue before hitting this point–we see it happen to family companies of various sizes. What should you do if you find yourself in the situation of wanting to bring in an outside CEO? First you’ve got to make some changes yourselves: Step up as owners. Even if you’re used to your parents running the show, it’s time to realise that you’re the owners now, and have the right–and the responsibility–to develop your identity as owners before an outside executive can come in. Part of the problem is that as members of the next generation, many of you have experienced “learned helplessness.” When, over years or decades, you’ve been shut out of decision making, you may not know how to call the shots, whether the patriarch or matriarch is still living–or not. So your first step is often the most difficult: assume psychological ownership. Choose your ownership path. Once you’ve taken on the mantle of being owners, then you’ve all got to get on the same page about where the next CEO should drive the business. Know your agenda. Whether your goal is growth, liquidity, a turnaround, or employing more family members, your desired path dramatically affects what kind of person that you’re looking for, and the background and experience needed. The new guy can’t hit the ground running unless you reach a consensus about where you expect the business to go. Fight the CEO’s fight. Clean up the messes that would hobble the new CEO. If there are family members all over the business that don’t belong there, get them out now. The worst thing that could happen is that Aunt Mary’s son Johnnie is high up in the business, and he’s incompetent. If you leave it to the new CEO to have to remove Johnnie, the leader will lose Aunt Mary’s 15 percent of the vote on the board. That’s a new CEO’s worst nightmare. You will also need to clean up the compensation system. One way patriarchs and matriarchs dominate family business systems for so long is that they buy people off. If someone has a special compensation deal, get rid of it. Change the power structure. When you have a dominant patriarch or matriarch, the power structure typically gets overly centralised with the strong man or woman in the centre sitting on the shareholders’ council, on the board, and running the business. It is impossible to have a successful non-family member CEO succession until this power dynamic changes. Appropriate checks and balances must be put in place. At the very least, you must clearly define and delineate roles for yourselves, the board, and the executive team. One client family reinvigorated their board in order to fill the gaps and correct the blind spots that they knew their CEO had. This strengthened the new guy and convinced the patriarch that it was safe to move aside. Editor’s Note: Some names, locations, and other identifying details in this post have been changed to protect client confidentiality. First Published on 6 December, 2013 in the Harvard Business Review. Reproduced with permission of the author.

In this short video, family owned Butlers Farmhouse Cheeses wanted to celebrate the farmers behind their cheese and recognise all of their hard work. It was commissioned as part of Farm 24 back in 2017 and shows the dedication of goat farmers, Nicola and Matt. Without their commitment to raising a happy goat herd, Butlers wouldn’t have such a delicious goats cheese product. They deserve a gigantic pat on the back for the brilliant work they do and Butlers wanted to tell their story. So here it is, a day in the life of Nicola and Matt.

Succession planning is always on the family business agenda. However, it can be one of the hardest conversations to have because it involves people letting go and handing over responsibilities. As one of life’s inevitabilities, succession planning is always on the family business agenda. However, it can be one of the hardest conversations to have because it involves people letting go and handing over responsibilities. One of the most important things to remember is that ownership and management succession must be treated differently. Ownership succession is all about owning shares in the family firm whereas management succession raises questions about who should take over the helm. In this article, Natalie Wright, Head of Family Business at Mazars looks at the challenges around management succession and the family business and how to ensure the process is as smooth as possible. It’s important to exercise care right from the outset to select the management team that are fit for the future and not just today. Successful family firms are those that embrace change and innovate to remain relevant to their stakeholders. As a general rule, the sooner the process begins the better. Initially, the decision needs to be made whether the next generation of management should be a member of the family. If not what would be the impact on the underlying values and positioning of the family. A broad timetable also needs to be put in place, taking into account a period of transition. Ideally there will be a date to work towards that clearly states the change in leadership to all stakeholders. Each family is different, but whilst transition is a process and not always an easy one, it can, however, be broken down into a number of key steps. 