Clients in the News: Ayers Saint Gross featured in Baltimore Sun article on Employee Ownership

June 30, 2015

Excellent¬†article¬†from the June 13, 2015 Baltimore Sun, on why ESOP’s can be an especially good fit for professional services firms who are looking to transition ownership.

From the Baltimore Sun:

More professional firms embrace employee ownership

“The ownership of Ayers Saint Gross has changed hands four times, all while keeping the design firm intact and in Baltimore for more than a century.

But when it came time for yet another transition, the owners looked for a less traditional way to keep the firm going without selling stock to new leaders, merging with another firm or selling to a competitor.

“It would have been easy to sell out and take our money and leave,” said Jim Wheeler, a principal and president of the 150-person firm, known in Baltimore and internationally for planning and design projects at universities, museums and hospitals. “But we didn’t want to lose our identity and everything we created.”

A new chief financial officer had experience with employee stock ownership plans and suggested taking that route.”..read the rest of the article.