Kevin Sido and Todd Young Author Article on Business Succession Planning for Engineering and Other Design Firms in STRUCTURE Magazine
Kevin R. Sido and Todd M. Young, Chicago-based partners at Hinshaw & Culbertson LLP, have co-authored an article entitled, “Ownership Transition: Passing the Torch Without Getting Burned,” which was published in the July 2012, issue of STRUCTURE Magazine. The article focuses on the issue of succession planning—both generally and as specifically applicable to design professional firms. Subtopics addressed in detail in the piece include: (1) factors that make a firm ripe for succession planning; (2) risks in succession events; (3) employment-law-related risks; (4) types of professionals to involve in succession planning; and (5) creative succession planning tactics.
Mr. Sido has practiced for more than 37 years in litigation and as transactional counsel for design/construction professionals and others. He is the editor of “Architect and Engineer Liability, Claims Against Design Professionals,” third edition, published by Aspen Publishers in 2006, has authored chapters and written articles published in design-professional-industry publications, and regularly speaks before groups of design professionals. Mr. Sido is also a member of several design professional industry organizations and received the American Institute of Architects-Illinois Council’s President's Honor Award in November 2004. He is an experienced mediator and arbitrator in construction law.
Mr. Young assists architecture and engineering firms and others with business succession planning, financing transactions, general corporate governance issues, and mergers and acquisitions. He also helps businesses with contract negotiations, loan transactions and securities law matters. Mr. Young’s financing work includes a particular focus on representing lenders in ESOP loan transactions. In those transactions he has represented lenders in both stand-alone and syndicated loan transactions with aggregate loan amounts ranging from $20 million to $150 million. Mr. Young was a co-leader of Hinshaw’s Commercial Transactions Practice from 2010 - 2012.