For Immediate Release :

SFE&G client The Cadmus Group has acquired the California-based company Constructive Technologies Group (CTG) in an acquisition completed in December 2011. Rob Edwards served as special ESOP counsel on this transaction.

To read the full press release, visit The Cadmus Group website .

November 1, 2011

For Immediate Release :

Ginny Vanderslice, President of Praxis Consulting Group in Philadelphia, authored an article in the November 2011 issue of The ESOP Association’s ESOP Report newsletter which outlined case studies from successful ESOP companies on how to introduce new employees into your ESOP company’s work culture. Two SFE&G clients – Gardener’s Supply and King Arthur Flour – were highlighted for their programs that immerse employees more deeply in understanding the ownership culture within their first year of employment.

September 20, 2011

For Immediate Release :

S. 1512 has been introduced by Senators Benjamin Cardin (D-MD), Pat Roberts (R-KS) and Olympia J. Snowe (R-ME) as a the Senate counterpart to H.R. 1244, the “Promotion and Expansion of Private Employee Ownership Act of 2011.” If passed, S. 1512 will:

• Permit owners of S stock to sell the stock to an ESOP and defer the capital gains tax on his/her gain if the proceeds are reinvested in the equities of U.S. operating corporations as owners of C corporations stock have done under IRC 1042 since 1984.
• Establish an office in the Department of Treasury to provide technical assistance to S corporations with ESOPs.
• Provide that a small business, S or C, eligible for one of the many programs provided by the Small Business Administration, remain eligible for SBA programs if the company becomes owned 50% or more by an ESOP, and the workforce remains the same or nearly the same as before the establishment of the 50% ownership by employees through the ESOP.

We encourage all ESOP companies and their advisors to ask their local Senators to support the bill.  More information on the bill can be found on The ESOP Association's website at www.esopassociation.org .

September 20, 2011

For Immediate Release :

SFE&G client Eileen Fisher is quoted in the How We Got Started section of CNNMoney.com.

While describing her company's growth after opening its first store in 1991, Eileen Fisher discusses the decision to create an ESOP back in 2006 and future plans to turn Eileeen Fisher into a 100% ESOP-owned company.

"Over the years we considered whether we should sell the business or go public, but none of those things ever felt right. We tend to make longer-term decisions, so we thought reporting quarterly profits might not work for us. We also wanted our employees to have a sense of ownership. In the early days I gave people profit sharing. It seemed natural to make them owners. So in 2006 we converted 31% of the company into an employee stock ownership plan (ESOP), which also has tax benefits and I get to cash out a little bit. Over time it's my intention to move the whole company into an ESOP."

To read the full article, visit CNNMoney.com .

July 7, 2011

For Immediate Release :

In an article in the Connecticut newspaper, The Day , U.S. Rep. Joe Courtney applauded the employee ownership structure of SFE&G client, Tee's Plus ( www.teesplus.com ). During a tour of the Tee’s Plus facility, Courtney told employees, “I can see in person right here that an ESOP works.”

Tee’s Plus annually produces nearly 3 million shirts and other embroidered or screen-printed products.  Tee’s Plus CEO, Allen Graham, attributes the firm’s success to its 52 dedicated employees who are also owners of the firm through its ESOP.

To read the full article, visit TheDay.com .

July 7, 2011

For Immediate Release :

SFE&G is pleased to recognize Golden Artist Colors ( www.goldenpaints.com ) and n-link ( www.n-link.net ) on receiving Inc. Magazine's 2011 Winning Workplaces award. Our clients were two of just 50 companies selected by the not-for-profit organization, Winning Workplaces, which recognizes businesses that cultivate productive, satisfied employees.

SFE&G congratulates employee-owned companies Golden Artist Colors and n-link on their achievement.

May 23, 2011

For Immediate Release :

In today's issue of The Philadelphia Inquirer, Jim Steiker contributes his expertise on ESOPs and worker cooperatives to two stories on the conversion of Greensaw Design & Build, a small Philadelphia construction company.  Jim advised Greensaw as it sought to become a worker cooperative.

Click here to read " Crafting A Business Owned By Its Workers ."

Click here to read " Co-Ops and ESOPs Offer Strengths and Challenges ."

April 27, 2011

For Immediate Release :

SFE&G is pleased to announce the recognition of SFE&G client King Arthur Flour by Vermont Business Magazine's The Best Places to Work in Vermont program.  King Aurthur Flour ( www.kingarthurflour.com ) has remained on the list of 20 best places to work in Vermont for the fifth year in a row.

SFE&G congratulates King Arthur Flour and its employee-owners on this exciting achievement.

April 11, 2011

For Immediate Release :

SFE&G is pleased to recognize the following SFE&G clients as recipients of this year's Silver ESOP Award:

Gulf Industries www.gulfindustriesinc.com

McNaughton-McKay Electric Company  www.mc-mc.com

Overton Chicago Gear  www.oc-gear.com

Perry Corporation  www.perrycorporation.com

Reflexite  www.reflexite.com

Web Industries  www.webindustries.com

The ESOP Association presents the Silver ESOP Award to member companies that have sustained their ESOP for 25 years or more.  This is the fourth year that the Silver ESOP Awards have been presented by the Association.  Recipients will be honored at The ESOP Association’s Annual Conference in May and recognized at the 20th Annual Awards Banquet held on the evening of May 11th.

SFE&G congratulates these companies and their employee-owners on this prestigious award.

April 4, 2011

For Immediate Release :

SFE&G is pleased to announce the recognition of the following SFE&G clients by Winning Workplaces as exemplary companies that have built great work cultures:

Reflexite  www.reflexite.com

Skyline  www.skylineconst.com

King Arthur Flour  kingarthurflour.com

Analytical Graphics  www.agi.com

Restek  www.restek.com

Barclay Water Management  www.barclaywm.com

SFE&G congratulates these companies and their employee-owners on this exciting achievement.

March 31, 2011 

For Immediate Release :

SFE&G congratulates Steve Magowan on his recent election as a Fellow of the American College of Trust and Estate Counsel ( ACTEC ). 

The American College of Trust and Estate Counsel brings together the top lawyers in the profession to contribute to the improvement of trust and estate law practice areas.  ACTEC fellows are elected by their peers for outstanding contributions to the practice of estate and trust law.

January 21, 2011

For Immediate Release :

SFE&G is pleased to announce that Tabitha Croscut, Esq. has been named Principal in the firm.

Tabitha joined the Philadelphia office of Steiker, Fischer, Edwards & Greenapple, P.C. in 2010. Prior to joining SFE&G, Tabitha was an ESOP attorney with Boylan, Brown, Code, Vigdor & Wilson, LLP in Rochester, NY.  In addition to counseling clients regarding transactional, compliance and fiduciary issues affecting their ESOPs, she has represented companies, sellers, and internal and external trustees in ESOP transactions ranging from under a million dollars to over one hundred million dollars. Tabitha is a frequent speaker at ESOP conferences nationwide and presents regularly for Pinnacle Equity Solutions, Inc. on how ESOPs can be an effective exit or transition planning tool for owners of closely held businesses. Read More about Tabitha .