Prairie Funds Advisors acted as monetary advisor to StoneTek Imports, Inc. in the sale of the producing organization to an ESOP.
OAKBROOK TERRACE, IL – Prairie Capital Advisors, Inc. (“Prairie”), a primary center-industry investment bank, acted as monetary advisor to StoneTek Imports, Inc. (“StoneTek”) in the sale of the company to an employee inventory possession strategy.
Headquartered in New Bedford, Massachusetts, StoneTek is just one of the premier importers, suppliers and installers of organic stone and quartz counter tops in New England. With marketplace coverage that incorporates residential and business tasks for the wholesale field, StoneTek companions with overseas suppliers and community distributors to offer customers the widest assortment of premium normal stone and quartz merchandise, in addition to eco-welcoming possibilities that include pre- and write-up-customer recycled supplies, glass and concrete. StoneTek prides by itself on offering the very best collection, high-quality and assistance excellence in the purely natural stone business.
Prairie worked intently with the administration staff and sellers, giving advisory expertise and controlling the preparatory, thanks diligence and negotiation phases of the transaction as well as structuring the financing for the transaction. Conditions of the transaction were being not disclosed. “We are thrilled to establish an ESOP, which will allow for our workforce to reward from the upcoming progress of the corporation,” states Mario Ferreira, President of StoneTek. “We benefit our partnership with Prairie’s group. Their skills and steering were essential in structuring the right ESOP approach for our requirements.”
“After thinking about numerous ownership transition structures for StoneTek, it became apparent that the ESOP fulfilled almost all of Mario’s around and lengthy-expression aims,” commented Michael McGinley, Managing Director at Prairie. “Inviting workers to share in the benefit produced at StoneTek will further the company’s commitment to superior product or service quality and shopper service. It was a pleasure performing with the StoneTek workforce all over the whole transaction procedure,” added Henry Ventura, Director at Prairie.
About Prairie Capital Advisors
Prairie delivers expense banking, ESOP advisory, valuation advisory and money reporting valuations to help the development and possession transition approaches of middle-market place organizations. Headquartered in Oakbrook Terrace, Illinois, the enterprise is a top advisor to closely-held corporations nationwide. Prairie was named the 2020 Valuations & Fairness Thoughts Advisor of the 12 months by M&A Atlas. For far more information and facts, stop by www.prairiecap.com.