Verit Advisors®, a Chicago-based investment banking firm, is pleased to announce the completion of the 100% sale of Max Auto Supply Company to an Employee Stock Ownership Plan (ESOP). Max Auto is the largest franchisee of Midas auto care and repair centers in the country with locations across Ohio, Michigan, New York, Pennsylvania, Kentucky, and Georgia. Founded in 1956, Max Auto has grown to 113 locations providing outstanding customer service and knowhow. Verit provided expertise in ESOP structuring, valuation, and debt placement alternatives, allowing Max Auto to evaluate and optimize sellers’ objectives.
“Verit was an excellent choice for us. They were always well organized and efficient. They helped us move through a very complicated transaction relatively easy with great speed. I highly recommend,” commented Randy Katz, President, Max Auto Supply Company.
Rob Ruszkowski, Principal at Verit Advisors shared, “It was an honor for Verit to help Max Auto achieve its objectives by implementing an ESOP. The company sees significant upside in aligning the goals of all employees to continue to perpetuate the success of Max as well as creating an excellent retirement benefit opportunity for the employees.”
Verit Advisors unites sophisticated investment banking capabilities with a client centric boutique, fluent in ESOPs, debt capital markets, mergers and acquisitions, and valuation services. Integrity, teamwork, service, and innovation are at the heart of the organization, as Verit strives to provide unparalleled advice and custom solutions to its clients. Mary Josephs founded Verit Advisors in 2009. Josephs and her team are considered to be one of the foremost experts in ESOP transactions and middle market strategic alternatives. For more information visit www.verit.com.