Author Archives: Bret Keisling

The ESOP Podcast Episode 30 -Improving the Bottom Line: A Technical Look at Employee Ownership Culture and Value

The ESOP Podcast Episode 30 – Improving the Bottom Line: A Technical Look at Employee Ownership Culture and Value

This episode of The ESOP Podcast is a recording of the “Improving the Bottom Line: A Technical Look at Culture & Value” presentation given at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th from 3:00 PM-4:15 PM.  The presenters are Ed Wilusz ASA, CFA, Managing Director of Value Management, Inc, Matt Hancock of Praxis Consulting Group, and our own Bret Keisling of Capital Trustees.


 

Click below to download the accompanying “Improving the Bottom Line” slide show presentation:

Improving the Bottom Line

DISCLAIMER: The opinions expressed in this presentation and the presentation materials are not intended to be used as legal advice. Please consult with counsel as necessary.

 


More about Ed Wilusz and Value Managment, Inc.

[Photo Credit: Value Managment, Inc. ]

Value Management Inc.

“Ed Wilusz has been actively engaged in the appraisal profession since 1980. He has qualified as a business valuation expert witness and provided testimony in the following states: Pennsylvania, New Jersey, New York and Ohio. He is a Senior Member – Business Valuation in the American Society of Appraisers; a Chartered Financial Analyst (CFA); a past member of the ESOP Association’s Valuation Advisory Committee and Past Chairman of Sub-Committee to update Valuing ESOP Shares; Past-Director and Past-President of Bucks County Estate Planning Council; and Past-President of the Philadelphia Chapter of American Society of Appraisers. Ed is past chairman of Pearl S. Buck International and Director of the Bucks County College Foundation Board.” [Source: Value Managment, Inc. , Our Team]

For over 25 years, Value Management Inc. has acted as a financial advisor to both newly-formed and existing Employee Stock Ownership Plans (“ESOP”s) to assist the ESOP in transactions to acquire stock of the sponsor company. With over 125 years of combined valuation experience, Value Management Inc.’s team has prepared fairness opinions for dozens of ESOP transactions involving large, medium and small-sized companies. Value Management Inc.’s role is to provide the ESOP with an independent determination of the value of the stock that the ESOP is acquiring to ensure that the ESOP does not pay more than adequate consideration as defined in ERISA. It is Value Management Inc.’s consistent objectivity and independence that gives us our reputation for integrity. Our experienced analysts work closely with the ESOP attorneys and trustees throughout the transaction process. Our goal is to make the ESOP transaction process as smooth and transparent as possible.

[Source: Value Managment, About Us]

You can hear our in-depth interview with Ed Wilusz in Episode 4 of the ESOP Podcast.

More about Matt Hancock and Praxis Consulting Group

Matt Hancock

Praxis CG

Matt Hancock [Source: Praxis, Our People]

“Matt Hancock is a Consultant at Praxis, where he assists clients in developing and implementing high-engagement workforce strategies. Matt brings 12 years of domestic and global experience in education, employee ownership and change management to the team. His key competencies include leadership development, building high performance ownership cultures, process improvement, vision, strategy and governance.

Before joining Praxis, Matt served as co-founder and Executive Director of Chicago Tech Academy (ChiTech), Chicago’s first tech-focused high school serving low-income, inner-city students. Under Matt’s leadership, ChiTech achieved some of the city’s strongest test score improvements by building an organizational culture of collaboration, participation and employee empowerment.

Prior to co-founding ChiTech, Matt was the Associate Director of the Center for Labor and Community Research (CLCR) in Chicago, where he served as a trusted liaison to constituencies in manufacturing, labor, and government.

Before joining CLCR Matt lived, worked and studied in Bologna, Italy. As a consultant with Istituto per il Lavoro (Institute for Labor), Matt collaborated with major European institutes, manufacturers and labor unions on research into participatory forms of work organization, process improvement and supply-chain management.

Matt is also a recognized expert on the Italian cooperative movement, and an accomplished public speaker, writer, and thought leader. He is the author of Compete to Cooperate, a book about the cooperatives of Imola, Italy–one of the most successful, and enduring, experiences in employee ownership in history.

Matt is a past Board member of several non- and for-profit organizations including, most recently, the Freelancers Insurance Company, a for-profit insurer committed to providing affordable, effective health insurance to freelance and contingent workers in New York.

