Associated Construction Partners (ACP), a Texas-based water and wastewater infrastructure contractor, has transitioned to an Employee Stock Ownership Plan (ESOP), marking a significant step in the company’s long-term ownership and succession strategy.
Lazear Capital Partners (Lazear) served as the exclusive financial advisor on the ESOP transaction, helping ACP evaluate its ownership transition options and develop a structure tailored to its long-term objectives. An ESOP allows ACP to preserve its independence and build on its employee-focused culture while providing employees with an opportunity to share in the company’s future success.
Josh Goldblatt, Managing Director and Charlotte Market Leader, led the engagement, with support from Managing Director Robby Gerlach.
“There’s a strong sense of connection between ACP, its employees, and the communities it serves, so there was real value in finding an ownership structure that could keep that spirit at the center,” said Goldblatt. “Working with ACP to shape an ESOP around its goals allowed us to preserve what makes the company unique while creating a meaningful path for its employees to share in its future.”
Founded in 2008, ACP serves municipalities, water authorities, and private industry throughout Texas, providing construction and rehabilitation services for water and wastewater infrastructure, including treatment plants, pump stations, distribution systems, and dams.
“It was important that our next chapter stay true to the people, relationships, and communities that have shaped ACP,” said ACP President Jill Simpson. “Lazear took the time to understand what we were trying to preserve and where we wanted to go, ultimately making the transition to becoming an employee-owned company feel like a natural next step for ACP.”
Created by Congress in 1974, ESOPs offer business owners a tax-advantaged way to transition ownership to employees. For business owners seeking to preserve independence and create a long-term succession strategy, an ESOP can provide a path to transition ownership while maintaining continuity and giving employees an opportunity to participate in the company’s future.
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
