Robert Clancy Contracting, a Michigan-based excavation, underground utility, demolition, and trucking contractor, has transitioned to employee ownership through an Employee Stock Ownership Plan (ESOP), marking a significant milestone in the company’s continued growth and long-term future.
Lazear Capital Partners (Lazear) served as the exclusive financial advisor on the ESOP transaction, which was designed to preserve the company’s independence, support long-term continuity, and provide employees with the opportunity to benefit from the company’s future success. The engagement was led by Detroit Market Leader Jeremy Garrett, with support from Managing Director Robby Gerlach.
“Working with Robert Clancy Contracting highlights why so many construction companies are turning to ESOPs as a long-term ownership transition strategy,” said Garrett. “It’s rewarding to help a company protect the culture and reputation it spent decades building while creating meaningful financial benefit for employees.”
Founded in 1997, Robert Clancy Contracting has grown into a respected Michigan construction contractor specializing in excavation, underground utilities, storm sewer systems, sanitary sewer systems, water services, demolition, trucking, grading, and site development services throughout the region. The company has remained committed to the values on which it was founded, including integrity, accountability, and putting customers first.
“Starting the company with five employees, one dump truck, and rented equipment makes you appreciate every person who helped along the way,” said Robert Clancy, founder of Robert Clancy Contracting. “Becoming an employee-owned company felt like the right path because it allows our employees to benefit from the future success of the company as we continue building on what we’ve created over the years.”
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, businesses in construction and contracting often adopt this exit strategy to prioritize their companies, employees, and the communities they serve.
About Lazear
Lazear Capital Partners is a nationally recognized investment banking and ownership transition advisory firm serving middle-market businesses. The firm specializes in Employee Stock Ownership Plans (ESOPs), proprietary Section 1042 tax strategies, and mergers and acquisitions.
Since 1999, Lazear has advised on more than 350 ownership transition transactions and expanded to 19 locations nationwide. Through its multidisciplinary team of CPAs and CFA Charterholders, attorneys, valuation professionals, and transaction advisors, Lazear helps business owners maximize value while preserving their legacy.
To learn more, visit www.lazearcapital.com and follow Lazear on LinkedIn.
Media Contact
Katherine Koon
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kk@lazearcapital.com
614-502-1411
