A Seamless Transition at Euro Scaffolds

In the world of business, a change in ownership can be challenging but incredibly rewarding.  Jason De Montalk and Brent Simpson’s journey to becoming co-owners of Euro Scaffolds offers a great example of how a business can successfully evolve through change.  Through their combined efforts and shared vision, Euro Scaffolds successfully navigated the transition, fostered a thriving team culture and sought external coaching support to grow the business and achieve their goals.

The Transition: Building a Strong Partnership

Four years ago, Brent Simpson was presented with the opportunity to buy into the Euro Scaffolds business. He had always had an interest in business ownership, had been a part of the Euro Scaffolds team some years prior and also had a friendship with one of the owners, Jason De Montalk.  While there was no formal succession plan in place, the transition was a natural evolution.  One owner was ready to move on and the other, Jason, was keen to bring in a new business partner to help grow the business.  Over the course of a year, the business purchase took shape.  

Although it seemed straightforward at first, the purchase process involved some complex elements.  Key challenges during the process included developing an understanding of shareholder agreements, managing cash flow during the share transfer and reassuring clients and staff that operations were still business as usual. For Jason, it was a busy time running the operations of the business while also helping Brent transition into his new role as an owner.

Both Brent and Jason were committed to maintaining the integrity of their friendship, while also developing a strong, aligned business partnership.  Jason says “We make sure to communicate any frustrations or ideas at all times.  The key to our partnership is having the same goals for the business and working with integrity”.

While Brent had experience in the scaffolding industry, understanding the team, behind-the-scenes operations and how to effectively manage the business were all part of the learning curve; while Jason had to be open to new ideas and accept being challenged on elements of existing business practices.  When the purchase was complete, Brent and Jason worked together to tidy up processes, ensure that they were well resourced and review pricing.

During the change of ownership, Rick Keehan, Amplify's Business Growth Advisor at the time, provided business support by acting as a sounding board during key decisions and offering advice from his own business experience.  Rick was also able to share insights about the local economy and the business environment at the time, which helped Brent and Jason to make informed decisions.

Brent and Jason have some valuable advice to others contemplating a business partnership: “Make sure you and your potential business partners have honest, courageous conversations to ensure you have a shared vision and goals for the future of the business and that your business ethics align”.  While on the practical side, ensure you do your due diligence and get an independent accountant or financial advisor involved early in the process to ensure the right financial outcomes.

Business Coaching: A Tool for Growth

One of the team’s most recent and impactful decisions has been engaging a business coach to help them focus on achieving their goals.  For the past year, Brent and Jason have worked closely with their coach to refine their strategy, improve operations and drive innovation.

“It can be hard to work on the business while working in the business” says Brent. Their business coach offers an external perspective and can spot areas for improvement that might otherwise go unnoticed by the directors.  Their business coach has given them mentorship and one-on-one guidance and is someone who holds the directors to account and supports them in working towards their objectives.  

While it can be tough to justify the cost of a business coach, especially when the benefits aren’t immediately noticeable, Brent and Jason believe the long-term gains are well worth the investment. Brent says, “It’s about having people around you who have been there, done that.”  Over the last year, Brent and Jason have built up their management team and implemented new software, allowing them to step back a little and focus on new ideas for the future.  Their business coach has helped them to define roles and responsibilities, creating efficiencies across the business. 

Employee Retention and Culture: Building a Strong Team:

Euro Scaffolds is proud of its experienced team, with several employees having been part of the company for over 10 years.  The key to retaining talent is a strong team culture and the investment they make in training and development, along with a positive environment.

The directors encourage and support their team in pursuing apprenticeships and continuing to upskill through intermediate and advanced qualifications.  While there is no formal policy for this, there is an understanding that the business is investing in people who will grow with them.

A large part of Euro Scaffolds' business is repeat work in the industrial sector, so staff retention directly impacts efficiency and productivity by retaining the knowledge of previous jobs.

Brent and Jason say their key retention practices include: regular team breakfasts, a commitment to maintaining an open door environment where the team are comfortable approaching the directors with any issues or ideas and providing opportunities for their staff to learn and grow.  Going forward, team culture is a key focus, and they will continue to roll out initiatives in this space.

The Euro Scaffolds Team

Looking to the Future: Innovation, Safety and Customers

Looking ahead, Euro Scaffolds is committed to continuous improvement in what they do; balancing operational excellence with enhancements in technology, innovation and safety.    With a strong reputation and a solid base of loyal customers, their aim is to stay at the top of the scaffolding market in Taupō.

Brent and Jason's journey illustrates the value of a well-planned business transition, future-focussed thinking, the importance of fostering a positive team culture and the impact of a business coach in achieving long-term success; by focussing on these things the team is positioning itself as a leader in the industry - both in terms of innovation and customer satisfaction.

For business owners navigating or considering succession planning, staff retention strategies, or investing in a business coach or mentor, the team at Amplify can support you with guidance in these areas.