St. Louis, July 24, 2018 (GLOBE NEWSWIRE) --
ButcherJoseph & Co. (“ButcherJoseph”) advised Entech Sales and Service, Inc. (“Entech” or the “Company”) on the optimization and recapitalization of the Company’s ownership structure, which includes an Employee Stock Ownership Plan (“ESOP”). Based in Dallas, Entech has more than 375 dedicated employees who provide services to commercial and industrial buildings in several key markets within the state of Texas. The transaction officially closed on June 1, 2018.
Nick Kollasch – Vice President of Entech, explained, “Maintaining employee ownership is very important to our culture. As we matured in our life cycle as an ESOP-owned Company, we recognized that there was an opportunity to realign and refresh our ownership structure to better match Entech’s strategic plans moving forward. Creating new ownership options and meaningful incentives for our future leaders will ensure that Entech remains a great place to work, and will further foster the entrepreneurial spirit through which all of our customers and key relationships will benefit.”
ButcherJoseph Managing Director Jeff Buettner expressed, “It was an honor to craft an innovative and expansive form of employee ownership for Entech. Quite often, mature ESOP companies find that the status quo model of employee ownership doesn't always align with new growth initiatives, nor may it offer future employees and leaders worthwhile incentives, and believe the only solution to be a sale of the business. After extensive analysis, our team designed a broader form of employee ownership that will provide both durability and flexibility to support Entech’s vision moving forward.”
About Entech Sales and Service, Inc.
Entech consists of several cohesive business groups working together to provide services for commercial and industrial buildings. Each division is dedicated to a special area of expertise such as mechanical services, building automation, security/card access systems, chemical water treatment, rental HVAC & generator equipment. Entech has grown from a Dallas-based mechanical service business to a diversified, employee-owned company with offices in several key Texas cities. Entech’s business philosophy remains unchanged over the years. We provide the best in professional service to our customers, with highly trained, self-motivated people who accomplish our customers’ goals. Entech has developed an excellent reputation in Dallas-Ft. Worth and surrounding areas with the help of 375 dedicated employees.
About ButcherJoseph & Co.
ButcherJoseph & Co. (“ButcherJoseph”) is an investment bank headquartered in St. Louis with coverage in Chicago, Washington, DC, and Charlotte, NC. ButcherJoseph provides investment banking advisory services to middle market companies. With more than $7 billion in successfully completed Employee Stock Ownership Plan (“ESOP”) transactions, ButcherJoseph & Co. is known as a leader in the ESOP field.
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