A closely held successful private company had two equal majority owners and one minority owner (45, 45 &10).   Unfortunately, the majority owners could not agree on what direction their Company should take.  One of the majority owners wanted the Company to continue reinvesting profits to grow the business, while the other equal shareholder wanted the business to support his lavish lifestyle.  To assist the owners in finding a reasonable solution, management engaged the services of Mr. Leonard.

After Leonard completed his due diligence, he recommended to management they go public.  Leonard explained by going public the Company would create liquidity for each of the three shareholders and at the same time enable the company to continue on its successful growth path.  At managements direction, Leonard interviewed several large Investment Banking Firms, selected one and the Company went forward with a successful public offering.  Management continued to successfully operate and grow the Company and approximately 5 years following their public offering the company was sold to a well know NYSE listed Company.