Matt earned an MBA in Cooperative Economics from the University of Bologna (Italy), where he studied governance, finance and strategy in the region’s top employee-owned firms, and a BA in history from Skidmore College.”

You can hear our in-depth interview with Matt Hancock in Episode 2 of the ESOP Podcast.

More about Bret Keisling, Capital Trustees, LLC

And, of course, you can learn more about our own Managing Director, Bret Keisling, on our about page, or listen to ESOP Podcast Episode 1: Introduction.


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Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 29 – Communicating Value to ESOP Participants

The ESOP Podcast Episode 29 – Communicating Value to ESOP Participants

This episode of The ESOP Podcast is a recording of the “Communicating Value to Participants” presentation given at the New Jersey/New York Chapter of The ESOP Association’s 2018 Spring Conference held in Syracuse, New York on April 5th, 2018.  The presenters are Rob Hilton, Director of Valuation and ESOP Services at Katz Sapper & Miller, Andy O’Neill, Director at Prairie Capital Advisors, and Bret Keisling, Managing Director at Capital Trustees.

During the second half of the podcast there is an excellent give and take with the diverse group of ESOP companies in the audience, which makes this presentation even more valuable for ESOPs looking to continuously improve their communication and engagement.

Click below to download the accompanying “Communicating Value to Participants” slide show presentation.

DISCLAIMER: The opinions expressed in this presentation and the presentation materials are not intended to be used as legal advice. Please consult with counsel as necessary.


More about Robert C. Hilton Jr. and Katz Sapper & Miller

Robert Hilton

Katz Sapper and Miller Logo

Rob Hilton, ASA is Director of Valuation and ESOP Services at Katz Sapper & Miller. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers and is based in Rochester, NY.  As one of the top 60 CPA firms in the nation, KSM has earned a reputation as a leader in the areas of accounting, tax and consulting services. KSM is regularly named one of the “Best of the Best” accounting firms in the nation by INSIDE Public Accounting magazine.  KSM is a 100% employee-owned S-corporation ESOP.

EXPERIENCE:  Rob has about 20 years of experience and has provided hundreds of valuations in a wide variety of equity classes.  Rob has extensive experience with the implementation and administration of employee stock ownership plans (ESOPs), the valuation of gift and estate planning, buy-sell agreements, recapitalization, mergers and acquisitions, purchase price allocations, financial reporting, and general corporate planning with experience in a broad range of industries. In addition, he focuses on the valuation of covenant-not-to-compete and non-solicitation agreements.

CERTIFICATIONS/EDUCATION:  He is a member of the National Center of Employee Ownership and The ESOP Association and is a regular speaker at regional and national conferences.  He is currently the Executive Vice President of the New York/New Jersey ESOP Association Chapter.

Rob has testified as an expert witness in the Superior Court of New Jersey.

Rob holds a B.A. in Chemistry and Psychology from Emory University and an M.B.A. from the University of Rochester, William E. Simon Graduate School of Business Administration.

You can also get to know more about Rob Hilton in his own words by listening to The ESOP Podcast Episode 23 – Rob Hilton, Mark Kossow, and Rich Heeter.

More about Andy O’Neill and Prairie Capital Advisors (PCA)

Andy O’Neill is a Director with Prairie Capital Advisors (PCA) in Boston, Massachusetts. PCA is an employee-owned company that provides investment banking, ESOP advisory and valuation services to support the growth and ownership transition strategies of middle-market companies. PCA is based Oakbrook Terrace, with offices in Boston, Atlanta, Louisville, Cedar Rapids, and Chicago.  The company is an advisor to closely-held companies nationwide.

Andy advises companies and principals on valuation and ownership transition issues specifically Employee Stock Ownership Plan (ESOP) formation and implementation.  Mr. O’Neill has performed valuation and economic analysis services for clients in the following industries: software, retail, manufacturing, distribution, energy services and infrastructure, utilities, telecommunications, transportation, and engineering and construction management.

EXPERIENCE:  Prior to joining Prairie Capital Advisors, Mr. O’Neill was a Managing Director at independent valuation firms, a Principal with the Consulting division of Bechtel Corporation, and the successor entity Nexant, where he managed the Transaction Advisory Services practice. Additionally, Andy was Vice President of Merrill Lynch Business Advisory Services working with closely-held businesses and owners on liquidity and ownership transition issues.