1.Agree a timetable 2.Identify the skills required 3.Select the candidates 4.Provide necessary training and education 5.Select a successor 6.Engage with staff/management 7.Define performance indicators 8.Set clear governance guidelines 9.Monitor progress 10.Start again Once the timetable has been set and the business has identified the key skills required and any training needs, then the selection of candidates can begin. If you want to be keep management within the family, current leaders need to identify candidates from the next generation. This means choosing from their own children and potentially nieces and nephews, so the emotional dynamic of this selection process shouldn’t be under-estimated. In this case, independent input can be a great help. However, if non-family candidates are the preferred option then clear roles, responsibilities and incentive schemes need to be decided and put on the table to attract the right people for the roles. An advantage of having family members succeed management is that they most likely been involved in the business for a long time. In many cases though, family firms encourage their next generation to work elsewhere before returning to roles in the family firm, but problems can arise if they decide not to come back as they see their future outside the family business. Often open and honest conversations aren’t held until the succession process is formally put on the table, which can be too late. Inevitably, change at the top can lead to a period of uncertainty both internally with staff and management and externally with business partners. After the transition it is a good idea to put in place PR and relationship plans to smooth over any issues and to introduce the new leader to key customers, suppliers and contacts. It’s also important to make sure a clear set of rules for operation and interaction between the board and the family have been set. Family relationships are not always in sync with the needs of the business and these areas need to be managed appropriately. Planning helps, as does conversation, and it is always useful to get an external perspective too because many other family firms have been through similar processes and can provide a valuable source of ideas, examples and insights to ensure a successful transition. Once the transition has been implemented, regular reviews are needed and essentially the process starts all over again! Management succession is a key area for family firms to plan for and address. With people living longer, the gap between generations is increasing and the needs of businesses today are changing rapidly. With situations where the next generation is not mature enough to take on the challenges of the business there may be need to look outside the family for leaders and planning for different scenarios can help the business to plan for the future and address different scenarios too.

Morten Bennedsen, INSEAD Professor of Economics and Political Science shares some lessons from the UK’s oldest privately owned bank, which has been in the same family for more than 300 years. In family businesses, family assets are the unique and often intangible contributions that only families can bring to their firms and are essential to their identities. Long-lived family firms always need to identify and develop those unique family assets that have been sustained and enhanced by each generation of the family. These assets can take many different forms, such as the name of the firm, its reputation, the history of the family and the business, the mission and its unique business philosophy, the values that drive the family in their business dealings, and the rich network of business and political ties developed over multiple generations. A key feature of family firms – and a requirement for their sustainability – is that their contributions are linked to strategy-making. If assets are not present at the operational level, they cannot be efficiently leveraged to create a clear vision for the future. In addition, the unique assets that families deliver can enhance the identity and brand awareness of their firms in the eyes of next generation family members who may be interested in joining the family firm. Non-family employees are also motivated by the spirt of working for a firm that has a strong sense of identity and traditions. However, as these firms develop and grow over time, family assets can be lost on the growing number of family members and stakeholders, especially if no long-term planning of this special type of asset management has been initiated by the founders or developed by second- or third-generation owner-managers. More than anything, owner-managers should engage in a continuous process of re-defining their family assets in order to profitably include them at the level of firm strategy and vision. To develop long-term planning, owner-managers can focus on three key variables: Identify the critical family assets and how these can be exploited in the current business environment. Understand the extent to which family assets are transferable to the next generation, to outside managers or to new owners. Organise the leadership and management of the firm in such a way that family assets add value to the business strategy. A Rock-Solid Legacy One firm that exemplifies how these variables can work in practice is C. Hoare & Co, the oldest private bank in the United Kingdom (founded in 1672). From the day Sir Richard Hoare opened the unlimited-liability bank, depositors were attracted by the bank’s stability in a climate of uncertainty. Hundreds of similarly family-owned banks managed to survive until the turn of the 20th century, when larger limited-liability banks absorbed most of the smaller, unlimited-liability banks. Currently, eleventh generation Alexander S. Hoare is one of the bank’s eight partners. Alexander said the ambition of the Hoare family has always been to carry on doing what it does best, which is to act like ordinary employees in all areas of the bank, including credit, finance and investment. Hence, Alexander said the family have never had any desire to entertain buyout offers from more powerful companies. Family Members Are Staff Members At any given point in time, about 12 family members ranging in age from 20 to 80 are employed by the bank, but only a few of them are promoted to the level of the boardroom. At different times family members may act as employees, directors and owners. Usually, however, family members are ordinary members of staff. As the bank has provided services to many of its customers’ families for centuries, the family has never felt the need to advertise