We own two HoldCos. The first was built in Panama starting in 2011 and the second made its first acquisition in the USA in 2021.
Our long-term goal for the US HoldCo is a public listing. We have minority shareholders, and they want liquidity. While a share repurchase plan is feasible, the plan is to direct list.
We plan on maintaining our Panama HoldCo private and as a multi-generational company. While I would love it if one or more of my kids wanted to run my business, it is not necessary for a multi-generational company. Hiring professional management (which we have) and building a Board of Directors composed of family members and qualified independents is a great way of setting up future generations for success.
This way of thinking, for the extreme long-term, is also healthy for the current operation. Rather than thinking about what makes sense this quarter or year, we base decisions on what makes sense for the next 5 or 10 years. Processes need to be created for the next management team which will eventually take over. These same processes give clarity to the current team.
No shortcuts are taken, we are not looking to flip our companies. They are ours and eventually, hopefully, will be our children’s.