Journey to an ESOP & Beyond
Jason Miller & Makenzie Wirth
ESOPs are gaining traction. In the "Journey to an ESOP & Beyond” podcast, Doeren Mayhew's Jason Miller and Makenzie Wirth explain the process of the ESOP transaction and address ESOPs from a business owner's perspective. They illuminate the simplicity of ESOPs and debunk common misconceptions that ESOPs are immensely costly and complicated.--“Doeren Mayhew" is the brand name under which Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC and its subsidiary entities provide professional services. Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC (and its subsidiary entities) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. Doeren Mayhew Assurance is a licensed independent CPA firm that provides attest services to its clients, and Doeren Mayhew Advisors, LLC and its subsidiary entities provide tax and business consulting services to their clients. Doeren Mayhew Advisors, LLC, DM Payroll Solutions, Doeren Mayhew Capital Advisors and their subsidiary entities are not licensed CPA firms.
Episodes
Mentioned books
May 7, 2021 • 41min
EP15 - Taken- selecting the right advisor for your ESOP.
This episode outlines the roles as responsibilities of multiple advisors along your journey to an ESOP. There are insights into selecting the right advisor for your situation and general tips on qualifying them to support you in the short and long term as well as help you avoid possible pitfalls.
May 2, 2021 • 39min
EP14 - Why ESOP culture makes a difference! Discussion with Daniel Goldstein from Folience - a portfolio of ESOP companies.
In this episode - Daniel and I discuss the particular benefits of an ESOP to the employees - he does a great job of explaining their ESOP culture at Folience and the remarkable story of integrating other ESOP companies into Folience. This episode also digs into the reality of how ESOPs make a difference for all of our communities!
Apr 23, 2021 • 38min
EP13 - You wanted to be a banker - financing your ESOP transaction.
How much cash can you get at closing? This episode provides some insight into how to approach the bank for financing as well as my own research in discussions with over 100 bankers in the last twelve months regarding their approach to financing ESOPs.
Apr 16, 2021 • 43min
EP12 - Discussion on second stage ESOP transactions with James Bristol and Sean Sullivan with Waller Law Nashville, TN.
In this discussion, ESOP attorneys James Bristol and Sean Sullivan walk out the background behind redemption versus sale of stock to ESOP typically used in second stage ESOP transactions supporting a partial ESOP sale strategy. This connects well with Episode 11 regarding the Department of Labor topic.
Apr 9, 2021 • 26min
EP11 - Pearl Harbor - DOL invasion for an ESOP transaction with redemption versus sale
This episode delves into the DOL (department of labor) investigating ESOP transactions to help understand the potential structure of an ESOP transaction using redemption of stock versus the sale of stock to the ESOP.
Mar 31, 2021 • 32min
EP10 - Interview with Nick Francia with UBS regarding the 1042 transaction.
This episode covers the details of a 1042 transaction through a discussion with Nick Francia at UBS - we cover the floating rate notes and leveraging the qualified replacement property with either an active or passive investment strategy.
Mar 26, 2021 • 29min
EP9 - Braveheart - Control vs. Non-Control affecting your ESOP transaction.
In this episode we discuss the issues related to control versus non-control - in other words what portion of the company are you selling. If the ESOP purchases something less than control - than there will likely be a reduction in the valuation.
Mar 16, 2021 • 29min
EP8 - Flexibility of structuring an ESOP for your succession plan. Interview with Pete Profumo at Braden Kitchens, Inc 100% ESOP
Pete Profumo, former owner of Braden Kitchens, Inc., discusses the flexibility of using an ESOP for succession planning. Topics include work ethic, motivations for ESOPs, challenges in establishing an ESOP, valuation decisions, and navigating the transition from owner to employee.
17 snips
Mar 8, 2021 • 35min
EP7 - ESOPs for contractors - discussion with Michael Strahan of KPS Bonds out of San Diego CA.
Michael Strahan, a bonding expert, discusses ESOP transactions for contractors. Topics include structuring ESOP deals for bonding, government certifications, and personal indemnity. Insights on transitioning to an ESOP, managing debt, communication with surety companies, and importance of pre-qualifications in bonding.
46 snips
Feb 25, 2021 • 46min
EP6 - ESOPs for Contractors discussion with Ben Wells - ESOP attorney Cincinnati, OH
ESOP attorney Ben Wells discusses the benefits of ESOPs for contractors, including structuring deals, assessing flexibility and profitability, and transitioning leadership in a company. The podcast explores the national reach of ESOP practice and the importance of involving stakeholders early on.
