Issue link: https://nebusinessmedia.uberflip.com/i/1534928
V O L . X X X I N O. I X M AY 5 , 2 0 2 5 10 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 F O C U S B usiness transitions range from generational succession to local investors to buyers look- ing to change careers. A theme? How to maintain legacy brands while revamping with new ideas and growth potential. For sellers, it generally means determining the busi- ness's worth in order to set a sale price. e sales of two notable Maine furniture firms illustrate the opportunities and challenges. Presidential libraries In January, os. Moser, a high-end maker of hand-crafted furniture in Auburn, sold to Portland holding company Chenmark, an employee and family-owned firm that acquires and operates small businesses. In 1972, omas Moser was a professor who quit to make furniture, becoming a national brand sought by the likes of presidential libraries, corpora- tions, law firms and dignitaries. e furniture is sold direct to consumers and through retail channels from stores in Freeport, Boston, San Francisco and Washington, D.C. e process evolved to include technology such as CNC machines but always retained its handcrafted and handfinished roots, using materials like American black cherry and techniques such as dovetail joinery. About a year ago, the Moser family and Chenmark connected as part of the latter's interest in working with companies looking to transition ownership. There's no secret recipe beyond a commitment to understanding and learning and working with the team. — Philip Hussey Thos. Moser/Chenmark Philip Hussey, right, CEO of Auburn- based Thos. Moser, with woodworker Mike Bomser, who is building an Eastward Arm Chair. P H O T O / T I M G R E E N WAY transitions BUSINESS When buying companies, new owners seek to honor legacies while eyeing the future B y L a u r i e S c h r e i b e r