In a presentation for the National Center for Employee Ownership (NCEO) Conference, Erin Turley presented on selling a family of multi-shareholder business to an ESOP. She discussed ownership transition alternatives and how to execute the ESOP transaction. Below are a few key takeaways from the presentation.
- A multi-shareholder-owned company should not be a deterrent selling to an ESOP
- Communicating with the shareholder group is key
- Legal procedures must be followed to ensure all shareholders are informed