EDUCATION/CERTIFICATIONS

  • Bachelor of Science in Mechanical Engineering from Cornell University.
  • FINRA Series 79 and 63 Investment Banking Registrations

PROFESSIONAL AFFILIATIONS

  • National Center for Employee Ownership (NCEO)
  • The ESOP Association
  • Association for Corporate Growth

More about Bret Keisling, Capital Trustees, LLC

And, of course, you can learn more about our own Managing Director, Bret Keisling, on our about page, or listen to ESOP Podcast Episode 1: Introduction.


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We Want to Hear from YOU

Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 28 – Patrice Radogna of Valuation Research Corporation

The ESOP Podcast Episode 28 – Patrice Radogna of Valuation Research Corporation (VRC)

Our guest is Patrice Radogna, ASA, CBA, CPA of Valuation Research Corporation (VRC). Patrice Radogna sat down with Bret Keisling at the 2018 Spring Conference of the New England Chapter of The ESOP Association on Friday, March 23rd in Burlington, Massachusets to discuss ESOP valuation.  She steps us through the approaches to the valuation of a company transitioning to employee ownership.

You can read the article discussed in the second half of the podcast, “Employee Stock Ownership Plans and the Tax Act“, in the March 2018 issue of Practical Tax Strategies.

You can follow Patrice Radogna on LinkedIn.  Read more of Patrice Radogna’s valuation perspective on the VRC blog; for example ESOP Trustees Should Require Peer Review in ESOP Valuations.

Watch a live excerpt of @CapTrusteesBret recording Episode 28 of The ESOP Podcast on Periscope here.

@CapTrusteesBret recording with @PRadogna of @VRCvaluation at the @ESOPAssociation New England Chapter Spring Conference.

As mentioned at the end of the podcast, not only does Patrice Radogna value companies, she also knows the value of being a good sport!
Way to come through on that Superbowl LII bet!

A warm welcome to the 2018 Spring Conference of the New England Chapter of The ESOP Association from Chapter President Amy Huot


More about Patrice Radogna, ASA, CBA, CPA

Ms. Radogna has over 17 years of experience in the valuation of privately held businesses, professional practices, pass-through entities and intangible assets. Her areas of specialty lie in the disciplines of trust and estate tax planning, ESOPs and shareholder transactional work.  Ms. Radogna has experience as a valuation advisor to clients in various industries with a particular expertise in the professional services practices.

Prior to joining VRC, Ms. Radogna was a director with Delphi Valuation Advisors for 15 years. She held consulting positions with the regional accounting and consulting firm, Tofias, P.C. and with a boutique consulting firm in New York City, Kahn Consulting, Inc. Prior to her experience as a consultant, she was employed as a credit underwriter for a large insurance company, where she performed in-depth financial analyses of mid to large size construction companies.

Ms. Radogna earned a bachelor of science degree in finance from Boston College. She subsequently received a certificate of accounting from New York University and is licensed in the State of New Hampshire as a Certified Public Accountant. Ms. Radogna is also an Accredited Senior Appraiser, Certified Business Appraiser, Certified Valuation Analyst, and Accredited in Business Appraisal Review.” [Source: About VRC Profecssionals]

More about Valuation Research Corporation (VRC)

“Since 1975, VRC has delivered supportable conclusions of value to domestic and international clients of all sizes, types and across all industries. We are a trusted partner to legal, tax and audit professionals.

VRC provides objective, practical guidance and advice to help you achieve your business objectives.”

[Source: Valuation Research Corporation, Inc., Copyright 2018]


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We Want to Hear from YOU

Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 27 – If I’d Only Known Then What I Know Now: Transitioning to and Embracing an ESOP

Laurie Calvert presenting with Bret Keisling

The ESOP Podcast Episode 27 – If I’d Only Known Then What I Know Now: Transitioning to and Embracing an ESOP

Today’s episode has two parts, both recorded at the 2018 Spring Conference of the New England Chapter of The ESOP Association on Friday, March 23rd in Burlington, Massachusets.

Capital Trustees is proud to be a Gold Sponsor of the 2018 Spring Conference of the New England Chapter of The ESOP Association in Burlington, Massachusets.

