The family business was sold in order to create more growth and opportunities for the company. The sale resulted in significant free cash. Being involved in their own business, the family members did not want to be involved in managing the assets on a daily basis.
‘We were looking for a partner who related to us, to our family and our philosophy. When you discuss your private wealth you got to have the feeling to be on the same wave length. We considered establishing our own family office, but there were too many reasons not to pursue this. The most important asepct was the difficulty in securing a professional environment with only one or two people in the office.’
‘Firstly we focused on asset management. Together with Providence Capital we decided on the allocation of our total assets. Subsequently we organized the family office aspects. The entire administration, building in all the safeguards. Now we not only have professionalism, but also integrity, commitment and short lines. The best of both worlds. We work closely together, to ensure the people involved are always up to date. As a family we like to stay involved, but in case we are not available for let’s say 6 months, business is wunderfully taken care of.’