of professionals who have different expertise to address issues that may arise during the process. Pre-planning and having a qualified team in place to help guide you in choosing the right exit strategy for both you and your business can save significant time, money, and headaches down the road.
Bandit Industries, Inc., a leading designer and manufacturer of wood and waste processing equipment, chose the ESOP path after abandoning two previous attempts to sell the Company – once to another manufacturer and once to a private equity firm. “We realized neither was a good fit for Bandit, so we made the decision to sell to our trusted employees,” said owner Dianne Morey. For Bandit, the ESOP ensured the
corporate culture that had made Bandit a success for 35 years would remain intact. Owner, Jerry Morey, explains, “We have a very strong, dedicated dealer
organization and a great crew, which is the key to our success. Our employees are experienced, smart and loyal to us, which is why we were so confident that an employee owned company would be the right fit for Bandit. All of our employees will have a stake in the Company.”
Succession and exit plans
highly customized solutions. However,
are There
isn’t a template you can use for every business.
experienced
investment banking advisors will help you reach your goals by structuring and implementing the best succession planning strategy for your Company. An ESOP transaction may be the right solution for business owners who desire to create a smooth transition, retain a life of relevance, preserve their legacies and reward their employees.
DESIGNING CUSTOM
PROCESS HEATING EQUIPMENT FOR OVER 40 YEARS.
• Each system incorporates high efficiency combustion systems, ceramic linings and PLC operating schemes.
• Can provide these systems shop assembled, or turnkey on site installations.
• Custom designed to your specific requirements. • Includes: Batch, Pusher, Car Bottom and Rotary Hearth.
Call 704.814.9221 |
AirAndEnergyInc.com ®
About the Author Shawn Ely is a Managing Director with Lazear Capital Partners, a Columbus-based, full-service Investment Bank with a unique niche in the Employee Stock Ownership Plan (ESOP) space. A Cleveland-area native and resident, Shawn leads the firm’s efforts in the Cleveland/NE Ohio market. Shawn has over 30 years of diverse experience in Investment Banking, Corporate Finance, Private Equity, Operations and Advisory experience at a variety of firms, including The Edgewater Funds (Chicago), Key Principal Partners/Cyprium, Carleton, McCreary, Holmes and Key Bank. Shawn is also a serial entrepreneur, having started and run several successful smaller enterprises early in his career. Shawn received his B.S. degree, cum laude, from the undergraduate division of the Wharton School at the University of Pennsylvania where he was a member of the undefeated freshman football team. He received his M.B.A. degree, with honors, from the University of Chicago Booth School of Business. Shawn lives in Brecksville with his wife Kerry and three active children, is an avid outdoorsman and enjoys golf, skiing, travel, and coaching and cheering on his children in their myriad activities.
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