Tag Archives: Open Book Management

The ESOP Podcast Episode 34 – Bob Whalen, CEO of Employee-Owned HB Global, LLC

The ESOP Podcast Episode 34 – Bob Whalen, CEO of Employee-Owned HB Global, LLC

Our guest is Robert “Bob” Whalen, President & Chief Executive Officer (CEO) of HB Global, LLC. HB Global employs approximately 750 people across three divisions of employee-owned mechanical service companies: HB McClure Company, IT Landes Company, and Nash Plumbing and Mechanical, with locations in Harrisburg, York, and Harleysville, Pennsylvania, and Wildwood, Florida.

Bob Whalen describes how their ESOP creates both a positive current working environment today and a retirement vehicle for the future. HB Global LLC practices open-book management and finds that it empowers every one of their employees to make a positive impact on the finances of the business.  An ESOP won’t turn a bad company into a good company — but an ESOP can make a good company into a great company.  Focusing on employees first helps HB Global outperform the marketplace.

You can view part of today’s interview on Periscope here.  Follow the latest from HB Global on Twitter @HBMcClure and @IT_Landes

Bob Whalen, President & CEO of HB Global speaking with Bret Keisling of Capital Trustees

To listen to the “Women in ESOPs” presentation mentioned at the top of this podcast, tune into Episode 33 here.


More about HB Global, LLC

HB Global, LLC Logo

“HB Global, LLC, is the organizational partner that supports three divisions of mechanical service companies: HB McClure Company, IT Landes Company, and Nash Plumbing and Mechanical. Directed by a Senior Leadership Team, HB Global is responsible for guiding each division in living our core values, providing employees with opportunities for professional development, and protecting shareholder value. HB Global also encourages employees to connect with their communities and empowers employees to serve as trusted advisors to build lasting client relationships. A key component of this empowerment is participation in our employee stock ownership plan (ESOP). It is this ownership status and our core values that are the driving factors behind our continued growth.” [Source: About HB Global, LLC]


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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 31 – George Raftopoulos of ROI Cubed, and Making Financial Statements Fun at NCEO18

George Raftopoulos

The ESOP Podcast Episode 31 – George Raftopoulos of ROI Cubed, and Making Financial Statements Fun at NCEO18

This episode of The ESOP Podcast begins with an introduction to George Raftopoulos, principal at ROI Cubed a boutique consulting firm that helps business owners with succession planning and implementation.

We then share George Raftopoulos and Bret Keisling of Capital Trustees presenting “Making Financial Statements Fun / Fun with Numbers” at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th from 9:00 – 10:15 AM.

Click below to download the accompanying “Making Financial Statements Fun“ slide show presentation:

NCEO18 Making Financial Statements Fun

 

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 ROI Cubed

ROI Cubed

ROI Cubed is “a boutique consulting firm helping business owners like you attain maximum value thru operational excellence, value growth and planning for your eventual succession through internal transitions such as ESOP or external sale. We work with you and your company before, during and after your transition.” [Source: ROI Cubed, LLC]

More about George Raftopoulos

George Raftopoulos

“George Raftopoulos spent 25 years growing a registered investment advisory firm that became one of the largest offices by revenue in the country for a national broker/dealer. Having expanded the firm both organically and through acquisitions, he eventually sold the practice to a competitor and his passion for consulting businesses on value growth, transition planning, and mergers & acquisitions began.

Having already advised a number of successful business owners in various industries on their personal retirement and personal wealth matters, he founded ROI-Cubed as a result of his own experiences selling his firm.

George and ROI-Cubed consult business owners with a unique process and methodology that first begins with an assessment audit of the company to identify potential risks, thereby increasing profits and overall enterprise value. Their work then considers the company’s owners, company’s board, and the company’s overall financial goals in formulating the most strategic exit option for all parties involved. ROI-Cubed is industry agnostic and has worked with privately held and family-owned companies in a variety of industries with revenues between $2m and $50m across the country.

Prior to forming ROI-Cubed and after having sold his own practice, George spent several years consulting another financial firm and in the process, helped quadruple that company’s revenues.

Along with the satisfaction he gets helping businesses transform and grow or watching a business owner’s dreams become reality as they implement an exit plan or close on a merger, sale, or acquisition, George’s personal passions include spending life with his wife, basketball, biking, golfing and snowboarding in Vermont.

