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:
“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.