Case Study: Chipman Relocation and Logistics ensures a seamless family business succession with Enterprise Bank & Trust

Chipman Relocation and Logistics streamlines a 8-month ownership transition with Enterprise Bank & Trust

Chipman Relocation and Logistics, a third-generation family-owned moving and storage business, faced the challenge of ensuring a seamless leadership transition from the second to the third generation while maintaining employee and client confidence and managing operational risk. To navigate this, they partnered with their long-term banking vendor, Enterprise Bank & Trust, for strategic financial planning and support.

The solution, guided by Enterprise Bank & Trust's partnership, involved a highly communicative and transparent eight-month transition process. This included weekly conference calls between the outgoing and incoming owners and the strategic hiring of a Chief Operating Officer to fill a key operational role. As a result, the ownership transfer was completed successfully with no operational disruption, allowing the company to maintain its strong financial position and continue its growth with the bank's ongoing capital and advisory support.

Chipman Relocation and Logistics