Miles-McClellan Construction (Miles-McClellan), a Columbus-based commercial construction firm, has completed its transition to a 100% employee-owned company through the establishment of an Employee Stock Ownership Plan (ESOP). Lazear Capital Partners served as exclusive financial advisor to Miles-McClellan throughout the transaction.
“Being headquartered in Columbus, we’re honored to support companies that have helped shape this community over generations,” said Stephen Arnold, Managing Director and Columbus Market Leader at Lazear Capital Partners. “For Miles-McClellan, becoming an employee-owned company ensures the value created here stays here, with its people, its leadership, and the communities they build every day.”
For clients and partners, the transition represents continuity rather than change. The existing leadership team remains in place, and the company’s focus on delivering high-quality construction solutions across healthcare, education, and community projects continues uninterrupted.
“This company has always been family-focused. That means taking care of employees with good pay and benefits,” said CEO Matt McClellan. “Adding employee ownership takes that care to another level.”
President Tim McClellan emphasized that employee ownership aligns with the firm’s founding principles dating back to 1978. “If you work hard every day, you should be able to retire well,” McClellan said. “This plan ensures our team has the opportunity to do exactly that.”
Created by Congress in 1974, ESOPs offer a tax-advantaged way for business owners to transition ownership to employees in order to support long-term stability, workforce engagement, and community impact. According to the National Center for Employee Ownership, construction companies are among the most active adopters of ESOPs as a succession strategy.
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 tax solutions, 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