We start with an interview with Laurie Calvert, Chief Operating Officer of Meridian Associates, Inc., a civil engineering and land surveying firm that transitioned to 100% employee ownership in 2016.  She shares her perspective as both a leader and a participant in the early years of an ESOP, including a great analogy to the early years of home ownership.

The external trustee for Meridian Associates’ ESOP is Kjersti Cory of GreatBanc Trust Company, who planned to co-present “If I’d Only Known Then What I Know Now: Transitioning to and Embracing an ESOP” with Laurie Calvert at the conference.  Unfortunately, Kjersti Cory was waylaid by the unpredictable winter weather, and so Bret Keisling, Managing Director at Capital Trustees, LLC, stepped in as understudy to present from the external trustee perspective. The second half of this podcast is a recording of that interactive session, which is designed to give companies who are thinking about becoming an ESOP or are new to ESOPs information and ideas to help with the success of the transition.  As you will hear, audience members were invited to ask questions, and we invite you to contact either Laurie Calvert or Bret Keisling with your own questions via email.

[The first section of the podcast has some background noise from the conference, which subsides as the recording progresses. Listeners with auditory issues that make it difficult to process background interference should skip ahead to the 18:05 mark to jump to the lead-in to the presentation.]

Laurie Calvert presenting with Bret Keisling

L-R: Laurie Calvert of Meridian Associates, Inc. and Bret Keisling of Captial Trustees, LLC.

Click below to download the accompanying “If I’d Only Known Then What I Know Now: Transitioning to and Embracing an ESOP” slide show presentation.

If I’d Only Known Then What I Know Now: Transitioning to and Embracing an ESOP

DISCLAIMER: The opinions expressed in this presentation and the presentation materials are not intended to be used as legal advice. Please consult with counsel as necessary.


More about Laurie Calvert and Meridian Associates, Inc.

Laurie Calvert Meridian Associates COO

Meridian Associates

“Meridian Associates provides land development, land surveying, civil engineering, renewable energy, 3D laser scanning, and sustainability consulting services to corporate, commercial, industrial, institutional and public sector clients. These services encompass a comprehensive permit and development process from initial site acquisition studies to final compliance certification, analysis and implementation.

Meridian Associates is headquartered in Beverly, Massachusetts with a branch office in Westborough, Massachusetts. Meridian Associates has provided services to projects in 29 of 48 contiguous states in the US, and several foreign countries. Meridian seeks to provide clients with technical expertise and end-to-end management of complex development and energy projects in helping them to succeed financially, environmentally and socially responsibly.” [Source: Meridian Associates, Inc., Copyright 2017 ]

“Laurie Calvert is the Chief Operating Officer at Meridian Associates. Laurie brings over 20 years of business experience in organizational leadership, operations and financial management, strategy development and execution, and program management to her role as COO at the firm. Laurie is responsible for overseeing the company’s day-to-day operations including the strategic planning and execution process. On any given day, Laurie is working hard to promote a culture of teamwork, improving tools and infrastructure to enable firm performance, or communicating with employees on firmwide initiatives.  Laurie serves on the board of directors at Meridian Associates.

Laurie earned her Master of Arts in Urban + Environmental Policy & Planning from Tufts University. Her Bachelor of Science in Business Administration is from Oakland University.” [Source: Meridian Associates – Leadership]


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Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 26 – Internal vs. External ESOP Trustees

Brian Keisling

The ESOP Podcast Episode 26 – Internal vs. External ESOP Trustees 

In this week’s episode of The ESOP Podcast, Bret Keisling is joined by Capital Trustees’ Client Relations Associate, Brian Keisling, to discuss the ins and outs of internal vs. external trustees and the engagement process for switching to an external trustee. Topics include the risks faced by all trustees, the early stages of a new relationship between company and trustee, and how making the switch may or may not affect the valuation process.

 

Brian Keisling

Capital Trustees’ Client Relations Associate, Brian Keisling

Bret Keisling presenting on one aspect of an external trustee’s obligations at the ESOP Multi-State Conference in September 2017.


