BDO Capital Advisors Announces the Redemption of all ESOP-Owned Shares of a Leading Mid- Atlantic Auto Dealership
BDO Capital Advisors, LLC (“BDO Capital”) is pleased to announce the redemption of all ESOPowned shares of a leading Mid-Atlantic auto dealership (the “Company”). The ESOP, which had owned a minority interest of the Company, was originally formed in 2003. BDO Capital acted as the investment banker to the Company, advising on the repurchase of the ESOP shares, negotiating the purchase price with the ESOP trustee, advising on financing for the repurchase and providing a fairness opinion to the Board of Directors of the Company. The deal was introduced to BDO Capital by BDO partners in Richmond, VA and Atlanta, GA. BDO Capital worked in conjunction with the law firm of Morgan, Lewis & Brockius, who provided legal counsel for the Company, and BDO USA, who provided due diligence services, tax advice and ESOP and ERISA expertise.
Due to declining auto sales and the economic downturn, the Company redeemed the shares at the current fair market value price. This created a win-win situation for the owner (who re-acquired 100 percent ownership and lowered operating expenses) and the employees (who received a cash payment for their shares).
ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.
The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.