Rockford Construction

BDO Capital Advises Rockford Construction on the sale to a newly formed ESOP

Situation

Rockford is a construction management, real estate development, and property management company founded in 1987 and headquartered in Grand Rapids, Michigan. The Rockford shareholder group sought an ownership transition solution that would preserve the company's culture, independence, and operational continuity while creating opportunities for future growth.

Solution

BDO Capital served as Rockford's exclusive financial advisor throughout the transaction process. BDO Capital advised on transaction structure, purchase price negotiations, and other key deal terms. Managing Director Blake Head, Director Adnan Muminovic, and Associate Gowan Carlyle led the engagement and guided the company through the execution of the transaction.

Outcome

Effective July 2, 2026, 100% of Rockford was sold to an Employee Stock Ownership Plan. The transaction enabled the shareholders to achieve their ownership transition objectives while extending employee ownership throughout the organization and aligning employee and shareholder interests. Rockford will continue to operate under its existing leadership team, with Shane Napper serving as Chairman and CEO.

Rockford Construction logo.

The entire BDO Capital team was extremely knowledgeable. They led us through a highly detailed, organized and responsive process, helping us understand and evaluate options to find solutions that were right for our shareholders, our company and our team members. We are confident that the ESOP will not only provide long-term stability for Rockford but will position us for growth and success in the years to come. We could not have picked a better advisor in this important work and would recommend BDO Capital wholeheartedly.

Shane Napper
CEO, Rockford Construction