Using a leveraged ESOP to buy out a departing or retiring business owner is a strategy with considerable benefits for all involved. For the owner, it is a means to ‘cash out’ with potentially significant tax benefits. For employees, it creates a real ownership stake in the company. Transitioning Ownership in the Private Company illustrates the issues and decisions that are part of the complex leveraged ESOP process. It is written for entrepreneurs and business owners who may be contemplating an ‘exit strategy’ for their business.