Cincinnati Company Completes ESOP Transaction
Summit, NJ: Pilot Hill Advisors LLC announced today that The Brewer Company (www.thebrewerco.com) has sold a majority interest to its newly-formed Employee Stock Ownership Plan (ESOP). Terms of the transaction were not disclosed. Pilot Hill Advisors initiated, structured, arranged financing and negotiated the transaction on behalf of The Brewer Company.
Founded in Cincinnati, Ohio, The Brewer Company manufactures and distributes pavement maintenance products as well as roofing and industrial coatings and sealants from its plants located in Ohio, Illinois and Florida.
Commenting on the ownership change, the Company's President stated "There are no better stewards of this Company than the people who have helped create its success over the years. Our Company was founded in 1933 and we are confident and proud to pass the ownership on to all the employees of The Brewer Company.
Bob Massengill, Managing Director of Pilot Hill Advisors said, "The Brewer Company ESOP is a great fit for the firm and consistent with the Company's philosophy of giving back, while also providing internal liquidity for its shareholder."