Addison Smith Mechanical Contractor Transitions to 100% ESOP Ownership

OAKBROOK TERRACE, IL — Prairie Capital Advisors, a middle-market funding financial institution specializing in possession transitions and strategic transactions, served as monetary advisor to Addison Smith Mechanical Contractor, Inc. in its transition to a 100% worker inventory possession plan (ESOP).

Prairie acted as unique monetary advisor to Addison Smith and its promoting shareholder within the transaction, which was led by Franco Silva and Harsh Patel of Prairie. Monetary phrases weren’t disclosed.

Mechanical Contractor Builds Lengthy-Time period Possession Technique

Based mostly in Carrollton, Georgia, Addison Smith Mechanical Contractor serves industrial, industrial, healthcare and institutional development markets. Based in 1954, the corporate gives pre-construction and development providers together with HVAC methods, course of piping, plumbing, constructing automation, and ongoing service and upkeep.

The transition to a 100% ESOP construction positions the corporate to take care of its long-standing tradition whereas creating an possession alternative for workers.

Advisory Help Via ESOP Structuring and Financing

Prairie labored intently with Addison Smith’s management staff and the promoting shareholder to information the ESOP transaction from preliminary preparation by way of closing. The agency supplied advisory help throughout due diligence, negotiations and transaction structuring, together with arranging financing for the ESOP.

“I wish to prolong my honest appreciation to Prairie Capital Advisors for his or her excellent experience and management all through our 100% ESOP transaction. Their staff supplied clear steering, strategic perception and regular help from begin to end, guaranteeing a clean, seamless and profitable transition. Their professionalism and deep understanding of ESOP constructions gave us confidence at each step. We extremely worth their partnership and stay up for a seamless affiliation with the Prairie Staff,” stated Tim Brewer, Chief Government Officer of Addison Smith.

Preserving Firm Tradition Whereas Supporting Future Development

Worker possession constructions are sometimes used within the development and contracting sector to help possession succession whereas sustaining operational continuity and firm tradition.

“We’re proud to have suggested Addison Smith on its transition to a 100% ESOP owned firm. This transaction gives liquidity to the vendor whereas preserving the Firm’s tradition, management staff, and long-term strategic imaginative and prescient. Addison Smith is exceptionally well-positioned to thrive as an ESOP, and this milestone marks one other profitable ESOP development transaction for Prairie,” added Franco Silva, Managing Director at Prairie.

Harsh Patel, Vice President at Prairie, additionally commented, “We had been honored to advise the shareholder on this profitable transition to worker possession. The Firm’s dedication to its individuals and long-term legacy made for a rewarding engagement, and we’re assured that worker possession will gas continued success and shared worth for years to return.”