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We Want to Hear from YOU

Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 25 – Tabitha Croscut of Devine Millimet on Transactional Law for ESOPs

The ESOP Podcast Episode 25 – Tabitha Croscut of Devine Millimet on Transactional Law for ESOPs

Our guest is Tabitha Croscut an ESOP attorney with Devine Millimet, Attorneys at Law. Tabitha Croscut discusses the history and current practice of transactional law for employee stock ownership companies.  She walks the listener through the process owners interested in employee-ownership would go through when they consult an ESOP attorney to investigate whether an ESOP is right for their company.

This podcast was recorded during the March 2018 ESOP Professionals’ Forum. The Professional Forum is a unique opportunity for professionals that serve the ESOP community to have strategic and complex discussions about the challenges facing ESOPs. Tabitha Croscut also recommends you attend your local ESOP Association meetings, such as her local chapter the New England Chapter of the ESOP Association, and the annual ESOP Association conference in Washington, DC.

You can follow the latest from Tabitha Croscut on Twitter @ESOPDiva and on LinkedIn.


More about Tabitha Croscut

Tabitha Croscut, Source: Devine Millimet, Professionals

I help my clients assess, consider, and navigate the utility of an Employee Stock Ownership Plan as an ownership succession and employee incentive strategy. For companies that have already implemented an ESOP, I provide counsel and guidance for ongoing compliance of the ESOP as a qualified retirement plan and with any related fiduciary or corporate governance concerns, including US Department of Labor and Internal Revenue Service audits and any voluntary correction submissions that may be applicable.

My clients include business owners and companies considering an ESOP, companies that have already implemented an ESOP, individual selling shareholders, banks, and internal and external (individual and institutional) ESOP trustees. I have advised clients in ESOP transactions ranging from under a million dollars to over four hundred million dollars.

I frequently speak at ESOP conferences nationwide and present regularly on how ESOPs can be an effective and tax-efficient exit or transition planning solution for owners of privately held businesses.

I strongly believe that employee ownership through an ESOP can be extremely motivating for employees in a structure that maintains good jobs in local communities while serving as an ownership transition and liquidity strategy for privately held business owners. Curious how to hire and ESOP attorney and why it matters?

When I’m not counseling clients on a myriad of ESOP related matters, my other job is as a mother of two young girls who keep me busy with their love of animals, sports, and musical activities. I also enjoy travel and meeting new people in new towns all over the United States.” [Source: Devine Millimet, Professionals]

More about Devine Millimet

“Devine Millimet is one of the largest and most dynamic business and litigation law firms in the region, serving our clients and our communities since 1947. Working from our historic headquarters building in Manchester, New Hampshire, and our satellite offices in Concord and Portsmouth, New Hampshire and Boston, Massachusetts, we serve individuals, businesses, and nonprofits in the areas of healthcare, tax, estate planning, construction, intellectual property litigation, medical malpractice, real estate, insurance, utilities, and all aspects of corporate law, including finance, employment, workers’ compensation, mergers and acquisitions, bankruptcy, and government affairs. We also provide strategic consulting, lobbying, bond and public finance services, and crisis management services as part of our government regulation practice and Devine Strategies strategic consulting group.”

Source: About Devine Millimet


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We Want to Hear from YOU

Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 24 – Michael Keeling, President of The ESOP Association

The ESOP Podcast Episode 24 – Michael Keeling, President of The ESOP Association

Our guest is Michael Keeling, President and Chief Staff Officer of The ESOP Association.

This podcast was recorded on Friday, March 2nd, 2018 at The Westin Canal Place in New Orleans, Louisiana during the ESOP Professionals’ Forum. The Professional Forum is a unique opportunity for the vendor members of the ESOP Association to have strategic and complex discussions of the challenges facing ESOPs.  There is no other program like this in the employee stock ownership world.

In this podcast, we learn how many pieces of the bigger picture came together to bring Michael Keeling into the employee ownership community, and what makes ESOP organizations special.  ESOPs have had bi-partisan support since the start of the movement because employee ownership appeals to both our independent and communal spirit.

Michael Keeling has visited over 573 ESOP companies and has great stories to share from his visits. He invites all ESOP companies to join the national association and their local chapter. He also invites listeners to learn more about The Employee Ownership Foundation, whose mission is to fund research and educational programs to increase the level of awareness and appreciation of the benefits of employee ownership in order to educate the thought leaders of the future.

 

Watch a live excerpt of @CapTrusteesBret recording Episode 24 of The ESOP Podcast on Periscope here.

