15: How Leslie Adams Scaled and Sold a Multi-Generational Scrap Metal Business
Leslie Adams, Former owner and CEO, Federal Metals Inc.
Leslie Kraatz Adams joins the show to unpack her experience leading Federal Metals, a family-owned scrap metal business founded by her grandfather in 1950. After buying the company from her parents in 2008 alongside her then-husband, Leslie faced the dual challenge of managing legacy dynamics and modernizing a margin-based business in an increasingly competitive industry.
She reflects on her transition from inheriting operations to becoming a strategic CEO, moving the company toward a volume-based model, investing in new equipment, and expanding into non-ferrous metals like copper. Leslie shares how she turned Federal Metals into Western Canada’s first copper milling facility and how building operational resilience—including a seasoned management team and safety certifications—positioned the company for a successful exit.
The conversation dives deep into the emotional and strategic aspects of selling a multi-generational business. Leslie details how she planned the exit years in advance, ran a discreet sales process without brokers, and ultimately closed a structured deal with a like-minded buyer in the scrap industry. Her story includes navigating divorce, succession complexity, and guilt around selling a family legacy—yet she emphasizes the importance of not tying identity to ownership.
Post-exit, Leslie shifted focus to her true passion: emotional resilience and lifestyle medicine. With her new company, At Work of Heart, she channels decades of leadership insight into coaching and wellness, helping others manage stress and health at the intersection of business and personal wellbeing.
Key Takeaways
Family dynamics require careful navigation during succession and sale
Building to sell starts with solid operational foundations and leadership structure
Industry shifts demand business model agility and innovation
Emotional resilience is critical for founder wellbeing and decision-making
Strong relationships and reputation can drive organic exit opportunities
Certifications and social responsibility increase buyer appeal
Timing the exit strategically is as important as structuring the deal
Post-exit identity clarity eases the transition into new ventures
Contact Information:
Website: https://aworkofheart.ca
