EP26 - Interview With An ESOP Trustee - Bryce Lenox Out Of Cincinnati OH. Journey To An ESOP & Beyond podcast

43:10

As the podcast discussed at the beginning of the new season- we wanted to give a strong overview of the Third-Party Administrators (TPAs) role in the ESOP. On this episode, the podcast interviews Tom Roback with Blue Ridge. The episode looks at the trends in the ESOP community and the consolidation of TPA companies. We look to answer what challenges with TPA firms are currently being experienced and how TPAs (particularly Blue Ridge) are looking to overcome those to provide a strong partnership with their clients. Tom does an excellent job walking through a a various list of topics - this should be a helpful podcast episode along your journey to an ESOP.…

Journey to an ESOP & Beyond

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EP12 - Power Rangers - Roll Up Strategy for ESOPs 36:32

26 days ago36:32

36:32

Power Rangers are an excellent example of strength in combining multiple superheroes on one team. On this episode we consider: What is your company worth? What happens when we combine it with another then another? The value could significantly change for better multiples and for multiple reasons. One of those would be a larger combined EBITDA with a reduction in redundant expenses. Another could be the risk profile is reduced given larger geographic and higher diversification of revenue. Whether you sell to an ESOP or another buyer, through this podcast episode we discuss the multiple reasons to consider this approach.…

Journey to an ESOP & Beyond

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EP11 - Sustainability for Contractor ESOPs - Interview With Kevin Birch Regional Manager with CNA Surety 55:56

6 weeks ago55:56

55:56

In this episode, we sit down with Kevin Birch, Regional Manager at CNA Surety, to explore best practices for contractor ESOPs. A key theme throughout our conversation is communication —and lots of it. One of the biggest mistakes a contractor can make is surprising their surety with news of an ESOP transaction. Kevin strongly recommends that contractors—whether general or specialty—get their surety agent and company involved early in the process. Doing so allows the proposed ESOP structure to be reviewed and vetted, ensuring buy-in from your surety partner. Throughout the podcast we discuss how critical it is to present models that illustrate valuation, cash flow projections, debt structure, and pro forma balance sheets. These elements are essential for the surety to properly underwrite the transition and help avoid issues with your bonding line after the ESOP is in place.…

Journey to an ESOP & Beyond

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EP10 - Band of Brothers - Employee Centric Cultures For ESOPs 40:22

8 weeks ago40:22

40:22

The show “Band of Brothers” offers a perfect example of leadership from the character of Captain Sobel and provides examples of overcoming obstacles to establish a strong culture. Specifically, the show provides an example of an employee-centric culture: a culture that embodies a solid group of employees ultimately banding together. This episode covers the 5 c’s of an employee-centric culture: Commitment; Care; Celebration; Communication and Community. The topic might be helpful to assess wherever you are in your journey to an ESOP as you build, improve, or sustain the culture of your business.…

Journey to an ESOP & Beyond

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EP9 - ESOPs and The Economy - Interview with Chris Cucci - Climate First Bank 41:06

10 weeks ago41:06

41:06

In this episode the podcast discusses the recent uncertainty with the economy and how this effects the ESOP world. Considering this, the podcast interviews senior level banker Chris Cucci with Climate First Bank. Chris’ bank does financing for ESOP deals all over the United States, providing valuable perspective on ESOP financing credit decisions in light of the first quarter of 2025. While the future of recent economic events in unpredictable, the important take away from this episode is to build your ESOP around the ability to flex with any changes in the economy.…

Journey to an ESOP & Beyond

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EP8 - Knowing: Warrants and SARs for ESOPs 40:31

12 weeks ago40:31

40:31

This episode provides the background on both Warrants and SARs in an ESOP transaction. The typical usage of synthetic equity structured within a deal can create a solid win-win for the shareholders and the company. Within the topic, the podcast uses the Nicolas Cage film “Knowing” as an example to explain how a warrant and SAR model help to predict the future just like so that we can create a lasting legacy for the company and a successful reward for those that are taking on the future risk of the enterprise.…

Journey to an ESOP & Beyond

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EP7- ESOP Experience Industrial Supply Company (ISCO) with Jason Ireland, President 38:39

14 weeks ago38:39

38:39

On this podcast episode we interview Jason Ireland, President of Industrial Supply Company (ISCO), a distributor of manufacturing parts who went 100 percent ESOP last year. Jason explains the step by step process their 100-year-old company went through to transition to an ESOP process. The company was part union and part non-union, providing some background for some companies dealing with that reality. There is even a ghost in this story…but he cannot be part of the ESOP (it’s an ERISA thing). We discuss the consensus building process with multiple shareholders and Jason’s future generation as part of the leadership to steer the company into the future of employee ownership making the employees part of this family.…

