The Acquisition of Foreman-Sheean by Fuuzio Group

Transitioning from a family-owned to leadership-focused business, Foreman-Sheean now operates in a new and exciting space

Acquiring Foreman-Sheean in 2019, Fuuzio Group’s leadership and career development opportunities have empowered the team to make autonomous decisions, differentiate their service and grow the business.

Working within the commercial and industrial sector, Foreman-Sheean is a leading electrical and communications service provider in the Sunraysia region in Victoria. It was founded in the 1980s by Tim & Dianne Sheean and Graeme & Ann Foreman, who, taking a hands-on approach, worked as both directors and managers within the business for over three decades to ensure it’s ongoing growth and success.

Approaching retirement in 2017, Tim & Ann decided to sell the business. This was a big decision, one that wasn’t taken lightly by the owners. They were determined to find a buyer who would not only continue to serve the Sunraysia region but would also ensure that their staff and customers were well taken care of.

After comprehensive discussions with potential buyers, Tim & Ann decided to sell their business to Fuuzio Group in 2018, knowing that their legacy would be continued and the business would progress and thrive.

Managing change during the business ownership transition

Moving from a family-owned business to becoming part of a larger group was a big change for the staff at Foreman-Sheean. Naturally, many were uncertain about how the acquisition would affect them and what the future would hold.

Understanding these concerns, Fuuzio Group carefully planned the transition of business ownership. Fuuzio’s director, Aidan Mountford met with staff, reassured them that their jobs were safe, that all existing arrangements wouldn’t change, and outlined all of this in new letters of offer. This gave staff the security, stability and confidence they needed during this period.

More than a business acquisition, Fuuzio Group invests in the Foreman-Sheean team

Once a team who were led solely by the two business owners, under the Fuuzio Group umbrella, Foreman-Sheean’s employees now take full ownership of their newly available roles.

Empowering each staff member through training and mentoring, today Foreman-Sheean is steered by a competent leadership team, who have a deep understanding of the business and the strategies they need to implement to ensure its ongoing success.

Creating a disciplined structure and taking a multi-tiered approach, responsibility throughout the business is now delegated, ensuring that the right person is managing the right tasks. A key element in enabling the business to scale, this delegation mindset has also provided each staff member with the opportunity for professional development.

“Understanding how and when to delegate means we can now scale our business to enable and support growth. Optimising our teams, we drill right down to understanding what each team member excels at and what they enjoy most. We can then match their skills and strengths to meet our business goals. Why is this important? It means our people want to come to work, are productive, recognised and play a valuable role in our sustained success.” Scott Wilkinson, General Manager, Foreman-Sheean