Local and statewide business leaders to speak on ESOPs, The Alliance Tampa Bay
Local and statewide business leaders will serve on an upcoming panel discussion about Employee Stock Ownership Plans (ESOPs). The event is hosted by The Alliance of Tampa Bay on Tuesday, May 21.
Cost to attend for members is $40 per person and $60 per person for non-members. A continental breakfast will be served. For more information and to register for the event, contact Len Russek or Mike Ertel at 888.864.6610.
John Burgess will serve as the panel moderator. As a partner at Shumaker, Loop & Kendrick, LLP, a full-service business law firm, Burgess focuses on employee benefit plans, including ESOPs, tax-qualified retirement plans, health and welfare plans, and executive compensation arrangements. Burgess devotes a significant portion of his practice to ESOPs, advising clients on plan designs, distribution policies, structure and implementation of ESOP transactions, and administration. Active within the ESOP community, he is a frequent speaker at national and regional ESOP conferences.
Panelists include Kelly Hendry, President of Hendry Marine Industries Inc., a family maritime business which Captain F.M. Hendry started in 1926, and is one of the Southeast's leading tug-barge shipyards with a diverse range of maritime businesses including commercial and government ship repair. And, Brian West who serves as Media and Community Relations Manager of Publix, the nation's largest employee owned grocery chain since 1930. Also, on the panel will be Harry Irwin, President of Electric Supply Inc., Florida's largest independent electrical and voice data video distributor since 1970 and employee owned since 2011.
The panel discussion will cover a myriad of topics and dispel some of the myths about ESOPs, business mergers and acquisitions, plus how to exit a business in some of the most beneficial financial conditions. Also, attendees will learn from business owners and how they successfully created a cash buyer for some or all of their business at fair market value while staying on at their discretion as a senior manager with full compensation and benefits for several years, even after selling a majority interest in their company.
Additionally, panelists will address how taxes on business sale proceeds may be deferred indefinitely, how the traditional ESOP exit strategy is being reconceptualized to reduce or eliminate ongoing corporate income tax, and creating a meaningful, long term benefit for valued employees while fostering a more productive and profitable company in the process.
As sponsors for the event and The Alliance of Tampa Bay, Len Russek and Mike Ertel are managing directors of Transworld M&A Advisors, a division of Transworld Business Advisors. They have more than 50 years of combined experience in all aspects of mergers and acquisitions along with vast experience in strategic business management and planning skills, senior management, public accounting, investment banking, and management consulting, among others. They are also charter members of The Alliance of Tampa Bay. Russek and Ertel established the Transworld M&A Advisors office in 2016 as a division of Transworld Business Advisors LLC which specializes in the sale of businesses and helps thousands of clients in buying and selling companies. The local office is located at 400 Carillon Parkway, Suite 110 in St. Petersburg. Visit the website at http://www.transworldma.com/