National Van Lines, Inc.
How National Van Lines retained its culture and success through employee ownership, guided by the ESOP advisory services of Verit Advisors.
As National Van Lines’ ESOP CEO Maureen Beal Nears Retirement, She Sits for an Interview with Mary Josephs
For nearly a decade, I have had the pleasure of knowing and working with Maureen Beal, the third-generation owner and chairman and CEO of National Van Lines, the national company whose brand is synonymous with “moving.” Maureen, who began as a teen switchboard operator at the company and then in 1993 took the helm after … Read More
The Better Exit Strategy: ESOPs Satisfy Business Owners And Preserve Their Legacy
On Chicago’s North Side, decades after other manufacturing companies went bust, migrated to the South or outsourced everything to China, S&C Electric – a $700 million-a-year maker of equipment for utilities – stood independent, profitable and debt free. Then, its controlling stockholder, John C. Conrad, died at age 89, and like so many family companies … Read More
A Piece of the Pie? The Effects of Familial Control Enhancements on the Use of Broad‐Based Employee Ownership Programs in Family Firms
While family firms tend to be highly committed to their employees, scholars contend that founding family owners are likely hesitant when it comes to sharing ownership broadly with non-family employees. Taking a heterogeneous view of family firms, this study investigates the implications of different familial control‐enhancing mechanisms on the use of broad‐based employee ownership programs … Read More
Using an ESOP to Liquidate a Portion of the Value of a Family Business
Technically, an ESOP is a retirement plan and serves the purpose of accumulating retirement savings for the company’s employees. In practice, however, they can act as a cash buyer of private company stock, thus creating a source of liquidity for the company’s owners.
Client Profile: Coast Citrus Distributors
At Coast Citrus, the employees are eligible to participate in the ESOP after completing 500 hours and/or three months of service. Currently the company is 70 percent employee owned.
Ottawa Devices, Inc. (B)
The Rollins family assembly was meeting to choose between several business strategies, including an employee stock ownership plan.
Davey Tree Stands Tall with Employee Ownership
Over 25 years, The Davey Tree Expert Company’s employee owners built a good small company into one of the premier companies in its industry, with an entrepreneurial zest for new products and acquisitions. The company’s development would have pleased its inventive founder and provably surprised the family members who sold it to hesitant employees in 1979.
An Assessment of Employee Ownership in the United States With Implications for the EU
There is a significant gap in the incidence and development of employee ownership between the European Union (EU) and the US when both sectors are examined.
Corbin Motors
Explores the raising of capital to finance the growth of a spinoff business from Corbin-Pacific, a leader in motorcycle accessories.
Practice Note: Questions and Answers Regarding ESOPs for Family Businesses
Assessing the applicability of employee stock ownership plans for a family firm requires a basic understanding of their characteristics, followed by a careful analysis of the costs and benefits in the specific case. This note provides general information and offers guides for the critical, specific questions an adviser or owner should ask.