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ESOPs as a Business Transition Tool

NCEO Webinar replays are the recorded version of our live Webinars, using PowerPoint presentations viewed online. To purchase a twelve-month subscription providing unlimited access to all recorded Webinars, including this one, follow this link. (Replays are not available for individual purchase.) Please contact Colleen Kearney at 510-208-1311 or for additional information.

This replay was recorded on April 10, 2012.

About This Meeting

ESOPs have become increasingly common as a means of transferring ownership in a closely held company. They allow companies to use pretax dollars to buy out one or more owners, in part or in full. In a C corporation, if the ESOP ends up with 30% or more of the ownership, the seller or sellers can defer taxation on the gain by reinvesting in other securities. This Webinar looks at the issues involved in selling to an ESOP and how an ESOP sale compares to other alternatives for transition. You will learn:


What Is an ESOP and Why Might You Want One?
Joel Davis, Principal Financial Group
Valuation for ESOP Purposes
Aziz El-Tahch, Stout Risius Ross
Is an ESOP the Right Choice?
Anthony Dolan, Prairie Capital Advisors


Joel H. Davis

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Principal Financial Group

Joel is the VP-Consulting, ESOP consulting services at the Principal Financial Group (The Principal®). He has 20 years of experience consulting with companies that have employer securities in their plans. His technical areas of expertise include ESOP feasibility consulting, repurchase liability and sustainability analysis, plan design, and administration. He is a member of the NCEO, the Ohio Employee Ownership Center, the ESOP Association, and the Minnesota/Dakotas Chapter of the ESOP Association.

Anthony J. Dolan

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Prairie Capital Advisors, Inc.

Anthony is a director at Prairie Capital Advisors. Anthony has significant experience advising private companies and shareholders on mergers and acquisitions, capital raising, leveraged ESOPs, and strategic advisory engagements in the middle market. He has diverse experience executing transactions in manufacturing and distribution, food and beverage, and business services industries. Prior to joining Prairie, Anthony was an investment professional with Alpha Capital Partners and NM Group Global, a multinational company.

Aziz El-Tahch

presenter photologo

Stout Risius Ross

Aziz is co-leader of Stout's ESOP & ERISA advisory services team. Aziz is a frequent speaker and longtime leader in the ESOP valuation community. Aziz is also a CFA charterholder, a member of the Legislative & Regulatory committee of the ESOP Association, and sits on the board of an Alabama-based 100% ESOP-owned S corporation.