Chicago-Based Verit Advisors Completes ESOP Transaction for MorganFranklin Consulting
Verit Advisors, a Chicago-based investment banking firm, was engaged by MorganFranklin Consulting to provide expertise in structuring an Employee Stock Ownership Plan (ESOP) transaction that optimized the company’s and shareholders’ objectives. MorganFranklin, a leading business consulting and technology solutions firm based in McLean, VA, announced the sale of the company to a 100% ESOP owned S-Corp.
“I am thrilled to usher in this new era at MorganFranklin through our Employee Stock Ownership Plan, and I want to thank the talented experts at Verit Advisors for their invaluable support in completing this process,” said C.E. Andrews, CEO of MorganFranklin. “People are the core of our business and the consulting profession, and it is extremely important to us that we reward our employees for their passion and steadfast dedication to client service by connecting their everyday work to a higher purpose while also retaining our unique people- and client-focused culture. With our ESOP, MorganFranklin is writing a new chapter and redefining management consulting and what it means to put employees first.”
Verit Advisors’ team, led by Rob Ruszkowski, collaborated with the MorganFranklin ownership and management team to custom design an optimal transaction based on Verit’s extensive experience with private business ownership transition. “It was a pleasure for the Verit team to work with the outstanding leadership team at MorganFranklin to ensure the vision and legacy of the founders,” stated Ruszkowski, Principal at Verit Advisors. “The ESOP ownership structure has positioned the company to capitalize on its strategic opportunities and embark on a new chapter in its history.”
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 MorganFranklin Consulting
MorganFranklin is a strategy and execution-focused business consulting firm and professional advisor. The company provides strategic thinking and hands-on support to help public companies, fast-growing private companies, and government clients manage growth and maximize performance. The firm delivers strategy, accounting and transaction services, risk and compliance, and information management and technology solutions. MorganFranklin is headquartered in the Washington, D.C., area and has supported clients in North and South America, Europe, Asia, and the Middle East. www.morganfranklin.com
MorganFranklin Consulting is the brand name referring to the global organization of MorganFranklin, Inc. and its subsidiary MorganFranklin Consulting, LLC.