The ESOP Podcast with Rob Zicaro referenced at 35:06 in this podcast is Episode 22.


More about J. Michael Keeling, CAE

J. Michael Keeling, CAE

President, The ESOP Association
[Photo by Delane Rouse/DC, Source: The ESOP Association, Executive Bios]

“J. Michael Keeling, CAE, is the President and Chief Staff Officer of The ESOP Association, a national trade association promoting the growth of employee ownership in America through Employee Stock Ownership Plans, or ESOPs.

Since assuming his position in April 1991, the Association has experienced strong growth in membership and revenues, and is the largest organization in America dedicated to ensuring employee-owned companies are effective in operating their ESOP in an environment of ownership.

He is also President of the Association’s affiliated 501(c)(3) educational and research foundation, the Employee Ownership Foundation.

Prior to becoming President, Michael was General Counsel from 1984. Prior to 1984, he represented the Association on several legislative initiatives before Congress. While General Counsel, he maintained a private practice of law focused on legislative and administrative issues related to tax and retirement income policies.

During the 1970’s, he was Chief of Staff for former Congressman J. J. Pickle of Austin, Texas. Prior to that, he worked as an aide in several statewide campaigns in Texas, as a private consultant to labor and farm groups, and as an employee of the Texas State Legislature.

He is a graduate of Yale University and the University of Texas Law School.

The American Society of Association Executives has certified Michael as a Certified Association Executive. He is listed in Who’s Who in American Politics and Who’s Who in America.

He is married and has two children.”

More about The ESOP Association

The ESOP Association Logo

“The ESOP Association is America’s largest employer-sponsored advocacy and education association focused on employee stock ownership plans. Founded in 1978, the Association seeks to enhance federal laws governing ESOPs, provide members with expert information, and fund research via the Employee Ownership Foundation (an affiliate).

The ESOP Association is a national non-profit organization with 18 local Chapters. Its members include ESOP companies, companies considering an ESOP, and service providers that assist in setting up and maintaining ESOPs.” [Source: The ESOP Association, About the Association]

More about the Employee Ownership Foundation

Employee Ownership Foundation logo

“The Employee Ownership Foundation’s (EOF) primary purpose is to fund research and educational programs to increase the level of awareness and appreciation of the benefits of employee ownership and increase the number of employees who have access to these benefits.”

“Those who have experienced firsthand the power of employee ownership believe whole-heartedly that economic growth, employee well-being and dignity, and success of the business enterprise are common characteristics of employee-owned companies.”

[Source: The Employee Ownership Foundation, What We Do and About Employee Ownership]


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Do you have feedback about this or any other episode of The ESOP Podcast? Do you have a topic that you would like for us to discuss on the show? Would you like to appear on the podcast as a featured guest or a panelist in a group presentation? Then we want to hear from you! Send us an email at podcast@captrustee.com.

The ESOP Podcast Episode 23 – Rob Hilton, Mark Kossow, and Rich Heeter

ESOP 101 Around the Table

The ESOP Podcast Episode 23 – Rob Hilton, Mark Kossow, and Rich Heeter

This special ESOP Podcast is a companion episode to our well-received “ESOP 101” podcast (Episode 21), which presented a 360-degree overview of the “What, Why, and How” of employee stock ownership plans.  In this episode we’ll learn more about the perspective and background of each of those “ESOP 101” presenters: Robert C. Hilton Jr., ASA, Director of Valuation and ESOP Services at Katz, Sapper & Miller, Mark R. Kossow, Esq., a partner at Archer & Greiner P.C., and Richard A. Heeter, Managing Director at Captial Trustees, LLC.

ESOP 101 Around the Table

L-R: Mark R. Kossow, Esq. Archer & Greiner P.C., Robert C. Hilton Jr., ASA, Katz Sapper & Miller, and Richard A. Heeter and Brian Keisling of Captial Trustees, LLC.

 

ESOP 101

Download “The ESOP Podcast Episode 21 – ESOP 101: What, Why, and How” podcast and presentation here.


