Aside from providing regular compliance work such as financial statements, tax returns and Xero support, Bridge has worked closely with Rosvall Sawmill on strategic planning to help them respond effectively to the many market forces they’re subject to. Log supply issues, legislation changes, international economic factors, exchange rates, market demand, large capital investments which required funding – all have impacted the company at one time or another.
Bridge’s sit-down sessions with the company’s directors have helped Rosvall Sawmill to effectively plan the future direction of the business. We’ve helped them put plans in place to deal with change and navigate the challenges of the business environment at the time, as well as identify new opportunities to grow and develop the business.
Working with Rosvall Sawmill to set out a strategic plan meant the company had a solid direction, with specific action points to achieve their goals. This included planning for finance required for capital expenditure projects, an action plan to change markets, and a succession plan.
In terms of succession planning, Rosvall Sawmill has also benefited greatly from Bridge’s advice. Originally under the ownership of two families, Bridge helped the company successfully navigate the exit of one party, carefully handling negotiations to ensure fairness to both the retiring and remaining owners.
This process involved a series of meetings to establish what each of the parties required, and rigorous investigations to establish an accurate value for the business. We worked closely with both parties to set out a clear plan, which allowed the retiring party to exit and extract capital out of the business, while the remaining party was able to continue with the business and move it forward.