Queensland Gaskets has been a central part of the Quarterman family’s life for many generations. So it came as no surprise when Carl Quarterman, having spent his childhood working in the business during school and university holidays, expressed an interest in taking over.

For Guy, this was a perfect opportunity to pass on a business he had been running since taking over from his father in 1968 and to secure a long-term family legacy. However, with four other children, Guy was keen to see a fair and transparent process and also to achieve an outcome that set him up for retirement.

Guy approached his accountant of 30 years, Grant Field, who had been informally discussing Guy’s succession plans over many years, to help him facilitate his exit.

“Grant had vast experience in facilitating business succession and he was able to advise us on key steps we should take to identify any concerns and ensure family harmony throughout the process,” Guy said.