More about Robert C. Hilton Jr. and Katz Sapper & Miller

Robert Hilton

Katz Sapper and Miller Logo

Rob Hilton, ASA is Director of Valuation and ESOP Services at Katz Sapper & Miller. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers and is based in Rochester, NY.  As one of the top 60 CPA firms in the nation, KSM has earned a reputation as a leader in the areas of accounting, tax and consulting services. KSM is regularly named one of the “Best of the Best” accounting firms in the nation by INSIDE Public Accounting magazine.  KSM is a 100% employee-owned S-corporation ESOP.

EXPERIENCE:  Rob has about 20 years of experience and has provided hundreds of valuations in a wide variety of equity classes.  Rob has extensive experience with the implementation and administration of employee stock ownership plans (ESOPs), the valuation of gift and estate planning, buy-sell agreements, recapitalization, mergers and acquisitions, purchase price allocations, financial reporting, and general corporate planning with experience in a broad range of industries. In addition, he focuses on the valuation of covenant-not-to-compete and non-solicitation agreements.

CERTIFICATIONS/EDUCATION:  He is a member of the National Center of Employee Ownership and The ESOP Association and is a regular speaker at regional and national conferences.  He is currently the Executive Vice President of the New York/New Jersey ESOP Association Chapter.

Rob has testified as an expert witness in the Superior Court of New Jersey.

Rob holds a B.A. in Chemistry and Psychology from Emory University and an M.B.A. from the University of Rochester, William E. Simon Graduate School of Business Administration.

More about Mark R. Kossow and Archer & Greiner PC

Mark Kossow

Archer and Greiner logo

Mark Kossow focuses his practice on employee stock ownership plans (ESOPs) and is a partner at Archer & Greiner P.C.

His practice is focused on implementing ESOP transactions and their compliance with IRS and Department of Labor requirements.  Mark’s strong tax background helps corporations, fiduciaries, and selling shareholders to maximize the tax advantages of their ESOP transactions.

He frequently speaks on topics relating to ESOPs, ERISA, and tax matters at meetings of The ESOP Association and other organizations concerned with exit planning and succession planning.

Mark is listed in Best Lawyers in America (Tax Law), and is an active member of The ESOP Association and the National Center for Employee Ownership (NCEO).

Mark is a graduate of the University of Michigan (with distinction) and Albany Law School (cum laude).  He also holds an advanced legal degree (LL.M.) in taxation from New York University Law School.

More about Richard A. Heeter, Capital Trustees, LLC

And, of course, you can learn more about our own Managing Director, Rich Heeter, on our about page, or listen to ESOP Podcast Episode 1: Introduction.


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The ESOP Podcast Episode 22 – Rob Zicaro on Employee Ownership

The ESOP Podcast Episode 22 – Rob Zicaro on Employee Ownership

Our guest is Rob Zicaro, an ESOP advocate, speaker, and consultant, and a singer-songwriter. He spent 26 years as an employee-owner at Web Industries, and he shares his insider’s perspective from his years as an active employee-owner, as well as his current experience enjoying this unique benefit and continuing his career in music at RobZMusic.com.  Rob offers a lot of food for thought for both current and prospective employee owners, with an emphasis on the importance of developing a culture of communication and mutual respect.

Here’s the video of Rob Zicaro speaking at “The Future of the American Workplace” conference, July 26th, 1993, as heard at the 05:15 mark in this podcast episode.

 

@CapTrusteesBret kicked off this podcast from Worcester, Massachusetts on Periscope here.


about Rob Zicaro

Rob Zicaro [Source: RobZ Music]

“Professional songwriter who writes, produces, arranges, and mixes original radio-ready songs. Also an employee ownership advocate with 26 years experience.” You can follow @RobZicaro on Twitter and his daily ESOP food for thought here.

You can find more about Rob’s music on his webpage RobZMusic.com, or subscribe to Rob’s music on Soundcloud here.