Journey to an ESOP & Beyond

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EP6 - Mad World of ESOPs - As Transactions Vary 43:45

15 weeks ago43:45

43:45

The Mad World of ESOPs! This episode reviews the roles ESOP professionals play and the reality of variance in one transaction to another. We discuss the differences in costs, approaches to structure, closings, and other areas given the backgrounds, perspectives and objectives in leading the transaction. This episode is intended to help orient the listener to questions they may want to ask on their journey to an ESOP.…

Journey to an ESOP & Beyond

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EP5 - Selling an Employee-Owned Company - Discussion with Greg Daugherty ESOP Attorney 46:52

18 weeks ago46:52

46:52

In some cases an ESOP company can choose to sell to an outside buyer after they transition to an employee-owned company. In this episode Greg Daugherty, Porter Wright and, I discuss the factors related to selling your company after it has become an employee-owned company. Greg does a great job of discussing how this process works and what business owners should know as it relates to the board of directors, trustees and, support related to selling the business.…

Journey to an ESOP & Beyond

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EP4 - Casino Royale - Taking Chips Off The Table - Partial ESOPs 39:59

19 weeks ago39:59

39:59

Arguably one of the best James Bond 007 movies - “Casino Royale” - is it time to get some chips off the table? This episode focuses on the motivations of why some companies look at doing a partial ESOP which is going to be accompanied by risk/reward decisions. Not as risky as going all in and hoping for the high hand. But a partial ESOP can still be the right strategy a lot of companies to determine if an ESOP works in both the short and long term, and for shareholders and employees. This may be your next step on the journey to an ESOP!…

Journey to an ESOP & Beyond

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EP3 - ESOP Interview with Jeff Forrestall from Forrestall CPAs to discuss ESOP Financing and Tax Planning 48:30

20 weeks ago48:30

48:30

Journey to an ESOP and Beyond continues to bring perspectives that can challenge conventional thinking and at the least provide the listener with questions for their advisors. Jeff Forrestall, CPA provides a good overview of the changes in SBA ESOP financing as well as a compelling forward planning model to leverage the C Corp opportunity beyond 1042.…

Journey to an ESOP & Beyond

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EP2 - Meet Joe Black - Death and Taxes - 453a Tax Issue Related to Seller Note and Capital Gains Tax 21:00

22 weeks ago21:00

21:00

This episode takes advantage of the classic film “Meet Joe Black” starring Brad Pitt and Anthony Hopkins. The podcast uses the movie to demonstrate the two guarantees in life - Death and Taxes. The nuances of taxes can catch individuals by surprise. As it relates to an ESOP transaction - most of the time there is a resulting seller note established. Relative to an S-corp sale - there will be capital gains taxes that need to be estimated. We usually look to installment sale method but if a company’s transaction is large enough to create a seller note greater than $5 million there will be an additional IRS interest cost known as 453a. We detail this issue so that listeners do not underestimate the additional cash outflow to the sellers. This is a very important step in your personal Journey to an ESOP!…

Journey to an ESOP & Beyond

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EP1 - It Takes A - TEAM (Special Message for New Season) 30:58

23 weeks ago30:58

30:58

This is the first episode of the new year where we like to cover changes to the podcast. This kick off message for season 6 focuses on our core value: “It Takes A Team”. This works out well to connect the dots on the old tv show and 2010 movie “The A - Team”. Some of the changes to the podcast have already been incorporated in our logo change. This episode covers some of the highlights of 2024. Looking forward to the new year for 2025 and some of the areas we plan to focus on as well as the open invitation to send your questions to our contact us page on the Journeytoanesop.com website. Lets get started on our next step on this journey to an ESOP.…

Journey to an ESOP & Beyond

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EP33 – ESCA - Interview with Noelle Montano – ESOPs and Washington 47:06

25 weeks ago47:06

47:06

In this episode, Noelle Montano returns to discuss ESCA’s tireless efforts to preserve and promote the S-Corporation ESOP in Washington after the 2024 election. We also discuss some of the impacts employee ownership has on companies, communities, and Congress.

Journey to an ESOP & Beyond

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EP32 - ESOP Experience with Tactical Rehabilitation Insight from Kevin MacRitchie, CEO and Karen Lyons, CFO On Their Journey To An ESOP 56:57

26 weeks ago56:57