PATTI'S PASSION

A Passion for ESOPs, Born of a Passion for Caring

Working as a bedside nurse for 15 years, Patti Plough (President of Excel Legacy Group) saw a look in her patients’ eyes more often than she could remember.

"Help Me"

Unfortunately, for most it was too late. They suffered from heart disease, cancer, alcoholism and other chronic conditions. She could only make them comfortable.

She changed careers from nursing to wellness. Helping people prevent illness was far more proactive. She was making a difference in people’s lives, before it was too late.

See, Patti’s passion is caring. This continued when she took over leadership of Healics Inc., a wellness solutions provider with 150 employees. She saw firsthand their efforts every day to serve customers. She knew they made the company “go.”

So when numerous outside parties offered to purchase Healics, Patti rebuffed them all. None could guarantee the fate of her employees. It was a non-starter.

Meanwhile, a longstanding manufacturing company near Healics was purchased – and promptly shut down – by a third-party buyer. Dozens of workers lost their jobs. Observing the calamity made Patti more determined than ever to find a long-term solution for her workforce.

She soon heard about ESOPs. Here, it seemed, was a vehicle to motivate already hard-working employees, and provide even more reward for their industriousness.

More so, the ESOP approach fit her philosophy of caring. Workers were given “skin in the game.” The company’s future was in their hands. What could be more empowering?

When you work with Patti, it’s good to understand what really drives her. If you share the same passion – caring for others, especially those who have made your organization successful – you’ll make a great team.

ESOP services

Our ESOP consultants, attorneys and financial professionals have more than 75 years of experience working with ESOPs. Our depth and breadth of experience set us apart from other ESOP consulting companies. The professionals with ELG have implemented ESOPs for more than 500 companies and have completed more than 1,000 ESOP-related transactions. We work with companies nationwide across all industries.

design

If an ESOP is ultimately the best strategic choice for you to accomplish your objectives, ELG will assist you in exploring the appropriate size, structure and financing terms, among other areas, of your ESOP plan, to ensure the feasibility of a successful transaction. This analysis will model how the ESOP will impact the company, the selling owners and the employees.

Financing

ELG affiliates have decades of experience in structuring and financing ESOP transactions and working with lenders of all types across the country. Most of our clients rely upon us to help them structure transactions through the ESOP feasibility study process. Many then engage our affiliated investment banks, to raise ESOP financing through a competitive bid process or to assist in negotiating financing terms within an existing banking relationship.

legal services

Our professionals have the skills and expertise to assist owners in balancing their needs with those of the company and its employees to create successful and sustainable employee ownership outcomes. Through our affiliated ESOP attorneys we assist companies in the legal process of establishing and funding an ESOP, including preparing the transaction, financial and legal documents with an eye toward minimizing fiduciary risk.