Summit, NJ: Pilot Hill Advisors LLC announced today that the shareholders of Cambridge, MA based Charles River Analytics, Inc. (www.cra.com) sold their outstanding stock to the company's newly-formed Employee Stock Ownership Plan (ESOP). Terms of the transaction were not disclosed. Pilot Hill Advisors LLC structured and negotiated the transaction on behalf of Charles River Analytics, Inc.
Since 1983, Charles River Analytics, Inc. has been applying computational intelligence technologies to develop mission-relevant tools and solutions for accurate situation assessment and robust decision-making. The company continues to grow its technology, customer base, and strategic alliances through research and development programs for the United States Department of Defense and other government agencies, addressing a broad spectrum of mission areas and functional domains, including: sensor and image processing, situation assessment and decision aiding, human systems integration, and cyber analytics.
Commenting on the transaction, the company's CEO Greg Zacharias stated, "We are pleased that our employees will have a new long term stake in the success of our company through the ESOP. We believe the ESOP will enhance our ability to attract and retain the talent that has been the cornerstone of our company's success. And we're especially grateful to Pilot Hill Advisors for their broad guidance and attention to detail that made this entire transaction possible."
Jim Higgins, Managing Director of the company's financial advisor Pilot Hill Advisors, LLC commented, "Charles River Analytics, Inc. is an ideal candidate for the ESOP transaction. Not only should the company gain from the ESOP's employee motivational attributes, but the various tax and federal government contractor benefits should enhance the company's financial position."