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veoc event
ESOPs and Business Succession: A Closer Look - Montpelier
Date: November 5, 2009 (2:30 pm to 5:00 pm)
Location: One National Life Dr., Montpelier, VT 05602
Cost: Free
To Register: Click here to register.
The Vermont Employee Ownership Center (VEOC) is offering a new intermediate-level workshop entitled “ESOPs and Business Succession: A Closer Look” on November 5th from 2:30 to 5:00 pm in the offices of the Vermont Department of Economic, Housing and Community Development, National Life Building in Montpelier.
Designed for those who already have some familiarity with Employee Stock Ownership Plans (ESOPs), the workshop will feature attorney Steve Magowan of Steiker, Fischer, Edwards & Greenapple, and Rick Gile, founder of Kalow Technologies.
Mr. Gile will tell the story of Kalow Technologies’ transition to ESOP ownership. He says, “In 1986, I founded Kalow Technologies in my garage, and by 2004 it had grown to 40 people and $7 million in sales. I wanted the company to continue beyond my tenure with it. The Employee Stock Ownership Plan turned out to be a good way to achieve this goal. Since the time we sold the company to the ESOP, Kalow has continued to prosper, and sales have increased to $16 million and employment to 55 people.”
Mr. Magowan will discuss the intricacies of the ESOP structure, and will use the story of Kalow Technologies’ transition to ESOP ownership to illustrate financing possibilities and the steps leading up to an ESOP transaction. In addition, he will also discuss the current financing market for ESOP transactions and show various other ways companies can use ESOPs to achieve their goals.
The workshop is co-sponsored by the Vermont Department of Economic, Housing and Community Development, the Central Vermont Economic Development Corporation, the Central Vermont Chamber of Commerce, and the Vermont Sustainable Jobs Fund.
There is no registration fee to attend the workshop, but advance registration is required.
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veoc event
ESOPs and Business Succession: A Closer Look - Montpelier
Date: November 5, 2009 (2:30 pm to 5:00 pm)
Location: One National Life Dr., Montpelier, VT 05602
Cost: Free
To Register: Click here to register.
The Vermont Employee Ownership Center (VEOC) is offering a new intermediate-level workshop entitled “ESOPs and Business Succession: A Closer Look” on November 5th from 2:30 to 5:00 pm in the offices of the Vermont Department of Economic, Housing and Community Development, National Life Building in Montpelier.
Designed for those who already have some familiarity with Employee Stock Ownership Plans (ESOPs), the workshop will feature attorney Steve Magowan of Steiker, Fischer, Edwards & Greenapple, and Rick Gile, founder of Kalow Technologies.
Mr. Gile will tell the story of Kalow Technologies’ transition to ESOP ownership. He says, “In 1986, I founded Kalow Technologies in my garage, and by 2004 it had grown to 40 people and $7 million in sales. I wanted the company to continue beyond my tenure with it. The Employee Stock Ownership Plan turned out to be a good way to achieve this goal. Since the time we sold the company to the ESOP, Kalow has continued to prosper, and sales have increased to $16 million and employment to 55 people.”
Mr. Magowan will discuss the intricacies of the ESOP structure, and will use the story of Kalow Technologies’ transition to ESOP ownership to illustrate financing possibilities and the steps leading up to an ESOP transaction. In addition, he will also discuss the current financing market for ESOP transactions and show various other ways companies can use ESOPs to achieve their goals.
The workshop is co-sponsored by the Vermont Department of Economic, Housing and Community Development, the Central Vermont Economic Development Corporation, the Central Vermont Chamber of Commerce, and the Vermont Sustainable Jobs Fund.
There is no registration fee to attend the workshop, but advance registration is required.
View Larger Map