More about Web Industries

“A 100% employee-owned company, Web Industries, Inc., is the largest and most diverse provider of flexible material converting and end-product manufacturing services for the Advanced Composites, Medical, Consumer Health & Hygiene, Multi-Layer Insulation, and Wire & Cable markets. Utilizing the widest array of slitting, spooling, winding, and ply formatting configurations in the business, Web formats composites, nonwovens, specialty films, papers, foils, laminates, and foams for downstream manufacturing. Web specializes in developing optimized material processing solutions that deliver converted materials on custom-designed spools, planetary rolls, planetary pads, and ply kits for efficient, cost-effective product manufacturing. ”

“A 100% employee-owned company, Web Industries has been a vocal proponent of EO for decades, and the company’s employee-owners have long been active within the local, regional, and national EO communities. Web’s employee-owners have even provided valuable insights on the topic to US Presidents and Congress. Every person at Web is a stakeholder in the company, and they know that the company’s success is driven by the success of our customers. This makes us stewards of their business as well as ours and drives us to constantly improve our processes, discover new efficiencies, and develop new capabilities to meet market needs.” [Source: Web Industries, Marlborough, MA]


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The ESOP Podcast Episode 21 – ESOP 101: What, Why, and How

ESOP 101

The ESOP Podcast Episode 21 – ESOP 101: What, Why, and How

Mark R. Kossow, Esq., a partner at Archer & Greiner P.C., Robert C. Hilton Jr., ASA, Director of Valuation and ESOP Services at Katz, Sapper & Miller, and Richard A. Heeter, Managing Director at Captial Trustees, LLC  gathered together at Archer & Greiner’s offices in Haddonfield, NJ to present you with a 360-degree overview of the what, why, and how of ESOPs.

DISCLAIMER: The opinions expressed in this presentation and the presentation materials are not intended to be used as legal or valuation advice. Please consult with counsel as necessary.

Click below to download the accompanying “ESOP 101 What, Why and How” slide show presentation.

ESOP 101

 

This presentation was broadcast live on Periscope on Thursday, February 8th.  Follow @CapTrusteeBret on Twitter for future live broadcasts.

ESOP 101 Presentation Panel Live

L-R: Mark R. Kossow, Esq. Archer & Greiner P.C., Robert C. Hilton Jr., ASA, Katz Sapper & Miller, and Richard A. Heeter of Captial Trustees, LLC.

Archer and Greiner Haddonfield

Archer & Greiner’s offices in Haddonfield, NJ.


More about Mark R. Kossow and Archer & Greiner PC

Mark Kossow

Archer and Greiner logo

Mark Kossow focuses his practice on employee stock ownership plans (ESOPs) and is a partner at Archer & Greiner P.C.

His practice is focused on implementing ESOP transactions and their compliance with IRS and Department of Labor requirements.  Mark’s strong tax background helps corporations, fiduciaries, and selling shareholders to maximize the tax advantages of their ESOP transactions.

He frequently speaks on topics relating to ESOPs, ERISA, and tax matters at meetings of The ESOP Association and other organizations concerned with exit planning and succession planning.

Mark is listed in Best Lawyers in America (Tax Law), and is an active member of The ESOP Association and the National Center for Employee Ownership (NCEO).

Mark is a graduate of the University of Michigan (with distinction) and Albany Law School (cum laude).  He also holds an advanced legal degree (LL.M.) in taxation from New York University Law School.

More about Robert C. Hilton Jr. and Katz Sapper & Miller

Robert Hilton

Katz Sapper and Miller Logo

Rob Hilton, ASA is Director of Valuation and ESOP Services at Katz Sapper & Miller. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers and is based in Rochester, NY.  As one of the top 60 CPA firms in the nation, KSM has earned a reputation as a leader in the areas of accounting, tax and consulting services. KSM is regularly named one of the “Best of the Best” accounting firms in the nation by INSIDE Public Accounting magazine.  KSM is a 100% employee owned S-corporation ESOP.

EXPERIENCE:  Rob has about 20 years of experience and has provided hundreds of valuations in a wide variety of equity classes.  Rob has extensive experience with the implementation and administration of employee stock ownership plans (ESOPs), the valuation of gift and estate planning, buy-sell agreements, recapitalization, mergers and acquisitions, purchase price allocations, financial reporting, and general corporate planning with experience in a broad range of industries. In addition, he focuses on the valuation of covenant-not-to-compete and non-solicitation agreements.

CERTIFICATIONS/EDUCATION:  He is a member of the National Center of Employee Ownership and The ESOP Association and is a regular speaker at regional and national conferences.  He is currently the Executive Vice President of the New York/New Jersey ESOP Association Chapter.

Rob has testified as an expert witness in the Superior Court of New Jersey.

Rob holds a B.A. in Chemistry and Psychology from Emory University and an M.B.A. from the University of Rochester, William E. Simon Graduate School of Business Administration.


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