for more clients. Nevertheless the bank’s customer base has broadened over time, ranging from owners of landed estates to entrepreneurs and professional individuals, partnerships, owner-managed businesses, family offices and charities. With such a wide variety of customers, C. Hoare & Co. has developed a range of services that has evolved to keep up with changing needs: loans, foreign exchange and treasury services, wealth management, financial planning, investments, tax services and trust administration. Recently, the Hoare family moved towards professionalising the bank’s senior leadership. The current CEO is David Green, a non-family professional, who joined the firm in 2003. The current chairman of C. Hoare & Co is also a non-family professional, Sir Nicholas Macpherson. However, shares in the bank are all owned by the eight partners of the firm who are family members. With approximately 2,000 Hoare cousins in the extended family, the bank does not distribute dividends to all of them. Dividends are only distributed to the eight partners, and the dividend has not changed since 1928. As an unlimited-liability company, each of the eight partners carries unlimited liability for the bank’s business activities. “This influences our behaviour,” said Alexander. “It forces the eight partners to manage and mitigate any risks the bank could have.” By staying focused, families can optimise and enlarge the long-term value of their assets. Moreover, family control is most valuable when the family assets are strong. This article was first published on the INSEAD website and has been reproduced with their permission.

Founding and growing a business is one thing, but passing the baton is just as important. In private and family enterprises, it’s essential to think of the future first. Many small-to-medium enterprises and family businesses share a common risk – a lack of succession planning. It is easy for founders or chief executive officers to get so focused on day-to-day operations that they fail to consider future leadership. KPMG Partner Dominic Pelligana is adamant that a succession plan is vital for a sustainable business model. “Succession planning is about developing a pool of capable leaders - get people wrong and you put the business’s ability to perform at risk,” he said. In its simplest form, strategic planning involves setting a clear plan and then aligning an organisation to execute that plan. That is, it requires a plan and capability. It is also important to understand and align where the owners, the board and management believe the organisation is in its lifecycle, and the leadership style required. Only then can it have a meaningful conversation in relation to strategic planning and developing and/or acquiring the capabilities (succession planning) required to execute the plan at the board and/or management levels. What Good Strategy Looks Like Pelligana described succession as the orderly transfer of management (the CEO), control (the board) and equity (ownership) to the next generation. For company founders who have a business in their bones, he recognised that it can “take a bit of humility to step aside and let another CEO take over the business.” However, getting succession on track can actually help a founder grow their business without fear of losing control and suffering burn out. He said signs that a business is off track to succession include a lack of awareness of issues and challenges, a lack of goal alignment and trust, and inability to separate from a focus on operations to future management. In family business, another poor sign is blurring the best interests of the business with interests of the owners or family. Signs that a business is on track include awareness of the issues and challenges, having inside and outside perspectives, and strong alignment on the key issues and context. Clear plans for the transfer of management, control and ownership are essential, along with the trust and commitment to follow the plan. The key is to build a leadership team that complements the founder’s entrepreneurial strengths, along with professional management capabilities, Pelligana said. Boards need to be active in this process, helping to align activities to the future vision. An Inside Perspective Succession in family business can be unique due to the competing expectations of the founders and subsequent generations. “People say it’s the third generation [that lets a family business down], but I think the first generation hangs on too long,” he said. Pelligana said the first generation of family business is generally “all about survival,” the second is usually about establishing professional management systems, and the third is often about financial strategy. “How do we allocate capital - are we all in?” he said. Pellagina spoke to Claire Mackay and Tim Mackay, siblings who are Principals of Sydney-based family business, Qantum Financial. Their father, Bill Mackay, set it up in 1994 and is now the Chairman. Fortunately for succession purposes, Claire and Tim shared their father’s passion for financial management, but Bill did not immediately grant them a place in the company. “He [Bill] wouldn’t let us in the business until we had worked elsewhere – he wanted us to make our mistakes elsewhere,” said Tim Mackay. They said succession has been a key focus for the family and they have “everything in writing” in regard to future ownership. However, they regularly revisit the plan to ensure their goals remain aligned. The siblings commented that they didn’t want a succession plan that “relied on an 11 year old to run the company,” recognising that the third generation may not be inclined to take on the business. “It is about embracing the legacy – but taking it forward,” they agreed. About the Author - Dominic Pelligana is a Partner with KPMG Australia and a member of thefamily business team. This article was first published on their website and eproduced with their permission.

