ESOP Boot Camp, Part 8: Who Works for Whom in an ESOP Transaction?
Episode 8 breaks down ESOP roles, fiduciary duties, and who represents the seller and trustee in an ESOP transaction.
ESOP Boot Camp, Part 7: How an ESOP Transaction Actually Works
Discover how an ESOP transaction unfolds, from trustee selection and due diligence to negotiations and closing mechanics in Part 7.
ESOP Boot Camp, Part 6: ESOP Valuation Explained Simply
Learn how ESOP valuation works, from fair market value and cash flow analysis to trustee selection, due diligence, negotiation, and closing.
ESOP Boot Camp, Part 5: How ESOPs Are Financed
Learn how ESOP transactions are financed using outside bank loans and seller notes, plus key insights for owners, CEOs, and CFOs.
ESOP Boot Camp, Part 4: The ESOP Tax Advantage Explained
Discover ESOP tax advantages, including the Section 1042 rollover and S corporation benefits, and how they can reduce or eliminate federal income tax.
ESOP Boot Camp, Part 3: Why Owners Choose ESOPs ā and Why They Donāt
Explore why business owners choose an ESOP, weighing liquidity, legacy, partial exits, and when employee ownership isnāt the right fit.
ESOP Boot Camp, Part 2: Is Your Company a Good ESOP Candidate?
Discover the 5 key questions to decide if an ESOP is right for your business, from EBITDA and leadership to culture and industry fit.
ESOP Boot Camp, Part 1: What Is an ESOP? How Employee Ownership Actually Works
A plain-English introduction to ESOPs, explaining how employee ownership works and why companies use ESOPs for succession, liquidity, and long-term independence.
Why Brown Construction Chose a 100% ESOP Over a Third-Party Sale
Brown Construction CEO Ron Brown shares why he chose a 100% ESOP over a third-party sale and what the decision meant for succession, culture, and long-term independence.
The Top 10 Questions to Ask Before Implementing an ESOP
Trevor Gilmore and Ben Spadt walk through the ten critical questions business owners should ask before deciding whether an ESOP is the right succession and ownership strategy.
EBSA Ends the āWar on ESOPsā
On January 15, 2026, the U.S. Department of Laborās Employee Benefits Security Administration (EBSA) quietly did something the ESOP community has been asking forāloudlyāfor years. It changed course. In a major overhaul of its national enforcement projects for fiscal year 2026, EBSA removed Employee Stock Ownership Plans (ESOPs) from its list of national enforcement priorities.…
Senate HELP Committee Unanimously Passes Landmark ESOP Bills: A Victory for Employee Ownership
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…
Empowering Workers, One Share at a Time: Highlights from the U.S. Senate’s 2025 ESOP Hearing
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…
Congress to DOL: It’s Time to Shine a Light on EBSA’s Anti-ESOP Tactics
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…
Remembering Impassioned ESOP Advocate and Pioneer, Patricia Hetter Kelso (1927-2025)
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…
Oregon Just Passed a Landmark Law Giving ESOP Companies a Leg Up in Public Contracting
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…
Lori Chavez-DeRemerās Keynote: A Bold New Era for ESOP Advocacy at the Department of Labor
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…
The Employee Ownership Fairness Act of 2025: A Game-Changer for ESOP Companies and Their People
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…
M-Group Becomes Employee-Owned
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.…
Legacy Utility Group Transitions to Employee Ownership: A Win for Employees, Customers, and the 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…
Oliverās Market Becomes 100% Employee-Owned: A Commitment to Independence and Community
For CEOs exploring the transformative potential of Employee Stock Ownership Plans (ESOPs), the case of Oliver’s Market, a California-based grocery chain, offers an inspiring roadmap. Oliverās has long been a staple in Sonoma County, known for its commitment to local sourcing, exceptional customer service, and strong community ties.ā Oliverās began its ESOP journey in 2017…
Corovan’s Transformation to Employee Ownership
The Historical Evolution of Corovan Corovan’s journey from a small moving service to the largest commercial mover in the Western United States is a testament to its adaptability and forward-thinking strategies. Founded in 1948 by Richard T. Schmitz, Corovan initially offered residential moving services. By 1955, it expanded its horizons by becoming an agent for…
A Fireside Chat with Ringland-Johnson
As part of The Menke Groupās fiftieth anniversary celebration, our CEO, Trevor Gilmore, is holding a series of virtual āfireside chatsā with our clients to discuss their ESOP journeys. Brent Johnson, CEO of Ringland-Johnson, shared his insights recently. Ringland-Johnson is one of the top industrial and commercial construction firms in the Midwest with a history…
Management Buyout (MBO) Strategies
A practical guide for owners & managers weighing a management-led acquisition This Menke guideāauthored by Phillip DeDominicis, Managing Director (Investment Banking)āexplains how to evaluate, finance, and execute a management buyout (MBO), including when to consider an ESOP in the mix. Youāll learn what qualifies a company for an MBO, how to value the business, how…
Strategies for Selling to a Third Party
How to run a disciplined, value-maximizing sell-side process Thinking about a third-party sale? This Menke guide walks owners and boards through a structured, multi-round process that protects confidentiality, keeps bidders competitive, and maximizes certainty of close. Youāll learn how to prepare, market, negotiate, and closeāwhile selecting the deal structure (asset vs. stock vs. merger/Ā§338(h)(10)) that…
ESOPs for Automobile Dealerships
Drive Ownership, Retention, and Long-Term Growth In this webinar, John Menke, President of Menke & Associates, and Phil DeDominicis, Managing Director and ESOP investment banker, discuss how Employee Stock Ownership Plans (ESOPs) help automobile dealers achieve liquidity, succession, and growthāwhile keeping the business locally owned and tax-efficient. For over 50 years, Menke & Associates has…
ESOPs for Architectural & Engineering Firms
Align ownership with your peopleāwithout losing control In this webinar, John Menke and Chuck Bachman (ERISA attorney & CPA) explain how Employee Stock Ownership Plans (ESOPs) help A/E firms solve succession and liquidity while preserving independence, motivating talent, and unlocking substantial tax benefits. ESOPs create an internal market for shares, let founders diversify, and turn…
ESOPs for Banks and Thrifts
Liquidity, Capital Strength, and Ownership Continuity In this webinar, John Menke and Victor Alam (ERISA attorney) explain how banks and thrifts can use Employee Stock Ownership Plans (ESOPs) to solve shareholder liquidity, strengthen capital, retain control, and improve employee alignmentāwhile leveraging unique tax advantages. https://www.youtube.com/watch?v=zhV8hoHJYcU See Video Transcript 0:00in the chat section and you can…
ESOPs for Government Contractors
Secure Ownership, Continuity, and Tax Efficiency In this in-depth webinar, John Menke, President of Menke & Associates, and Victor Alam, ERISA attorney and Senior Counsel with the firm, explain how Employee Stock Ownership Plans (ESOPs) can help government contractors achieve ownership transition, liquidity, and tax efficiencyāall while maintaining management control and workforce stability. Menke &…
ESOPs for Wholesalers and Distributors
Building Ownership, Continuity, and Growth In this informative webinar, John Menke, President of Menke & Associates, and Rick Rose, Managing Director, discuss how Employee Stock Ownership Plans (ESOPs) help wholesalers and distributors achieve succession, liquidity, and tax-efficient growthāwhile engaging employees as true stakeholders in the companyās success. For over 50 years, Menke & Associates has…