Director Mario O. Vicari was recently interviewed for an article in the Philadelphia Inquirer about the benefits of an Employee Stock Ownership Plan (ESOP) for private companies.
Many private company owners are thinking about succession planning. While they may consider selling the business to private equity, a competitor, or other third party, these options may not feel like the right fit for the business or its employees. One increasingly popular alternative is to sell the company to employees via an ESOP plan. As Vicari noted in the article, “ESOPs have become a terrific option for selling a business. They don’t fit every circumstance, but they can be a really great transfer vehicle for a private owner.”