Did you know that less than 3% of family-owned businesses make it to the fourth generation? As a fourth-generation, family-owned business, Warwick Publishing are proud to say they’re part of that 3%. But now they’ve actually made it to the fifth as one of their newest employees, and the fifth generation in the Warwick family business is Alex Paschal. But first, the family history. Before we fully introduce you to Alex, first we’d like to give you a brief run-down on the family lineage. First up is Lina Paschal. Lina purchased the company, which was a newspaper publisher (The Valley Chronicle), from her brother-in law, Albert Hall, in 1903. In 1926, Lina stepped down and her nephew, Paul Paschal, took over. It was under Paul’s leadership that the company started producing calendars with logos as a means of using the presses when not printing papers. It was also during this time, in 1926, when they officially became Warwick Publishing Company. At the end of WWII, Don and John Paschal took the reins of the company. Between 1977 and 1999, Rob and Jim Paschal (Don’s sons) purchased the company. The original newspaper operation was sold in 1989, at which time the business focused fully on promotional products. Which brings us nicely to the next generation, the fifth generation, Alex. And trust us when we say Alex worked hard to get to where he is with the family business. Not just handed to him: what it took for Alex to prove his worth. Alex graduated from the University of Dayton (Dayton, OH) with a bachelor’s degree in Chemical Engineering and a minor in Business Administration. He then continued on at Dayton to receive his master’s degree in Business Administration shortly thereafter. During graduate school, Alex was part of a teaching team in the chemical engineering department. His major role was to help out with the senior capstone lab courses, with a specific focus on safety, proper experimental techniques, and analytical methods. As a minor role, Alex also helped students grapple technical skills in coding courses and financial skills in the senior capstone. Though this experience was not directly related to managing a business, Alex believes his experience gained from teaching safety education directly translates to maintaining safe working conditions in our plant and office. His graduate capstone was an integrated project with a local Dayton-area business, in which he and his peers spent a semester acting as a consulting group that developed an action plan for the owner as the final deliverable. Of the project, Alex says, “It was both an incredible and intense experience that taught me how to strategically plan businesses for the future without it being distilled by a classroom setting.” Professional development and learning the ropes. Though Alex officially joined the team full-time in January of 2020, that wasn’t the first time he’d worked in the family business. Throughout college, he had been working part-time, learning the ropes in as many departments as he could, including HR, die-cutting and foil stamping, as well as operating the digital presses. Throughout college, Alex attended various leadership seminars through the National Society of Leadership and Success, as well as a University of Dayton Entrepreneurial Summit called “Flyer Formation.” Between January and June of 2020, he started and finished the PPAI online education, resulting in earning an MAS (Master Advertising Specialist) certification. As Alex himself recognises, “Warwick has always been a constant in my life. Whether I was working part-time during summers or just stopping by to visit, there really hasn’t been much of a time where I haven’t been involved with the company. Being the only fifth generation member is certainly daunting, but I’m excited to finally get involved in my family’s business on a more permanent basis, especially during this crazy time we’re living through.” And, of course, we can’t leave you without a word from co-owner—and Alex’s father— fourth generation family member Rob Paschal. “Alex has a lot on his plate right now—especially given the current global environment,” says Rob, “but he has the drive, the initiative, and the passion to help us continue to grow this company.” Find out more on their website here