Advisors in manufacturing ownership succession
Re/Cast (formerly known as Ownership Conversion Project) is a partnership between Manufacturing Renaissance, Safer Foundation, Chicago Federation of Labor, Local Initiatives Support Corporation (LISC) Chicago, World Business Chicago, Cook County Bureau of Economic Development and the IL State Treasurer. The purpose of the Project is to help retain Chicago’s industrial base by arranging the acquisition of manufacturing companies through ownership succession by groups of employees and High Road entrepreneurs, particularly African-American and Hispanic men and women.
The partnership is uniquely positioned to identify target firms and facilitate successful transitions; each core partner provides a specific network and skill-set that is unmatched in the private marketplace.
This project presents a unique opportunity for innovation in the field of economic and community development. What we see as a crisis in ownership succession in the manufacturing sector creates an opportunity that combines community and entrepreneurial interests and leads to a broader, more diverse, and more stable pool of owners in manufacturing.
As of June 2019, the business plan was completed in consultation with Darrin Shillair, Eagle Tower Capitals and the partners are in the final stages of selecting a Managing Director.
To read the full description follow the link Ownership Conversion