October 2025 - The Zaf Group

What makes family-owned companies not just survive – but outperform?

Family-owned businesses generate more than 70 % of global GDP and employ 60 % of the world’s workforce. Their impact – and their example – are extraordinary.

A recent McKinsey & Company Study Report found that family businesses combine resilience with superior long-term performance.

Across 1,800 companies analyzed, family-controlled firms achieved higher economic profit and shareholder returns than non-family peers—often by thinking in generations, not quarters. The report finds 4 critical mindsets and 5 strategic actions that are specific to high performing family-owned businesses.

1. Purpose Beyond Profits

McKinsey found that 93% of top-performing family businesses define a clear purpose beyond financial returns—and more than half actively measure their social and environmental impact.
These organizations view purpose as an operational compass, shaping decisions from hiring to community engagement.

TZG Perspective:
We believe that values create value. Our TZG Way centers on integrity, meritocracy, and devotion to excellence—principles that guide not only investment decisions but also how we support our portfolio leaders.
When purpose is embedded in culture, performance follows.

2. A Long-Term View and Reinvestment Mindset

The outperformers McKinsey studied share a “decades mindset,” favoring reinvestment over dividends. Between 2017 and 2022, family-owned firms delivered dividend yields 12% lower than peers yet achieved higher economic profit and proved far more resilient in crises.

TZG Perspective:
Patient capital is an advantage. We reinvest earnings to fuel talent growth, innovation, and efficiency rather than optimize for short-term payouts.
Through multi-year planning and close operational partnerships, we help our companies scale without sacrificing their DNA.

3. Financial Caution and Resilience

Family businesses are known for conservative balance sheets—and McKinsey’s data confirms it.
Their net debt-to-equity ratios are 6–10 points lower than peers’, providing the buffer needed to weather recessions and rebound faster. The lesson: prudence enables independence.

TZG Perspective:
As a family office, we share that discipline. Every acquisition is structured to strengthen—not strain—the balance sheet.
We prioritize flexibility and optionality in financing, ensuring our partners can invest when opportunity arises and stand resilient when markets tighten.

4. Efficiency and Decision Speed

Unlike clunky corporations slowed by layers of bureaucracy, high-performing family enterprises excel at fast, values-aligned decision-making making them more efficient at both investing and operations compared to their peers.
McKinsey found that they balance agility with deliberation – acting quickly when aligned, patiently when perspectives diverge.

TZG Perspective:
Our partnerships reflect the same model.
We invest in leadership development and culture building, empowering management teams with autonomy while maintaining clarity of purpose and accountability.

5. Strategic Actions That Differentiate Winners

McKinsey highlights five strategic actions that, combined with these mindsets, deliver outsized results:

Diversification
Dynamic resource allocation
Capital and operational efficiency
Relentless focus on talent
Strong governance

At The Zaf Group (TZG), our mission to build impactful, values-based businesses has led us to partner with exceptional family- and founder-led companies such as ACP CreativIT and Storr.
The McKinsey findings validate what has guided our “TZG Way” investment philosophy from day one—and reflect how we build enduring value:

Drive smart growth through a combination of organic expansion and strategic M&A that strengthen the core.
Pursue operational excellence, focusing relentlessly on high-impact growth levers.
Invest in people and governance, ensuring both continuity and accountability.

These are principles we live by at TZG – helping family businesses grow stronger, smarter, and more sustainable. Purpose, patience, prudence, and people are the cornerstones of lasting success.

Learn More

Explore the full McKinsey report including a link to the original Study HERE.

Visit our Portfolio to see the family-owned companies TZG partners with.

Follow The Zaf Group on LinkedIn for more insights on leadership, growth, and long-term value creation.

The Zaf Group Partners with Storr, Strengthening a Century-Old Legacy in North Carolina

Chicago, IL & Raleigh, NC — October 1, 2025 —

The Zaf Group (TZG), the family office of former GE, Motorola, Nortel, and Blackstone executive Mike Zafirovski and his wife Robin, is pleased to announce its strategic partnership with Storr Office Environments, one of the Southeast’s premier workplace solutions providers and among the largest Steelcase dealers in the United States.

Founded in 1914 and headquartered in Raleigh, NC, Storr has built more than a century of trust with clients through its long-standing partnership with Steelcase and its customer-first approach. In addition to offering high-performance office furniture and architectural products, Storr has steadily expanded its portfolio of workplace services — from strategy and design to move management, refurbishment, and ongoing facility support — while maintaining a strong culture of community engagement and charitable giving, upholding its simple guiding principle: “Do what’s right, do your best, and treat others as you would like to be treated”. These offerings are uniquely tailored to reduce complexity, extend the value of client investments, and ensure long-term satisfaction.

This partnership reflects TZG’s commitment to family- and founder-led businesses with enduring values and a long-term vision. Together, TZG and Storr will focus on continuity, stability, and investment in people — strengthening the foundation that has made Storr a trusted partner for generations, while equipping the company for its next chapter of growth.

“Storr is a remarkable company — not just for its legacy of charity in the community, but for its outstanding team, deep customer relationships, and unwavering values,” said Mike Zafirovski, Founder and Chairman of The Zaf Group.

“We are honored to partner with Tom, the Storr leadership, and the broader Storr team. Our goal is to support and enhance what already works, elevating the organization’s capabilities while preserving its strong cultural foundation.”

“Partnering with TZG allows us to preserve the authentic Storr experience while unlocking new opportunities for growth,” said Tom Vande Guchte, CEO of Storr.

“Mike and his team understand the dynamics of family-led businesses, and we’re excited to see how this collaboration will strengthen our ability to serve clients, invest in our people, continue our tradition of giving back to the community, and stay true to our heritage.”

For TZG, this marks another step in its values-based strategy to grow exceptional companies. Following its successful partnership with ACP CreativIT — a rapidly expanding U.S. IT solutions provider — and the transition of ABCO Systems earlier in 2025, TZG remains committed to building long-term value by investing in great teams, strong cultures, and sustainable growth strategies.

Together, TZG and Storr will continue to deliver the deep-rooted client partnerships, local presence, community commitment, and exceptional service that have defined Storr’s history — now reinforced by TZG’s resources, network, and long-term perspective.

About The Zaf Group (TZG)

The Zaf Group is a family office established by Mike Zafirovski and his wife Robin, dedicated to partnering and growing family- and founder-led businesses with a long-term mindset. Its portfolio includes ACP CreativIT (IT solutions), the recently transitioned ABCO Systems (systems integrator), and now Storr (office & workplace solutions). TZG’s mission is to build great companies guided by values-based leadership, operational excellence, and a deep commitment to people development.
Learn more at www.thezafgroup.com

About Storr

Founded in 1914, Storr Office Environments is a trusted leader in workplace solutions across North Carolina and the Southeast. As a premier Steelcase dealer, Storr provides high-performance office furniture, architectural products, and a complete range of services tailored to customer needs — including Workplace Strategy and Design, Office Relocation and Reconfiguration, Furniture Repair and Refurbishment, Facility Maintenance and Day-Two Support, Records Management, PreOwned Furniture Solutions, Cleaning and Sanitization Services, Delivery and Installation, and Secure Storage.

Storr’s century-long success is rooted in its customer-first approach and strong charitable commitments: every solution is designed to simplify complexity, maximize value, and strengthen both client partnerships and the broader community.
Learn more at www.storr.com

Month: October 2025

The Formula for Enduring Success in Family-Owned Businesses