Florida A/E Firm Completes ESOP Buyout
The principals of Pilot Hill Advisors today announced the completion the buyout of Nelson Engineering Co.. by its newly-formed employee stock ownership plan (“ESOP”). Terms of the sale were not disclosed.
Nelson Engineering Co. (www.nelsonengrco.com) is a multi-disciplinary engineering and consulting firm for governmental agencies and commercial customers. The company specializes in asset management services for establishing, running and disposing of facilities as well as aerospace ground support equipment. These engineering services, which span the assets’ life cycle, include requirements definition, planning, design engineering, testing and equipment checkout and commissioning, operations and maintenance engineering as well as asset disposal.
The company was founded by Mr. Blain Nelson, P.E. who was a former US Navy Civil Engineer Corps officer that later worked in the aerospace industry.
Commenting on the transaction Mr. Nelson said, "We are proud to have completed this important transaction and provide an opportunity for our employees to share in the economic opportunity as well as responsibility of serving our clients now and in the future. Our leadership team will remain in place for the foreseeable future and we are hopeful that the ESOP will enhance the motivation of our dedicated employees.”
The principals of Pilot Hill Advisors led the sale from start to finish including the planning, pre-transaction structuring and closing. Mr. Nelson said, "Our ESOP advisors assisted us greatly in preparing the company for sale, negotiating with the ESOP trustee and keeping the transaction on schedule and budget. We were quite pleased with the process."