Mainebiz

W W W. M A I N E B I Z . B I Z 15 M AY 5 , 2 0 2 5 F O C U S B U S I N E S S S U C C E S S I O N A N D T R A N S I T I O N "For the most part all of us are full- time," says Sam. "But we're passing off some of the responsibilities to allow for more flexibility for myself and Gregg. Adam is taking on more purchasing of the lumber and managing our Presque Isle store, and Clara is doing more of the back office and financials." Neither Sam nor Gregg have set a date for their retirement, but Sam expects to step down "within the next few years." ey're both in their 60s and Sam has been at the job for 44 years and Gregg for 35 years. e McAdams have already sorted roles too. Polly is working with Ellen to take over the financials and manages the website, social media, events, and farm- stand employees. Jack still handles the 'back end' of the website and SEO but Polly envisions taking that over too. Matt has a degree and experience in horticulture and oversees the orchard, equipment and maintenance, and the field crews. He's just hired a supervisor to share some of his responsibilities, for January through October. is is a first for the farm, a sign of growth. During the season they generally have 12 to 15 employees, mostly retirees and college students in the summer. e farm has a lot of returning staff every year and doesn't struggle to hire. Structuring the transition e McAdam family meets every Friday morning to discuss immediate needs and to fine-tune their business plan going forward. ey've agreed on a mission statement: "To provide a secure environment for farming the land, through prudent investment strategies and successful farm business practices, and to foster appreciation for local agri- culture through community outreach and on-farm educational opportunities." ey've taken advantage of suc- cession guidance through workshops at the Institute for Family-Owned Business, and from programs tailored to farm transitions at the York County Cooperative Extension and the Land for Good program, based in Keene, N.H. e Collins' team has also attended some Institute for Family-Owned Business workshops but is largely work- ing through the succession indepen- dently. "We're planning an ownership retreat in the next couple of weeks and will proceed with those kinds of meet- ings," Sam says. "It's a discovery process for all of us. We want to understand which roles are the best fit." Clara says, "It's important to make a plan and stick to it, and then let the next generation make their own mistakes, and their own decisions." Communication with employees during the process is vital to a smooth transition. S.W. Collins has close to 100 "pioneers" as Sam prefers to call staffers. Clara notes. "It's really Secure Your Legacy with Unmatched ESOP Succession Planning. At ARB, our tailored ESOP services create pathways to employee ownership. We partner with businesses that share our commitment to quality and long- term vision. If you value a strategic approach to transition planning, we invite you to discover how ARB can help secure your legacy. 130 Middle Street Portland, ME 04101 arbcpa.com C O N T I N U E D O N F O L L OW I N G PA G E » Sam Collins, Clara Collins, Adam Collins, and Gregg Collins are working together to transition leadership at S.W. Collins Co. to the sixth-generation. S.W. Collins Co. Aroostook County / swcollins.com Founded: 1844 What it does: A lumberyard and building supplies retailer. The company has stores in Caribou, Presque Isle, Fort Kent, Houlton and Lincoln, offers kitchen and bath design and operates a specialty millwork shop on the Loring Commerce Center campus in Limestone. P H O T O / C O U R T E S Y S. W. C O L L I N S C O.

• Cover