Tag Archives: Podcast

Episode 37 – ESOPs, Co-ops, and Bernie Sanders at the Vermont Employee Ownership Conference

The ESOP Podcast Episode 37 – ESOPs, Co-ops, and Bernie Sanders at the Vermont Employee Ownership Conference

In this week’s episode, we feature highlights from the Vermont Employee Ownership Conference, #VEOC18, held this year on Friday, June 8th, 2018 at the UVM Davis Center in Burlington, Vermont.

  • First, we are reminded that world of employee ownership is more than just ESOPs! Matt Cropp (Twitter: @MattCropp), Associate Director of the Vermont Employee Ownership Center, joins us to provide an excellent explanation of the concepts of Workers Cooperatives and their distinctive features from ESOPs.
  • Second, we have a Q&A on Senator Kirsten Gillibrand’s (D, NY) Pro-ESOP Bill, S. 2786, and its companion bill in in the House of Representatives, and discuss some of the issues these bills are designed to address.  We also discuss why employee ownership enjoys broad bipartisan support.
  • Finally, Cindy Turcot, COO of a 100% ESOP company, Gardener’s Supply, introduces Senator Bernie Sanders (I, VT) to the lunchtime conference attendees at #VEOC18.  We are pleased to be able to share Senator Sanders’ speech in full. [Thank you to Tabitha Croscut, Esq. of Devine Millimet (Twitter: @ESOPDiva) for this audio.]

You can watch a portion of Senator Bernie Sanders June 8th, 2018 speech on @CapTrusteesBret ‘s Periscope feed here.

“Senator Bernie Sanders speaking to @veoc_vt #veoc18”

Mentioned in this podcast:

  • As mentioned at the 1:34 mark in this podcast, you can listen to Episode 10 of The ESOP Podcast featuring Cindy Turcot COO of 100% Employee-Owned Gardener’s Supply Company here.
  • As mentioned at the 42:18 mark in this podcast, you can listen to Episode 3 of The ESOP Podcast and learn about ESOP Advocacy with Mike Shuey of Restek, Corporation here.
  • We couldn’t have produced this podcast without the audio provided by Tabitha Croscut, Esq. of Devine Millimet.  You can listen to her speak on Transactional Law for ESOPs in The ESOP Podcast Episode 25 here.
  • Please give a warm welcome to Capital Trustee’s Client Engagement Officerand podcast producer, Brian Keisling, on Twitter! You can now follow him at @CapTrusteesBri.

More about Vermont Employee Ownership Center

“The Vermont Employee Ownership Center is a statewide non-profit whose mission is to promote and foster employee ownership in order to broaden capital ownership, deepen employee participation, retain jobs, increase living standards for working families, and stabilize communities.

We provide information and resources to owners interested in selling their business to their employees, employee groups interested in purchasing a business, and entrepreneurs who wish to start up a company with broadly shared ownership.” [Source: About the Vermont Employee Ownership Center]

More about Matt Cropp

Matt Cropp is the Associate Director of the Vermont Employee Center. He is responsible for managing social media, event planning and promotion, and a variety of other tasks advancing the VEOC’s mission.


Subscribe!

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 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]


Subscribe!

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 Ep 33 – Women in ESOPs with Kimberly Jones, President of Butler/Till

The ESOP Podcast Episode 33 – Women in ESOPs with Kimberly Jones, President of Butler/Till

In this week’s episode, we are excited to share an #NCEO18 session that was, to our knowledge, a first of its kind at any national ESOP conference; we’re sharing the audio from the April 18th, 2018, NCEO “Workshop for Women in ESOPs” led by Kimberly Jones, who is the president of Butler/Till, an employee-owned media and communications agency based in Rochester, New York.  In this session, women in the ESOP community candidly discussed the challenges they face due to their gender in a traditionally male-dominated industry. The workshop was light-hearted and productive and is hopefully only the beginning of an ongoing conversation that will help keep the ESOP community dynamic and inclusive.

Tune into The ESOP Podcast Episodes 30, 31, and 32 for further coverage of presentations at #NCEO18, the National Center for Employee Ownership (NCEO) 2018 Annual Conference, held April 18-20, 2018 in Atlanta, Georgia.

“Awesome women’s event @theNCEO. Thank you Kim Jones @ButlerTill”

Photo and quote from Value Management, Inc. () on Twitter, 2:31 PM April 18th, 2018


More about Kimberly Jones and Butler/Till

Butler/Till

Source: Butler/Till

“Ms. Kimberly Jones serves as the President of Butler/Till Media Services, Inc and served as its Vice President of Digital Media and Vice President of Client Services. Ms. Jones is also an expert juggler—and we’re not talking tennis balls. Account teams. Creative service teams. Client needs. Client needs they don’t even know they need yet. A family. A Martha Stewart tendency. A to-read list a mile long. And she does it all effortlessly, with not a curl out of place. Before Butler/Till, Kimberly was at Bausch + Lomb, The Wolf Group (now Partners + Napier). She earned her MBA from the Simon School of Business at the University of Rochester, and her Bachelor of Science degree in Advertising from the University of Texas at Austin.” [Source: Bloomberg Profile.]

