What does it take to execute not one, but two successful transitions in a family business? In this episode of Table Talk, Matt Knight speaks with Jason and Ryan Collins, brothers and second-generation leaders of Collins Steel.
After joining the company and working alongside their father, Jason and Ryan led the business through its first major transition: succession from their parents, who started the business in the early 1980s. That transition was structured with terms that balanced the value of the company and the fairness of potential inheritances for their siblings not involved in the business. Jason and Ryan took over in 2012 with a clear exit strategy in mind, aiming to sell the business within 10 years.
Over the next decade, they transformed Collins Steel from a successful fabrication shop into a $52 million industry leader in Western Canada, maintaining a focus on Lean manufacturing and supported by a loyal team, peer groups, and an external board of advisors. In 2017, they executed their second transition by selling to their management team. This move was again guided by the same core value of fairness that had defined their earlier succession.
The brothers’ approach demonstrates that family business succession doesn’t require choosing between family harmony and business continuity when structured thoughtfully. This episode offers practical insights for family business leaders navigating the balance between family dynamics and strategic planning. Their story also highlights the importance of peer learning communities in helping leaders stay grounded and gain perspective.
This video podcast series is proudly produced by the team at Road 55 - located in Edmonton, Alberta. For more information, please visit:
www.road55.ca What is Table Talk with ABFI?
Table Talk with ABFI
Host: Matt Knight, Executive Director of Alberta Business Family Institute
Dive into the world of family businesses with "Table Talk with ABFI." Hosted by Matt Knight, this unscripted podcast spotlights Alberta's entrepreneurial families and we'll talk about many aspects including:
-Origins & Evolution: Discover the foundation of family enterprises and their transformative journeys.
-Personal Triumphs: Hear heartfelt stories of individual ambition and resilience.
-Family Dynamics: Navigate the intricate interplay of relationships, transitions, and generational handovers.
-Growth & Motivation: Uncover breakthrough moments and strategies propelling these businesses forward.
Join the conversation and be inspired by tales of tenacity, innovation, and family legacy.