Verit Advisors, a Chicago-based investment banking firm, was engaged by Contract Leasing Corporation to provide expertise in structuring an Employee Stock Ownership Plan (ESOP) transaction that optimized the Company’s and shareholders’ objectives. Contract Leasing Corporation has been in the business of semi-trailer leasing, sales and consulting for the past 25 years.

Michael Goor, Contract Leasing’s Founder, President and CEO commented, “When we decided that an ESOP transaction was our best strategy, we interviewed several advisors.  We selected Verit Advisors because of their depth of knowledge and interest in structuring the right deal for our company.  Mary and her team were extremely professional and diligent in helping us navigate through the complexities to meet our objectives.”

Verit Advisors’ team, led by John Solimine, collaborated with the Contract Leasing ownership and management team to custom design an optimal transaction based on Verit’s extensive experience with private business ownership transition.  John Solimine, founding member and Principal of Verit Advisors shared, “It was an honor for the Verit team to be a part of this successful transaction that optimized shareholder and Company objectives.  The ESOP transaction provides an excellent opportunity for the Contract Leasing employees to be a part of the continued success of the Company.”

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, mergers and acquisitions, and valuation services. Integrity, teamwork, service, and innovation are at the heart of the organization, as Verit strives to provide unparalleled advice and custom solutions to its clients. Mary Josephs founded Verit Advisors in 2009 and has nearly three decades of experience in the world of corporate finance. Josephs and her team are considered to be one of the foremost experts in ESOP transactions and middle market strategic alternatives. Verit has offices in Chicago, Minneapolis, and Los Angeles.

About Contract Leasing Corporation

Contract Leasing Corp. (CLC) is a leading trailer leasing, sales, and fleet management company.  Since its inception in 1991 our mission has been to provide our customers with the best value in trailer equipment and fleet management services. We forge long-term relationships through problem solving, innovation, and customer specific account management. Drawing on over one hundred years of industry experience, CLC’s team of dedicated professionals designs customized fleet management solutions for clients including, equipment specifications, procurement, life cycle strategy, fleet maintenance,  and analytics.