XPX Chicago member, Jim Junker, MD of Pilot Hill Advisors is excited to announce the completion of another successful deal in the Midwest! Two owners of a Michigan IT services firm recently sold the company via a 100% leveraged ESOP, putting the company and the employees in a position to thrive. The two owners had been partners in the 20 year “overnight success” since founding the firm. One owner was of retirement age and was able to largely step away and leave the management to his younger partner as CEO. The CEO is excited about managing a company with engaged employees and effectively no state or federal income tax burden. Both owners were able to realize a fair sale price comparable to a sale to a third party financial buyer. Most importantly to them, the legacy of their firm is intact and the managers and employees have the opportunity to enjoy the benefit of the bright future of the firm. Pilot Hill Advisors is proud to have quarterbacked this transaction for this important American company!