On October 23, retirement industry professionals will gather in Washington DC for the annual conference of the American Society of Pension Professionals and Actuaries (ASPPA). Menke Group’s CFO and COO, Trevor Gilmore, will address the meeting on the topic of “ESOP Fables: Succeeding with a Powerful Succession Option”. An Employee Stock Ownership Plan (ESOP) is…
The Hawaiian Chapter of The ESOP Association is holding its first in-person event of the year on October 20 and the Menke Group will be there! Our Senior Corporate Counsel, Victor Alam, will be making two presentations at the conference in Honolulu: Current Issues Facing ESOP Companies Special Administration Issues Rebalancing, Reshuffling, Recycling, Diversification and…
Sept 15 / Oct 13 / Nov 17, 2022 — Phil DeDominicis will be presenting a webinar for my-cpe.com where he will give an ESOP overview for owners, CFOs & CPAs. This webinar provides a broad overview of ESOPs, discussing key topics such as using them as a business succession tool, how they are structured and financed, typical scenarios where they are used, and the tax differences and benefits between S corporation and C corporation ESOP-owned companies. Attendees will learn about who runs and controls an ESOP-owned business, how ESOP shares are valued compared to other sale options, and how employees can benefit personally and become more productive.
The ESOP Association 2022 Midwest Regional Conference is just around the corner, and Menke & Associates, Inc. is proud to be a bronze sponsor! This year’s conference will be held in Milwaukee, Wisconsin, from September 20-22nd. The conference will feature a variety of sessions on topics such as employee ownership, succession planning, and employee benefits.…
Syracuse, N.Y. — Eric Mower, who turned his Syracuse-based ad agency into one of the largest independent marketing communications firms in the country, has sold ownership of the company to his employees. The agency said Wednesday that Mower transferred 100% ownership of the company to a newly formed employee stock ownership plan. The agency’s executive…
FORT WASHINGTON, PA. & PROVIDENCE, R.I.–(BUSINESS WIRE)–Nautic Partners (“Nautic”) is pleased to announce that it has finalized the recapitalization of IT Solutions Consulting, Inc. (“ITS”), a market-leading managed information technology (IT) service provider servicing commercial clients throughout the northeast, in partnership with ITS management. Headquartered in Fort Washington, PA, ITS is a full-service IT services…
Employees are leaving their jobs at record rates. The Bureau of Labor Statistics reported that nearly 9 million Americans quit their jobs during the last two months of 2021 alone. Who among us has not had the experience recently of seeing a favorite local business with a sign in the window saying, “Sorry, we are…
Employee Stock Ownership Plans are sometimes viewed as only being a good fit for certain specific industries. Manufacturing businesses, for instance, make up roughly a quarter of all ESOP companies. Architecture, engineering, and construction firms have embraced ESOPs at an increasingly rapid rate and have seen a marked benefit, reporting a 35% higher median value…
If your business is based in Colorado and you are considering employee ownership as part of your succession plan, or simply as a way to reward the workers who have helped you get to where you are, the decision just became $100,000 easier. Governor Jared Polis announced that the CO Office of Economic Development and…
Menke & Associates was proud to assist George & Lynch, Delaware’s largest commercial construction company, with the installation of an Employee Stock Ownership Plan (ESOP) at the end of 2021. Headquartered in Dover, George & Lynch has been building critical infrastructure in and around Delaware since 1923, tackling projects ranging from roads and bridges to…
Convenience chain Wawa is one of the largest ESOPs in America. Now, a power ranking by Forbes has named them as one of the largest private companies in America, as well. Wawa ranked 29th, with a revenue of $11 billion and 38,000 employees, making them the largest privately owned company in Pennsylvania. Wawa ranked well…
In 2015, Menke & Associates, the nation’s premier full service ESOP firm, served as advisor in the design and implementation of an ESOP for Andesa Services, the leading provider of integrated, cloud-based solutions for life insurance and annuity carriers and providers. In 2020, Andesa completed the transition to 100% employee-ownership. And in 2021, Andesa demonstrated…
In October, 2021, Russell Bond & Co., Inc., a Buffalo, NY-based insurance wholesaler and longtime Menke client, announced that they had agreed to become part of Jencap Group, one of the largest insurance wholesalers in America. Gary Hollederer, President and COO of Russell Bond & Co., described the decision to join Jencap as being driven…
November 11th, 2021 — Menke Group Managing Director, Philip DeDominicis was recently featured on the How to Hardscape podcast in an episode, entitled, “Employee Stock Ownership Plans with Menke & Associates.” In the episode they outline how to give workers an ownership interest in a company — ESOP benefits, the kinds of companies employee ownership…
Nov 11, 02:00 PM EST — Phil DeDominicis will be presenting a free webinar, giving an overview on ESOPs for owners, CFOs & CPAs. Click Here to Sign Up The CPE/CE webinar qualifies for 2 credits and provides a broad overview of ESOPs with the following topics: Key topics discussed in this online CPE/CE course: Using…
ESOP companies are attractive to millennial workers because they offer benefits and a culture that fit what they are looking for. They provide powerful retirement savings at a time when perks that their parents may have enjoyed, like robust pension plans, are nearly impossible to find.
