Is an Employee Stock Ownership Plan (ESOP) right for your company? This session provides a clear and practical overview of ESOPs and their potential as a succession-planning vehicle, with a focus on the construction industry. Attendees will explore the benefits ESOPs can offer to sellers, companies, management teams, and employees. The discussion will address common myths, outline the pros and cons, provide practical and real-world applications, and highlight risks specific to construction financial professionals. While ESOPs will be the central focus, the session will also touch on alternative transition strategies such as key employee buy-ins and strategic sales to help business owners evaluate the best fit for their goals.

CPE: 1 hour
Level: Basic
Prerequisites: None

 

The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Brooks Einstein is the Middle Market Executive for the Pacific Northwest for BMO.  Brooks has led commercial banking teams at KeyBank, Union Bank and now BMO.  Prior to that he was an analyst and relationship manager for over 10 years.  Over his career Brooks has focused on working with middle market companies in sourcing and providing capital solutions that help those companies achieve their objectives.  Brooks has financed a number of ESOP transactions and worked with mature ESOP owned companies.   

Brooks was born and raised in the Seattle area and has deep roots in the Pacific Northwest.  Brooks is a graduate of the University of Puget Sound.  He received his MBA from the University of Maine and completed Pacific Banking School in 2014.  He lives in Seattle with his wife Molly, who is a clinician and researcher at UW Medicine / Seattle Children’s Hospital, and has two children who are active teenagers.

Steve Deis is Managing Director and Market Leader for Lazear Capital Partners in California, where he specializes in guiding privately held business owners through succession planning tailored to their goals for family, company, and employees. With over 25 years of experience in financial services and investment banking, Steve brings deep expertise and practical insight to ownership transition strategies, particularly ESOPs. His approach is grounded in both professional experience and personal perspective as a member of a fourth-generation family agricultural business. Prior to Lazear, Steve held senior roles in ESOP advisory and began his career at Merrill Lynch serving high-net-worth families. He holds a B.S. in Business Administration from California State University, Fresno.

Bill Wilson is a Senior Manager in the assurance group with Baker Tilly US, LLP. He has practiced public accounting since 2007.  He focuses on serving closely held companies the construction industry and also specializes in auditing employee owned companies and the related Employee Stock Ownership Plans.