ESOP Transaction

/Tag: ESOP Transaction

Bandit Industries completes ESOP sale to employees

Bandit Industries, Remus, Michigan, announced that it finalized its transition to a 100 percent employee stock ownership plan (ESOP) company on Nov. 1. Former owners Mike Morey Sr., Dianne Morey and Jerry Morey announced their intention to sell the company in an ESOP over the summer of 2018—a move that was celebrated by Bandit’s employees

Chicago-Based Verit Advisors® Completes ESOP Transaction for Max Auto Supply Company

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

Cleveland’s Great Lakes Brewery to Become Employee-Owned

“Growing numbers of US companies are giving workers financial stakes via employee stock ownership plans,” writes Judy Stringer in Cleveland Crain’s Business. Now Great Lakes Brewing Company is poised to join their ranks. Bolstr, a small business crowdfunding site, listed Great Lakes as the number-one craft brewery in Ohio in a 2015 article and described the brewpub as follows: Great Lakes

IMI North American Acquisition Completes

A deal worth £148m ($198m) for Birmingham-based engineering company IMI to acquire an American counterpart has completed. In December it was announced that Bimba Manufacturing, which was founded in 1957 and is headquartered in Chicago, will become part of IMI Precision Engineering's US Industrial Automotion business. Completion was conditional on merger clearance and the approval by

Shutterfly to buy Eden Prairie-based Lifetouch in $825M deal

California-based Shutterfly, the big online retailer and manufacturer of  personalized photography and related products and services, plans to pay $825 million in cash to buy Eden Prairie-based Lifetouch, an employee-owned company and a leader in school photography. "We're focused on growing both these businesses," Shutterfly CEO Chris North said during a visit to Eden Prairie

Staab Construction becomes employee owned

Staab Construction Corporation has announced it recently completed a transition to become 100 percent employee owned through its Employee Stock Ownership Program (ESOP). “We have been transitioning to 100 percent employee owned for the past few years,” said Ben Lee, Chief Operating Officer. “We started the ESOP in 1989, with the goal of eventually being