|By PR Newswire||
|August 8, 2014 09:59 AM EDT||
NEW YORK, Aug. 8, 2014 /PRNewswire/ -- CSG Partners, announced that it advised The Companion Group (TCG), a leading manufacturer of barbecue tools, accessories, and other outdoor cooking products, on its formation of an Employee Stock Ownership Plan (ESOP). TCG was established in Berkeley, California in 1984 by its two founders and has since grown to become a global organization.
Chuck Adams and Doug Fielding, TCG's founders, were seeking a strategy to reward their employees with a meaningful retirement fund that would appreciate in value as the business continues to grow. Many of TCG's employees have been with the company for over 10 years. The ESOP structure allowed the founders to share the company's success with its loyal employees while providing the owners with a tax-efficient mechanism to diversify a portion of their personal holdings. The Company has always placed a high value on its employees, and this new structure aligns the business even closer with its principles of an entrepreneurially spirited culture and high customer satisfaction. Renowned for high commitment to its many customers, the TCG's ESOP will empower the now employee-owners to further exceed customer expectations.
CSG Partners Managing Director Eitan Milstein led the transaction team. "We very much appreciated and enjoyed the opportunity to have worked for an outstanding organization that holds both its customers and its employees in such high esteem," noted Milstein. "This new employee-owned organization structure will benefit every employee of the firm, and we believe, will secure The Companion Group's position as a leader in the outdoor cooking products arena for many years to come."
"Our intention is to provide an additional source of retirement in combination with our standard employee benefits. We chose an ESOP program to diversify holdings and to share the success of the company with our treasured employees," said TCG CEO Chuck Adams. "I want to extend a special thanks to all of our employees and customers, past and present," he added.
ABOUT CSG PARTNERS
CSG Partners, LLC is a boutique investment bank specializing in ESOPs, mergers and acquisitions, and capital advisory services for middle-market companies. Our clients have spanned the full middle-market spectrum, with values ranging from $10 million to $650 million. Founded in 2001, the firm has built a reputation of having the nation's preeminent ESOP investment banking practice. The firm has closed over 150 ESOP transactions for companies with an aggregate value exceeding $9 Billion. CSG Partners operates from offices in New York and San Francisco. More information on the firm can be found at www.csgpartners.com, LinkedIn, and Twitter.
SOURCE CSG Partners
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