PCE Investment Bankers, Inc., a financial services firm for middle market companies, announced that the shareholders of Midwest Drywall Co. Inc., have sold 100 percent to the Midwest Drywall Employee Stock Ownership Plan ("ESOP") Trust.
PCE worked with the Midwest Drywall team to guide them through the ESOP feasibility study which provided a road map of their many options. PCE efficiently managed the ESOP transaction process including structuring the transaction and negotiating with the ESOP Trust on behalf of the selling shareholders.
Steve Nienke and Denis Dieker of Midwest Drywall said "we reviewed several options for the transition of our business and a sale to our employees through an ESOP was the clear choice for us. We look forward to taking Midwest Drywall to the next level along with our employees as partners and owners. We appreciate all the guidance and leadership the PCE team provided in the ESOP transaction."
Eric Zaleski of PCE said "throughout the decision-making process, Steve and Denis set up the ESOP to provide further benefit to their most prized asset – the employees. From the start, Midwest Drywall was the ideal candidate for a very successful ESOP which will enhance its already strong company culture. I want to thank Steve, Denis and their team for having a clear vision and then allowing PCE to execute for all involved."