Since 1974, Menke has structured over 4,000 ESOPs, the most by any single organization.
We design and install ESOPs for companies with as few as 10 employees and as many as 10,000 employees.
We provide all the services needed to design and install an ESOP, including Structuring, Legal & Tax Compliance, Valuation, Documentation, Debt Capital Raising (if required), Employee Communication, and Administration.
John D. Menke
When a second-generation construction company reaches a crossroads, the decision isnāt just financial ā itās personal. Legacy Utility Group faced a choice many founder- and family-led companies eventually confront: sell to private equity or design a long-term ownership solution that protects culture, rewards employees, and preserves independence. In this conversation, Dave Jaeger, CEO of Legacy…
Donāt miss this opportunity to discover how ESOPs can align your business goals with the needs of employees and stakeholders.
A candid conversation with ESOP experts Ben Spadt and Trevor Gilmore covering financing, valuation, compliance, succession planning, governance, employee ownership culture, and the biggest factors that determine ESOP success. Video Transcript Introduction to ESOPs & The Menke Group0:04Hello and thanks for joining us.0:05I’m Ben Spadt with the Menke Group.0:07And I’m here with Trevor CEO of…
In a powerful bipartisan moment for worker-ownership advocates, the U.S. Senate Health, Education, Labor & Pensions (HELP) Committee voted unanimously on July 31 to advance two major bills promoting and protecting Employee Stock Ownership Plans (ESOPs): the Retire Through Ownership Act (S. 2403) and the Employee Ownership Representation Act (S. 1728). Together, these bills represent…
Update (July 31, 2025): The Senate HELP Committee has now unanimously passed the ESOP bills discussed in this hearing. [Read the follow-up here ā] On July 24, 2025, the Senate Committee on Health, Education, Labor, and Pensions (HELP) convened a powerful and bipartisan hearing under the banner: āEmpowering Workers by Expanding Employee Ownership.ā With support…
And the Senate Follows Up With a Powerful Push to Expand Employee Ownership Washington, D.C. ā July 22, 2025ā This week marked a historic moment for the employee ownership movement. On Tuesday, the House Education and Workforce Committee held a hard-hitting oversight hearing scrutinizing the Department of Laborās Employee Benefits Security Administration (EBSA) for what…
Patricia Hetter Kelso (nee Bertsche), pioneering champion of democratic capitalism, died peacefully in her San Francisco home on Independence Day, July 4, 2025, at age 98. Born in Anderson, Indiana, Patricia dedicated her life to the development and advancement of Binary Economics, a revolutionary economic theory that aims to achieve universal capitalism. After earning degrees…
On June 11, 2025, Oregon made history for employee ownership. Governor Tina Kotek signed House Bill 3646 into law, creating a formal preference in public procurement for companies that are majority-owned by their employeesāeither directly or through an Employee Stock Ownership Plan (ESOP). Starting in 2026, Oregon state agencies will be able to give these…
In a rousing keynote address to The ESOP Association, newly confirmed Secretary of Labor Lori Chavez-DeRemer signaled a sea change in federal policy toward Employee Stock Ownership Plans (ESOPs). Her remarks marked the strongest pro-ESOP stance from a sitting Labor Secretary in recent memoryāand possibly ever. Secretary of Labor Lori Chavez-DeRemer at The ESOP Association’s…
Big news is brewing in Washington that could reshape the landscape for ESOP-owned companies The Employee Ownership Fairness Act of 2025, recently introduced in Congress, proposes substantial increases in ESOP contribution limits and ESOP participant allocation limitsāchanges that would be wholly positive for companies, owners, and employee participants alike. The proposed Employee Ownership Fairness Act…
Campbell, CA – M-Group, a leading urban planning firm in the San Francisco Bay Area, has transitioned to an Employee Ownership Model (ESOP) with the guidance of The Menke Group, America’s leading ESOP advisory firm. This transition secures the company’s future, rewards employees for their contributions, and ensures long-term stability for its customers and community.…
How Employee Ownership Secures the Future for Legacy Utility Group Legacy Utility Group, a premier infrastructure contractor based in Roseville, California, has made a transformational shift to employee ownership by establishing an Employee Stock Ownership Plan (ESOP). This strategic move not only secures the companyās long-term future but also empowers its workforce, reinforcing a culture…
Free 90-Minute Webinar for Business Owners, CFOs & Advisors
Strong companies are using ESOPs to play offense. With rates stabilizing and talent still tight, employee ownership is delivering a durable edge:
Bottom line: ESOPs create a rare wināwināwināfor owners, the business, and employees.
ESOP 101āModern Playbook
How ESOPs work in 2026, who qualifies, deal structures, and timelines.
Tax Strategies that Change the Math
Capitalāgains deferral, corporate tax reduction/elimination for SāCorp ESOPs, deductible contributions, and cashāflow modeling.
Talent & Culture
Retention without acrossātheāboard raises; ownership communications that actually move the needle.
Protecting Margins
How ESOP incentives can offset cost inflation and support reinvestment.
Valuation & Financing in Todayās Market
Bank/seller notes, mezzanine options, rate considerations, and why ābankable ESOPsā are closing now.
Governance & Control
Board, trustee, and management rolesāwhat really changes (and what doesnāt).
Business OwnersĀ planning an exit, partial sale, or recapitalization
CFOsĀ evaluating capital structure and tax strategy
Advisors & Succession PlannersĀ guiding ownerāled companies
HR & ESOP Committee MembersĀ building engagement around ownership
āI came in skeptical. I left with a concrete roadmap and the math to brief our board.ā
āThis clarified our exit plan and showed how we can reward employees at the same time."
Phil DeDominicisĀ is an ESOP strategist and M&A advisor who has guided 300+ companies through ESOP formations, financing, and transactions overĀ 20+ years at Menke & Associates. He specializes inĀ selling ESOPāowned businessesĀ to financial or strategic buyers and inĀ helping ESOP companies acquire other businesses.
Before Menke, Phil spentĀ 14 years in investment banking M&AĀ atĀ Morgan StanleyĀ andĀ Salomon Smith Barney, advising middleāmarket companies on changeāofācontrol transactions. He holds aĀ B.S. in Chemical EngineeringĀ from theĀ University of DelawareĀ (1985) and anĀ MBA in Finance & AccountingĀ fromĀ UCLA AndersonĀ (1989). Phil currently serves onĀ six forāprofit and notāforāprofit boards.
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10:00AM – 11:30AM PT
11:00AM – 12:30PM MT
12:00PM – 1:30PM CT
1:00PM – 2:30PM ET
No cost. Suitable for companies with $5Mā$500M+ in revenue across construction, manufacturing, services, distribution, tech, and more.
Do I lose control?Ā Noāmost ESOPs preserve dayātoāday control with your leadership team and board.
Is this only for certain industries?Ā ESOPs work across sectors when cash flow is stable and leadership continuity matters.
Can we do a partial sale?Ā Yesāstage liquidity over time while capturing tax benefits.