A Fourth-Generation Cincinnati Manufacturer Plans Its Handoff
Hartmann Tool & Die, a fourth-generation Cincinnati manufacturer, is working through one of the hardest transitions any family firm faces: handing the business to the next generation without fracturing either the company or the family. Its longtime leader is stepping back after decades at the helm.
Succession undoes more family businesses than markets ever do. Roles blur, expectations collide, and the founder's instincts do not always transfer. The Hartmanns have brought in outside advisers to formalize a process that too often happens by accident.
The company plans a gradual handoff, with the incoming generation taking on operational authority in stages. Leadership says the goal is continuity for the workers and customers who have relied on the firm for generations.
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