Verit Advisors’ Solimine to Present at Huntsville Employee Ownership Conference
Verit Advisors, Managing Director, John Solimine will present at the National Center for Employee Ownership (NCEO) seminar titled “ESOP Nuts and Bolts: What You Need to Know About Employee Stock Ownership Plans” on Tuesday, June 6, 2017 in Huntsville, AL. This one day seminar is aimed at people thinking about an ESOP, but may also be useful as a review for people in ESOP companies who want to know more about how the plans work.
John Solimine will present on Financing Alternatives. Solimine leads Verit’s Debt Capital Markets’ efforts and the execution of both ESOP and non-ESOP transactions which focuses on sourcing, structuring and arranging various forms of debt or equity capital for Verit’s clients. He has over 15 years of experience in investment banking and debt capital markets, particularly with middle market companies and private equity sponsors in succession and liquidity transactions. Solimine has worked at LaSalle Bank (now Bank of America), Bear Stearns & Co. and Jefferies & Company, Inc.
Joe Alexander, a Senior Advisor for Verit, will also speak about his experience as President of Camber Corporation and how they became 100% ESOP owned. During the 12 years Joe served as President, Camber grew from 450 employees with $61M in annual revenue to over 2,300 employees with $440M in annual revenue in over 30 offices around the world. In addition, to his work at Camber, Alexander had a distinguished military career for over 20 years where he served in a variety of command and staff assignments.
For more information on the conference visit.
According to the NCEO, the first employee stock ownership plan (ESOP) was in 1956 and today there are about 10,900 ESOPs and equivalent plans employing more than 13 million employees in the U.S. ESOPs are spread throughout the nation and industries and range from just a few employees to more than 150,000 employees. Over a 10-year period, ESOPs have 25 percent higher job growth than comparable companies without an ESOP. These companies have 4 to 5 percent higher productivity in the year an ESOP is adopted. Employee ownership keeps businesses and jobs in state with ESOP companies 25 percent more likely to stay in business. The NCEO is a nonprofit organization, established in 1981, whose mission is to provide practical resources and objective, reliable information about employee ownership to businesses, employees, and the public.
About Verit Advisors
Verit Advisors unites sophisticated middle market investment banking capabilities with a client centric boutique, fluent in ESOPs, debt and equity capital markets, and M&A, transaction opinions and valuation services and board advisory services. Integrity, teamwork, service, and innovation are at the heart of the organization, as the Verit Team strives to provide unparalleled advice and custom solutions to its clients. Mary Josephs founded Verit Advisors in 2009 in Chicago and has nearly three decades of experience in the world of corporate finance. Josephs and her team are considered to be the foremost experts in ESOP transactions and middle market strategic alternatives.