Thank you to Smart Business for publishing an outstanding article on Palmer-Donavin and its employee stock ownership plan (ESOP) in the May 2012 magazine. The article does a great job of explaining how employee ownership through an ESOP can be a unique and savvy succession planning technique, and what the company’s thought process was in establishing its ESOP.
As you know, we at GBQ are huge proponents of ESOPs, and I speak, write, and blog about them constantly. We help many companies evaluate whether an ESOP is a viable alternative for them and assist with ESOP implementation and transactions. We have seen first-hand the benefits of employee ownership through ESOPs through the great success of our 50-75 ESOP clients, and many other ESOP-owned companies we have gotten to know over the years.
We wish Palmer-Donavin continued success with its company and its ESOP, and we hope that more companies will look to examples like this when evaluating the unique advantages that an ESOP can provide.