ESOPs provide an alternate avenue for ownership transition that retain the corporate culture and enhance the legacy of a business. We will explore employee ownership structure, value to sellers, impact for employees, and the significant tax advantages afforded ESOP transactions.
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Founder and CEO
Justus Equity, LLC
David Drews is the founder and CEO of Justus Equity, LLC, a consulting firm focused on providing ESOP expertise to companies considering employee ownership as well as established ESOP companies. He has served on the Board of ESOP companies in the marketing, life science and construction industries. He has presented ESOP information at conferences and universities. Previously, he helped establish and run the ESOP of Project Worldwide in Auburn Hills, Michigan where he was Executive Vice President, CFO and a Board Member.
Jeffrey G. Jamerino
CPA, President and CEO
Superior Electric Great Lakes Company
Jeff is the President and CEO of Superior Electric Great Lakes Company, an industrial electrical contractor and a 100% S-Corp. ESOP. Jeff spent the first eight years of his career in public accounting before accepting the position of CFO at Superior Electric in 1993. Jeff has helped guide the company from humble beginnings to become a major electrical contractor serving automotive, steel, petrochemical, food service and data service industries. In 2014, Jeff led a team of staff and outside professionals to convert Superior Electric from a single shareholder to a 100% ESOP with over 50 participants. On January 1, 2018, the Superior Electric Board promoted him to President and CEO, with expectations of growth and diversification on behalf of the Company and its participants. Jeff received his BS in Accounting from The University of Detroit.
Joseph F. Rankin
Plante Moran, PLLC
Joe is the Partner in charge of the Employee Benefits Consulting division of Plante Moran. Over the past 18 months, Joe has been involved in nearly $750 million of ESOP transactions throughout the Midwest. In addition to ESOPs, Joe and his team of independent CPAs, attorneys, actuaries, administrators, and employee benefit consultants work on transactions involving private equity, mergers & acquisitions, pension de-risking and termination, as well as all aspects of qualified and nonqualified retirement plans. Joe has been involved in employee benefits for over 30 years. He received his BS in Actuarial Mathematics from The Ohio State University.