George serves his clients as a Corporate Value Growth Advisor (CVGA®) licensee, a Certified Mergers & Acquisitions Advisor® (CM&AA), a CERTIFIED FINANCIAL PLANNER™ Practitioner (CFP®), and a Certified Estate Planner™ (CEP®) certificant . He is a 1987 graduate of Tufts University with a BA in economics as well as having earned his MBA with a tax concentration in 1996 from Bentley University.

George volunteers time in his local Rotary Club in Kennebunk, Maine, is vice chairman of his town’s Planning Board, and is a member of the Alliance of Mergers & Acquisitions Advisors (AMAA) in Chicago and the M&A Source out of Atlanta, Georgia . He is a member of ProVisors® in Portsmouth, NH. ProVisors ® is a community of over 4,000 trusted advisors across the country who have the common goal of sharing knowledge and serving as resources to provide exceptional, multi-disciplinary solutions to clients.” [Source: About ROI Cubed]

 


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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 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 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 19 – Martin Staubus of The Beyster Institute at The Rady School of Management

The ESOP Podcast Episode 19 – Martin Staubus of The Beyster Institute at The Rady School of Management

Our guest is Martin Staubus, Executive Director of The Beyster Institute at The Rady School of Management, University of California San Diego.  We learn about some of the history of the ESOP movement, how the benefits of employee ownership are even more relevant today, and then take a peek into our crystal ball on the future of ESOPs.

Along the way, we discuss transparency, open-book management, and The Great Game of Business.  We also give an overview of the training and certification programs offered by the Beyster Institute’s Governance Curriculum for Employee Ownership Companies.

Here are some resources if you wish to delve deeper into the topics covered in this podcast:

And, as mentioned at 1:18:18 in the podcast, here is a view of the beautiful Rady School of Managment Wells Fargo Hall where the podcast was recorded.

Rady School of Managments Wells Fargo Hall

Source: UC San Diego News


More about Martin Staubus

Martin Staubus

Martin Staubus, Source: UC San Diego Rady School of Managment

Martin Staubus has been leading The Beyster Institute for 18 years. “He has advised hundreds of business leaders on the design and creation of employee stock ownership programs, including ESOPs, stock options plans, SAR plans, restricted stock plans and more.” [Source: LinkedIn]

More about The Beyster Institute at The Rady School of Management at the University of California San Diego

Rady School of Management

“The Beyster Institute at UC San Diego’s Rady School of Management works to advance the understanding and practice of employee ownership as an effective and responsible business model. We focus on educationresearch, and consulting to promote employee ownership and the creation of effective ownership cultures.

We serve companies interested in the employee ownership business strategy, business owners looking to transition out of their companies and professional advisers who want to better serve their clients by gaining employee ownership knowledge.”

Source: Rady School of Management, Beyster Institute, Employee Ownership 

More about J. Robert Beyster

“The work of the Beyster Institute began in 1986 when, as part of the Foundation for Enterprise Development, it took on the commission to spread the visionary ideas of Dr. J. Robert Beyster, the founder of SAIC. These ideas have led to the development of many highly successful enterprises based on the potent combination of employee ownership and entrepreneurial spirit.

Dr. Beyster founded SAIC in 1969, and by the time he retired from the company in 2004 it had grown to Fortune 500® size, with more than 40,000 employees and annual revenues approaching $8 billion. Dr. Beyster firmly believed that the methods used to develop SAIC – employee ownership, shared entrepreneurship and participation – can make a real difference in the success of an enterprise and in the economic lives of people everywhere. From the very beginning, Dr. Beyster rewarded the performance of employees with stock ownership. As SAIC grew, Dr. Beyster fought to preserve the values that had made the early SAIC successful – not only employee ownership and entrepreneurship, but a flexible and decentralized organization structure, technical excellence, high standards of ethical conduct, and a firm belief in customer service.

Dr. Beyster retired from the company in 2004. In conjunction with his retirement, the Beyster Institute joined the Rady School of Management at the University of California, San Diego, a leading professional school within one of the top-ranked institutions in the U.S. for higher education and research.  Dr. Beyster passed away at his home in La Jolla on Dec. 22, 2014, leaving behind a legacy that continues to have a lasting impact on people, businesses, and communities across the face of our nation and around the globe.”

Source: The Beyster Institute, About Us


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