Lazear Capital Partners (Lazear) is proud to announce that it served as exclusive financial advisor to Encorus Group (Encorus), a Buffalo‑based engineering, testing, and inspection services firm, in its transition to a 100% employee‑owned company through an Employee Stock Ownership Plan (ESOP).
The transition is among the first completed under New York’s 2024 Design Professional Corporation legislation, which expanded the viability of ESOPs across the architecture and engineering industry.
“Encorus has long led the industry through the quality and innovation of its services,” shared Brian Dobis, Managing Director at Lazear. “Now, it’s setting a new benchmark for what it means to lead as an employee-owned company.”
President Joe Lowry, who started with Encorus as a high school CAD drafter, credits the team’s effort and talent for inspiring the decision to transition to an ESOP. “Over the decades, I’ve seen the dedication and creativity of our team shape every part of this company. Lazear helped us design a strategy that preserves our culture and carries forward the legacy we’ve built together.”
Founded in 1996, Encorus provides engineering and architectural design, materials testing, inspections, and non-destructive testing across industrial, energy, infrastructure, and government sectors.
An ESOP structure allows Encorus to maintain its leadership, operations, and culture while giving eligible employees a meaningful stake in its success. Created by Congress in 1974, ESOPs offer a tax-advantaged way for owners to transition ownership to employees. According to the National Center for Employee Ownership, employee-owned companies often outperform their peers, with stronger growth, higher productivity, greater engagement, and enhanced long-term stability.
About Lazear
Lazear is a premier middle-market advisory firm specializing in business ownership transitions nationwide. Headquartered in Columbus, OH, with a growing presence, the firm is dedicated to helping business owners maximize wealth and preserve legacies through customized exit strategies, including ESOPs and 1042, M&A, and capital formation.
To learn more, visit www.lazearcapital.com and follow Lazear on LinkedIn.
Media Contact
Katherine Koon
Marketing Director
kk@lazearcapital.com
614-502-1411
