{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Bicycle For The EO Mind","title":"How a $50M Science Ed Company Used a Perpetual Purpose Trust for Succession","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/a9e7a660\"></iframe>","width":"100%","height":180,"duration":2577,"description":"Meet David Vernier, founder of Vernier Science Education, a 43-year-old education technology company serving science teachers that transitioned to a Perpetual Purpose Trust (PPT) in January 2024. With over 100 employees and $50M in annual revenue, Vernier's transition offers valuable insights for business owners considering employee ownership alternatives.Some takeaways:How a CEO's retirement announcement after 30 years with the company became the catalyst for exploring various exit optionsWhy the Perpetual Purpose Trust model appealed to Vernier after considering ESOPs, strategic sales, and other optionsThe creative financing structure: founders donated 50% of their shares while creating seller financing for the remainderHow maintaining company culture, including daily sports activities, sustainability initiatives, and a family-like atmosphere was central to their exit planningThe dual challenges of transitioning ownership while navigating post-pandemic supply chain disruptions that affected company valuationMAILBAG | GET IN TOUCH WITH US We'd love to feature your voice in an upcoming mailbag episode! Have a question for us? Leave a voicemail at 650-203-6565, or send an email to social@zolidar.com. Remember, voicemails make for more engaging episodes—we want to hear your actual voice!ZOLIDAR LINKS:https://zolidar.comhttps://zolidar.com/podcasthttps://zolidar.com/bloghttps://zolidar.com/grid/person/allZOLIDAR FEATURES:https://zolidar.com/exit-plan-guidehttps://zolidar.com/exit-financial-planhttps://zolidar.com/dashboard?zolidai=trueZOLIDAR SOCIAL MEDIA:https://www.linkedin.com/company/zolidar/https://www.youtube.com/@zolidarhttps://x.com/zolidarhttps://www.instagram.com/zolidar_comhttps://www.facebook.com/zolidarioCHAPTERS CONNECT WITH VERNIER SCIENCE EDUCATIONVernier Science EducationREFERENCED IN THIS EPISODE:David Vernier (Founder)Natalie Reitman-White (Purpose Owned, Purpose Trust Ownership Network)Peter Koehler (Lumo Group)Organically Grown Company (Peer PPT...","thumbnail_url":"https://img.transistorcdn.com/uJqpzIPNlLKXYo1d9uhUg3Vxe9TXy51iWrNAFDOt9V0/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8wYjNm/ZjFhNmMxNmI5ZGNl/YTQwNjYzY2MzN2I4/M2E5MS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}