More about NCEO

The National Center for Employee Ownership “is a nonprofit membership and research organization that was founded in 1981 to provide the most objective and reliable information possible on employee ownership at the most affordable price possible.”  [Source: About NCEO]


Subscribe!

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 32 – Anatomy of a LIVE ESOP Transaction at NCEO18

The ESOP Podcast Episode 32 – Anatomy of a LIVE ESOP Transaction at NCEO18 

We kick off this episode of The ESOP Podcast with a conversation with Peter Alifaris of Pendo Advisors, LLC. He shares our goals in stepping through the “Anatomy of a LIVE ESOP Transaction” in today’s presentation; listeners will come away with a real understanding of the process that goes into negotiating an ESOP transaction.

Peter Alifaris , Rich Heeter, and Ed Renenger

Peter Alifaris , Rich Heeter, and Ed Renenger speaking with an audience member after presenting “Anatomy of a LIVE ESOP Transaction” at the Multi-state ESOP Conference in Scranton, PA on September 17, 2017.

We then share Peter Alifaris (Managing Director / ESOP Advisory Practice Leader at Pendo Advisors), Ed Renenger Renenger (co-chair of Stevens & Lee’s Employee Benefits and Executive Compensation Group), and Rich Heeter, (Principal and Managing Director at Captial Trustees) presenting “Anatomy of a LIVE ESOP Transaction” at the National Center for Employee Ownership (NCEO) 2018 Annual Conference, #NCEO18, in Atlanta, Georgia on Wednesday, April 18th, 2018 from 9:00 – 10:15 AM.

Click below to download the accompanying “Anatomy of a LIVE ESOP Transaction at NCEO18” slide show presentation:

Anatomy of a LIVE ESOP Transaction

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 Peter Aliferis and Pendo Advisors, LLC

Peter Aliferis presenting "Anatomy of a LIVE ESOP Transaction" at the Multi-state ESOP Conference in Scranton, PA on September 17, 2017

Peter Aliferis presenting “Anatomy of a LIVE ESOP Transaction” at the Multi-state ESOP Conference in Scranton, PA on September 17, 2017.

Pendo Advisors, LLC

“Peter is a finance professional with experience in fairness and solvency opinions, ESOP advisory services, valuations for estate planning and financial reporting purposes, leveraged buyouts, management buyout transactions, and private placements. Peter holds an MBA with concentrations in finance, economics, and accounting from DePaul University’s Kellstadt Graduate School of Business. Peter also holds a BSc in finance from DePaul University.”

[Source: NCEO18 Session biographies]

“Pendo Advisors, LLC (“Pendo”) which takes the name from the latin word “value” is a boutique investment banking services firm focused on providing institutional quality business valuation advisory and corporate finance solutions.

Our professionals offer a unique combination of experience to clients in the lower and middle markets by leveraging capital markets, business valuation, and transaction experience from $5.0 million in transaction size to Fortune 500 and $1.0 billion dollar private equity deals.

Pendo’s professionals are focused on providing business valuation services, transaction opinions, and corporate finance solutions to:

  • private and family-owned businesses;
  • public company boards;
  • ESOP (employee stock ownership plans) and ERISA
    fiduciaries;  and
  • asset managers including private equity/venture capital firms, business development companies (BDCs), hedge funds, SBICs, pension funds, and family offices.”

[Source: Pendo Advisors, LLC – About Pendo]

More about Edward C. Renenger and Stevens & Lee P.C.

Ed Renenger and Rich Heeter

Ed Renenger and Rich Heeter presenting “Anatomy of a LIVE ESOP Transaction” at the Multi-state ESOP Conference in Scranton, PA on September 17, 2017.

Stevens Lee Griffin Logo

“Ed is co-chair of Stevens & Lee‘s Employee Benefits and Executive Compensation Group. He assists companies in navigating the complexities of ESOPs, including advising business owners on how to sell their companies to employees through an ESOP. This process involves determining the feasibility of creating an ESOP and whether it accomplishes the stakeholder’s goals, structuring the design, implementing the transaction, then assisting with the ongoing administration and compliance.”

[Source: NCEO18 Session biographies]

“Founded in 1928, Stevens & Lee is a full-service law firm of 150 attorneys and 50 non-lawyer business and consulting professionals representing clients regionally and across the nation. We regularly handle some of the most complex and challenging transactions and litigation in the country for clients of all sizes in a number of industries.”

[Source: Stevens & Lee]

More about Rich 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.


Subscribe!

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 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]

 


Subscribe!

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 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.

Matt Hancock, Ed Wilusz, and Bret Keisling

Matt Hancock, Ed Wilusz, and Bret Keisling of Capital Trustees presenting “Improving the Bottom Line” at the Multi-state ESOP Conference in Scranton, PA on September 17, 2017.


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.


Subscribe!

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.


Subscribe!

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]


Subscribe!

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]


Subscribe!

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 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.


Subscribe!

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.