On September 9, 2021, Menke Group Managing Director of ESOP Advisory and Investment Banking Matthew Nels will be speaking at the Great Game of Business Conference in Dallas. His presentation entitled, How Business Owners, Management, and Employees Can Benefit from ESOPs, will explore the range of ownership transition options that business owners might consider, and…
The Menke Group is proud to congratulate longtime client Global Tax Management on their recent placement on the 2021 Inc. 5000 list. The Inc. 5000 is the definitive ranking of the fastest-growing private companies in America. GTM earned their position by posting 58% revenue growth over the last three years. Headquartered in Wayne, PA, Global…
One benefit of Employee Stock Ownership Plans (ESOPs) that should not go overlooked is how they can help companies grow. Not only are ESOPs powerful tools for recruiting and retaining top talent, but they also empower companies to make strategic acquisitions that help them become market leaders in their fields. ESOPs help companies make strategic…
On May 1st, 2021, Porterville, CA fruit growers Homegrown Organic Farms completed their transition to employee ownership with the implementation of an Employee Stock Ownership Plan (ESOP).
Many businesses like to say that their most valuable resource is their people. WestLand Resources, Inc.’s (WestLand) Engineering & Environmental Services puts that belief into action. The Menke Group is proud to have assisted WestLand with their successful transition to 100% employee ownership through the creation of an Employee Stock Ownership Plan (ESOP) at the…
In a recent article in Forbes entitled, “The ESOP Revolution: Fighting Financial Inequality And Empowering The Working Class,” author Christopher Marquis examines the “transformative power of employee ownership” in combatting the massive wealth inequality in America. Marquis argues that businesses can claim to be “sustainable and socially responsible,” and may back up those claims with…
In a recent article published in the Harvard Business Review entitled “The Big Benefits of Employee Ownership,” Thomas Dudley, CEO and co-founder of Certified Employee-Owned, and Professor Ethan Rouen of Harvard Business School shared the results of a study based on a single question: what would happen if every American business became at least 30%…
MyPath, an employee-owned family of companies that provides comprehensive services to children and adults with physical and mental disabilities, has been named the ESOP Company of the Year by the Wisconsin chapter of The ESOP Association. Based in Oconomowoc, WI MyPath has over 2,000 employee-owners serving Wisconsin and Indiana. They have been 100% employee-owned since…
On May 7th, Menke Managing Director Phillip DeDominicis will be speaking at the Ohio Employee Ownership Conference to be held at Kent State University. Phil will be giving a presentation entitled, “Employee Owner Track: ABCs of ESOPs for ESOP Participants,” which will cover how to provide new employees with the essentials of what it means…
Architecture, engineering, and construction (AEC) firms with Employee Stock Ownership Plans outperformed traditionally-owned AEC firms in four out of six valuation categories, according to Zweig Group’s recently released 2021 Valuation Report of AEC Firms. These findings demonstrate how an ESOP can create wealth for employees and owners alike in these vital industries. Notably, the report…
If there is one lesson to be learned from the upheaval of the past year, it is the importance of having a succession plan in place. No one can anticipate all the challenges that could accompany a global pandemic or a sudden massive economic crash, but having a roadmap for keeping your business intact in…
Motorcycle manufacturer Harley-Davidson has announced that it will be issuing stock to 4,500 of its employees, including every one of its hourly factory workers. With this move, Harley-Davidson will become one of the most recognizable employee-owned companies in America. Harley-Davidson has suffered from falling sales in recent years. Giving so many workers an ownership stake…
The Menke Group is proud to welcome Senior Benefits Consultants Michael Dee, MBA, QKA and Jessica Quaday, QKA to our Annual Administration team. Accurate, reliable, and efficient recordkeeping is the backbone of a healthy ESOP, and our team of highly trained and experienced administrators are here to handle any ESOP recordkeeping challenge. Mr. Dee and…
President-Elect Joe Biden has signaled his intentions to promote employee ownership during his administration through the nominations of two vocal proponents of Employee Stock Ownership Plans to critical positions: Marty Walsh for U.S. Secretary of Labor and Isabel Guzman to head the Small Business Administration. The Menke Group joins the ESOP Association in expressing our…