Verit Advisors Team Members Will Speak at the Employee Ownership Conference
Verit Advisors, a sponsor of the 2015 NCEO Employee Ownership Conference in Denver, April 21-23, 2015 will participate in multiple sessions. This annual conference is a premier gathering on employee ownership and over 1,300 attendees are expected.
Verit Advisors CEO, Mary Josephs, will moderate a panel on Tuesday titled “Advanced Capital Alternatives.” Josephs founded Verit Advisors in 2009 and has nearly three decades of experience in corporate finance. She is a nationally recognized leader and has advised structured and closed more than 200 financings for middle market companies. Ms. Josephs is a past two term board member of NCEO (National Center for Employee Ownership).
Also on Tuesday, April 21 Neal Hawkins will be a panelist discussing “Preparing Accurate Financial Projections for the ESOP Trustee and Appraiser.” This session will help attendees prepare for the most accurate and effective information for an appraisal. Mr. Hawkins joined Verit Advisors as Vice President in 2011 and has significant debt capital market and ESOP expertise. Mr. Hawkins works with private business owners on succession and transition alternatives which include the use of ESOPs, management buyouts, private equity transactions and mergers and acquisitions.
Rob Ruszkowski, Principal, will be a panelist discussing “Practical Governance Considerations in Selling to a 100% ESOP” on Tuesday. They will discuss available strategies that address a founder’s objectives post-closing, and how those strategies affect other terms, conditions, and considerations. Ruszkowski has a particular proficiency in sell-side M&A as well as ESOP transactions involving a diverse set of middle market companies. Ruszkowski also possesses substantial technical and analytical know-how following a distinguished career in chemical engineering.
On Wednesday, Kristin Ackerman, Senior Associate, will participate in a panel on “How to Optimize Your ESOP Transaction: Senior Lenders and Current Market Observations.” This session will explore how to approach and negotiate with senior bank lenders to get the best deals possible for your ESOP. Ms. Ackerman focuses her time on production, specifically financial modeling, pitch materials, offering memoranda and management presentations. Ms. Ackerman also has played an instrumental role in the founding and development of the ESOP Emerging Leaders group for young professionals in the industry.
Also on Wednesday, April 22, Stan Slabas, Senior Advisors will be part of a panel discussing opportunities for small business set-aside programs. Slabas is currently a member of the Board of Directors of S&C Electric Company, a Chicago based global provider of equipment and services specializing in electric power switching, protection and control. He retired from S&C after a 40 year career where he was S&C’s Senior Vice President and Chief Financial Officer and was instrumental in resolving challenging ownership succession issues, culminating in the establishment of an ESOP in 2007. He has been a Senior Advisor at Verit since 2013.
The final day of the conference, Thursday, April 23, Joe Alexander, Senior Advisor and Alex McVey, will be panelists that will discuss “The Life of Your ESOP: Decisions You Need to Think About.” Alexander had a 22 year career in the military followed by 20 years with Camber Corporation. At Camber, he became President and led Camber to become a 100% ESOP-owned company. Joe retired from Camber to start his own consulting business and become a Senior Advisor at Verit. Alex McVey, Senior Associate, focuses on valuation, financial modeling, company and industry research and pitch materials for a wide range of clients. He works on the execution team helping advise middle market companies on corporate finance solutions including mergers, acquisitions, recapitalization and ESOPs.
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.
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 mergers and acquisitions. 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.