Verit Advisors®, a Chicago-based investment banking firm, was engaged by Tecolote Research to structure their partial ESOP to 100% ESOP transaction. Verit provided expertise in ESOP structuring, valuation and debt capital markets. Tecolote Research is based in Santa Barbara, CA and provides decision support, program management, project controls, and software solutions.

James Takayesu, President/CEO of Tecolote Research noted “The Verit Advisor Team professionally quarterbacked our transaction to a successful on-time completion despite the impact of the COVID-19 Pandemic. Verit’s detailed analyses facilitated communication among all parties and brought value added support to the Tecolote Board of Directors and the selling shareholders by ensuring a full understanding of alternatives and business impacts throughout the process.  A clear discriminator for the Verit Team was the quality of the “A-Team” brought to the table by Mary Josephs and Jake Cravens.”

Verit Advisors’ team, led by Jake Cravens, Principal, added “A significant amount of time, effort, and care was spent on ensuring that the final transaction structure would balance the interests of the employee owners and the sellers and continue to support a sustainable employee ownership structure. The transition to being 100% ESOP-owned was a great extension of Tecolote’s core values and its commitment to employee success.”

About Verit Advisors®

Verit Advisors unites sophisticated investment banking capabilities with a client centric boutique, fluent in ESOPs, debt 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.  Josephs and her team are considered to be one of the foremost experts in ESOP transactions and middle market strategic alternatives.

About Tecolote Research

Tecolote began as a two-person company operating out of a small office in Santa Barbara and has grown to over 650 people with over 25 locations nationwide. Tecolote has been in business over 47 years providing professional services focused on cost/schedule research, analysis, decision support, data analytics, and software development.  Repeat clients represent 90 percent of their business, and they maintain longstanding support relationships with organizations throughout the U.S. Department of Defense (DoD) and other Federal Government Agencies.