Verit Advisors Completes Transaction for Stacy Witbeck
Verit Advisors®, a Chicago-based investment banking firm, was engaged by Stacy Witbeck to provide a comprehensive strategic alternatives analysis and support the execution of a 100% ESOP transaction. Verit provided expertise in ESOP structuring, valuation and debt capital markets. Stacy Witbeck, based in Alameda, CA, is a full-service contractor that can manage, and self-perform, the entirety of heavy civil infrastructure projects, from start to finish.
Mark Schoendienst, Chief Financial Officer, Stacy Witbeck stated “I was completely satisfied with Verit Advisors. They provided quality advice and exceptional project management for our 100% ESOP journey. Our Verit Advisors team was a pleasure to work with – couldn’t imagine not having them with us on this project. I would not hesitate to engage them in future projects.”
Verit Advisors’ team, led by Jake Cravens, Managing Director, added “The transition to being 100% ESOP-owned was a great extension of Stacy Witbeck’s core values and its commitment to employee success. Verit is very proud to have worked so closely with the management team who spent a significant amount of time, effort, and care on ensuring that the final outcome would continue to support the company’s desire to remain independent while creating tremendous value for its employee owners.”
About Stacy Witbeck
Stacy Witbeck is one of the nation’s largest heavy civil contractors and a top builder of transit and transportation projects. They are recognized as a leader in managing and constructing complex projects while working collaboratively with project owners, designers, and stakeholders to successfully deliver projects. As experts in alternative project delivery methods, they have earned the reputation of being the “go-to” contractor for many agencies. They have experience in all aspects of construction including structures, track work, earthwork, utility work, systems, and systems integration. As an employee-owned company, they are not only invested in the success of our projects, but also the success of their people.
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.