A different kind of buyer: How Ron King found the right successor for East West Engineering

When Jason Andrew walked into the boiler room of East West Engineering to meet its founder, Ron King, he knew what he was up against.

King had spent four decades turning a small metalworking outfit into a leading name in materials handling. Now, he was looking to move on. But he wasn’t interested in a slick sales pitch or a folder full of forecasts. He just wanted to hand the reins to someone who wouldn’t stuff things up.

“Founders literally say: ‘Don’t f*** this up.’ And I get it,” Andrew says. 

“The responsibility is huge — you’re taking over someone’s life’s work.”

For Andrew and Arbor Permanent Owners, this wasn’t any old deal. It was the first step in a broader mission to help solve the succession challenge for hard-working Australian SMEs. 

But first, he had to get King on board.

If you’ve built something you care about and want to leave it in good hands, let’s talk.

Anti-suits, anti-private equity

Andrew and co-founder Simon Plummer aren’t private equity guys. They don’t wear suits. They don’t show up with a 90-day turnaround plan. And they don’t see a business as something to flip for a quick return.

In fact, for the first 90 days post-acquisition, Arbor’s plan is simple: don’t do anything.

“For the first 90 days, all we’re doing is learning about the business,” Andrew explains. 

“We don’t change anything. We don’t go and implement this crazy strategy. We’re not here to employ new people. We’re just listening and learning.”

This approach, which prioritises stability and respect, sits in stark contrast to the “sprint mentality” common in private equity circles, where firms often arrive with a checklist of changes.

“Some private equity groups have short-term horizons, so they rush in with preconceived ideas on how to ‘fix’ the business — often disrupting the culture in the process,” Andrew says. 

“And they don’t know if that’s the right way to go about it. How could they? No matter how much due diligence and research you do, you don’t actually know anything until you’re out there on the floor, talking to people, learning how things are done.”

No one gets you like a fellow founder

What ultimately convinced King to go with Arbor? Andrew suspects it was the fact  he was talking to people who’d built businesses themselves.

“There’s a kind of mutual respect between founders, because we know what it feels like to start something from scratch,” Andrew says. 

“That shared experience builds trust fast.”

And trust was non-negotiable for King.

“If you’ve spent 40 years building something, you don’t just walk away from it,” Andrew says. 

“The people we’re buying from care deeply about what happens next — that’s why their first question is always: ‘What are you going to do with the staff?’

“And, like we told Ron, when we’re looking to buy a business, we want to work with the staff and help them grow with us, because they are part of the value.”

For this reason, Arbor invests a lot of time and effort into supporting employees through the handover.

“New managers and new ideas can be daunting for a lot of folks,” Andrew admits. 

“So it’s about giving them the time, space and confidence to embrace those ideas. And because we have a long horizon, we can take our time and be patient with the things we want to change.”

Respect for the past, with an eye on the future

For Arbor, East West is more than a company. It’s a blueprint.

“There are so many great Australian businesses like East West — solid, stable, overlooked,” Andrew says. 

“Their founders are looking to retire, but don’t want to sell to someone who’ll gut the culture or disappear in three years.”

Andrew’s goal isn’t to rewrite the story — it’s to turn the next page.

“It’s about striking that delicate balance between honouring the past while giving it a slight nudge in a new direction,” he says.

As King himself puts it: “After 40 years of building East West Engineering, finding the right new owners for the business was my top priority. Arbor Permanent Owners made the transition seamless, respecting our legacy while bringing fresh energy for the future.”

He adds their approach was “straightforward, honest, and deeply committed to supporting Australian small businesses,” and says he has “no doubt they’ll be great long-term stewards of East West Engineering”.

As for other founders facing the same question of how to let go without losing everything, Andrew has a few words of advice.

“It’s an emotional decision, not just financial,” he says. 

“If you’ve built something you care about, find someone who respects that. Someone who will honour your legacy and look after your people, while turning a great business into an even greater one.”

In other words, someone who won’t f*** it up.