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Client Spotlight: Big G Forms 100% ESOP

Big G Express, Inc. announced December 22, 2009 the company had sold 100 percent of the operations to the employees through an Employee Stock Ownership Plan (ESOP). Founded in 1995 by brothers Pat and Jack Marsh and later joined by Patty Corley and David Nolan, the dry van carrier has grown to 375 tractors and 850 trailers. Headquartered in Shelbyville, TN, the company also provides warehousing and distribution.

Whilein the past, Big G Express had been contacted by several outside interested buyers, the owners decided to reward the employees who had helped build the company. Chief Financial Officer David Nolan commented, "Under an ESOP, our eligible employees will participate in a retirement plan that invests in the stock of the company. Doing business with an ESOP company makes good business sense because every employee is an owner and has incentive to do their job well. A lot of companies talk about taking care of their employees, at Big G, we don't just talk about it, we do it."

Katz, Sapper & Miller (KSM) provided services in tax structuring and financial modeling of the ESOP transaction. In addition, KSM facilitated the transaction by coordinating the services of the trustee, attorneys, valuation experts and financial institutions. KSM, also a 100 percent ESOP company, has extensive experience and expertise related to ESOP feasibility, formation, valuation, ongoing compliance, tax structure and accounting matters.

For more information, contact any member of our Valuation Services Group at 317.580.2000.