ST. LOUIS, Jan. 27, 2014 (GLOBE NEWSWIRE) -- Haberfeld Associates ("Haberfeld" or "Company"), a leader in financial services customer acquisition, profitability and marketing consulting, finalized the sale of the Company to the Haberfeld Associates Employee Stock Ownership Plan ("ESOP"). Haberfeld engaged the expertise of the St. Louis-based investment bank Butcher Joseph Hayes ("BJH") to complete the transaction. The sale officially closed on December 31, 2013, and culminated with a company celebration in Lincoln, NE, where Haberfeld is based, on January 25, 2014.
Haberfeld CEO Alan Friesen and the management team were extremely proud of the transaction. Friesen commented, "Like most changes in ownership, this is a major milestone in Haberfeld's story. Having the ability to shift ownership to the employees and continue our story inspires all of us to achieve even more growth and success for the company."
Keith Butcher, Managing Partner for BJH, stated, "Anytime we take on an engagement, our overall goal is to maximize long-term value for our client. We aim to run the most efficient process that yields an optimal outcome for the shareholders, the management team and employees. The manner in which we structured the sale to the ESOP made it a perfect fit for Haberfeld Associates."
ABOUT HABERFELD ASSOCIATES
Haberfeld Associates ("Haberfeld"), named after its founder, Ralph Haberfeld, officially launched its business on January 1, 1989. Haberfeld is known as the originator of customer acquisition through checking account marketing. Haberfeld clients typically double their rate of acquisition of new core customers. With more than 40 employees working with 100 financial institutions in urban, suburban, rural, and small-town markets in more than 40 states, Haberfeld's services include consulting, training, mystery shopping, digital, benchmarking, and general marketing strategies.
ABOUT BUTCHER JOSEPH HAYES, LLC
Butcher Joseph Hayes ("BJH") is an investment bank headquartered in St. Louis with coverage in Chicago, Washington, DC, and Charlotte, NC. BJH provides investment banking advisory services to lower middle market companies. With almost $2 billion in successfully completed Employee Stock Ownership Plan ("ESOP") structured transactions, BJH is known as a leader in the ESOP field.