Case Study: Bartelt Insulation
"We couldn't have done it without your help. This is the way we wanted it to go."
- Jim Bartelt, Former Owner of Bartelt Insulation
Bartelt Insulation is a full-service mechanical insulation contractor serving commercial, industrial, and refrigeration projects. Their team brings experience across a range of industries, including pulp and paper, plastics, food processing, refrigerated dairy operations, and more.
We met Jim Bartelt as he was beginning to think more seriously about the future of Bartelt Insulation. With Mike and Matt showing interest in carrying on the family business, the focus became creating a thoughtful transition plan that would prepare the next generation to lead and give Jim a clear path toward retirement.
Before Working with Journey
Jim was beginning to think seriously about retirement, but there was no defined succession roadmap
Mike and Matt were in their 20s and still developing the experience and confidence needed to lead the business
Much of Bartelt Insulation’s operational knowledge and processes still lived with Jim
The family needed a transition that prepared Mike and Matt to lead while supporting Jim and his wife’s retirement
How We Achieved Results
Built a clear succession roadmap and kept the transition moving through regular meetings
Developed the next generation as leaders and helped clarify their individual strengths
Documented key processes and transferred critical knowledge
Gradually shifted day-to-day responsibility to the next generation
Used strategic planning and performance metrics to strengthen the business and grow value
Structured a tax-efficient, 15-year internal buyout that supported both the family and the business
Value Journey Results - Bartelt Insulation
200% Increase in Business Value
Jim Stepped Back 90% by Year 5
Mike & Matt Prepared to Lead as Fourth-Generation Owners
15-Year Internal Buyout Structured to Support the Family and Business
Over seven years, Mike and Matt gradually took over day-to-day leadership with Jim available for support.
By the final year, they were running the business independently and ready for ownership.
Business cash flow supported Jim and his wife’s retirement without an outside buyer.
The tax-efficient, owner-financed buyout protected continuity and the family legacy.
In FY2025, Mike and Matt officially became fourth-generation owners.
Through years of intentional planning, Jim was able to step away with confidence, while Mike and Matt stepped forward prepared to lead, grow the business, and carry the Bartelt family legacy into its fourth generation.
THE BARTELT FAMILY
Partnering with Journey Consulting
“I think the most valuable part was our monthly meetings. I mean, even going back when we first met, there were several meetings that took place just for Journey to get to know our business, where we're at.
That was really important. It was kind of a daunting task, but it was very important to have those meetings and then that gave Journey the road map for us and where we need to go and what we need to work on.”
After seven years of planning, Jim Bartelt transitioned Bartelt Insulation to his sons, Mike and Matt. Hear how intentional succession planning helped prepare the next generation, grow the value of the business, and give Jim the confidence to step into retirement.
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