Summit, NJ: Pilot Hill Advisors LLC announced today that Array Architects, Inc. (www.array-architects.com), adopted a partial ESOP to broaden ownership, effect an orderly ownership transition and reward staff that have contributed so heavily to the company's growth and success. The firm's management team remains intact.
Read MoreSummit, NJ: Pilot Hill Advisors LLC announced today one of its engineering consultancy, surveying, landscape architecture clients restructured its ownership to include an Employee Stock Ownership Plan (ESOP) for a minority interest in the firm. Pilot Hill Advisors represented the company as its ESOP investment banker and assisted with the planning, execution and closing of this transaction.
Read MoreJo Swinson, the Business Minister of the United Kingdom, announced that an index of the 69 companies on London's FTSE stock exchange with 3% or more of their shares held by employees would become FTSE-compliant. The Minister said, "The Employee Ownership Index will now mean investors can identify thriving employee ownership businesses and be part of their success. I hope more businesses recognise the value of this model and give their employees a greater stake in their future and the success of their company."
Read MoreSummit, NJ: Robert Massengill was elected to the Board of Directors of Alliance Holdings, Inc., a 100% ESOP-owned, private equity firm located in Philadelphia, PA. The firm's core belief is that employee ownership, through the use of a captive ESOP structure, provides the greatest benefits to both selling shareholders and their employees. Ken Wanko, Alliance CEO commenting on the news said, "As our new leadership team looks forward, we will continue to acquire in companies that fit with our goals and objectives. Having Bob on our Board as an independent director will help us achieve these goals and we look forward to his contributions as a seasoned ESOP investment banker and company President."
Read MoreThe American Society of Pension Professionals & Actuaries (ASPPA) today announced the release of a new educational certificate called "The Employee Stock Ownership Plan (ESOP) Administration Certificate."
Read MoreSummit, NJ: Pilot Hill Advisors LLC announced today that Robin Industries, Inc. (www.robin-industries.com) and its shareholders recently completed the sale of 49% of the company to a newly-formed Employee Stock Ownership Plan (ESOP). The company's ownership has changed, but its management team will remain the same. Pilot Hill Advisors represented the company as its ESOP investment banker and assisted with the planning, execution and closing of this transaction.
Read MoreA study released by Alex Brill, former advisor to the Simpson-Bowles bipartisan deficit reduction commission and a fellow at the American Enterprise Institute, finds that private employee stock ownership plans (ESOPs) organized as S corporations increased employment over the last decade more quickly than the overall private sector. Among surveyed "S-ESOP" companies, the Brill study reported, jobs grew by 60 percent over the past decade, while jobs in the private economy as a whole remained relatively flat.
Read MoreSummit, NJ: Robert Massengill was recently elected to the Board of Directors of Queensgate Foods, a 100% ESOP-owned food distribution business located in Cincinnati, OH. The company was acquired in a management buyout in 2002 and became a 100% ESOP in 2008. Bob is one of two outside directors and works closely with the other directors, leadership team and ESOP advisors. Queensgate President Pat O'Callaghan commented, "Our company is very pleased Bob has accepted this nomination. We look forward to benefitting from his extensive ESOP advisory experience, as well as his experiences as a company president growing a service business."
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