Belden Brick and Supply Company Sells to an ESOP and Becomes 100% Employee-Owned
Lazear Capital Partners is pleased to announce that Belden Brick and Supply Company (“Belden” or the “Company”) has become a fully employee-owned business by way of an employee stock ownership plan (ESOP).
Headquartered in Grand Rapids, Michigan with offices in Freeland and Kalamazoo, Belden is the leader in brick, stone, and architectural elements for commercial and residential customers. Lazear Capital Partners acted as the exclusive financial advisor on the ESOP transaction.
Founded in 1979, and with over 5 generations invested in the craft of brick production and trade, Todd and Paul Belden took their exit planning seriously. For the Belden family, this was not just about making a business strategy decision but also about preserving the legacy of what their family has built - quite literally - brick by brick, over the years.
Todd reflected on the decision to sell an ESOP, saying, “After having discussions with larger corporations seeking to purchase our company, it became immediately clear that we had a tight, family culture we did not want to lose. It felt wrong to force our friends and colleagues, several who have been with us from the start and were integral to building the business, into a new ownership situation.
Through conversations with the Lazear team, we arrived at a wonderful option that allowed Belden employees to become owners through an ESOP while keeping the culture that made the business a success. Knowing that the transition would feel seamless to our customers was crucial. We have a great team of employee owners that we know will carry on the tradition of customer service and great products to the building, masonry, and landscape industry in Michigan.”
As Belden forges a new era of employee ownership, Lazear Capital Partners congratulates Todd and Paul as well as the entire Belden team on their successful ESOP transaction.
About Belden Brick and Supply Company
Belden Brick and Supply Company, founded in 1979, is the leader in brick, stone, and architectural elements for commercial and residential customers. Serving West Michigan and beyond, this one-of-a-kind company and its appreciated staff know that success relies on three core ideas: a personal interest in each customers’ project, innovative and quality products, valued relationships with true craftsmen.
Visit Belden Brick Online: https://www.beldenbrickandsupply.com/