Prestwick Construction Sells to Employee Stock Ownership Plan, Becomes 100% Employee-Owned
Lazear Capital Partners is pleased to announce that Prestwick Construction Company (“Prestwick Construction” or the “Company”) has become a fully employee-owned businesses by selling to an employee stock ownership plan (ESOP).
Since its founding in 2012, Prestwick Construction has offered fully integrated top-notch general contracting services for various types of multifamily housing units including affordable housing new construction, market rate, renovations, and podium parking.
Headquartered in Atlanta, Prestwick Construction was created to respond to the market need for high-quality and reliable general contractors to meet the substantial multifamily housing demand in the Georgia and South Carolina area.
Over decades, the Prestwick Construction team has perfected a combination of processes, organization, and company structure that delivers on every level of service and quality. This consistent execution of high-quality and reliable work has forged a sterling reputation and catalyzed steady growth as Prestwick has become a key partner with large local and national housing developers.
A continual focus on sustainable growth for the Company has always been a priority. This has informed the path and evolution of the business, both internally and externally. Prestwick Construction President Jonathan Stickler reflected on this philosophy and what it means as the Company becomes an ESOP.
“With the best interests of our employees and customers in mind, becoming a 100% employee-owned business secures the Company’s future for all. We believe our employee-owned culture and benefits will help us retain our talented employees, recruit new talent, and continue to provide good jobs locally,” Stickler commented. “Our ESOP is the perfect embodiment of our company culture where we work as a team. The people that make up this company and their contributions are what makes Prestwick Construction great. Our company stands here today because of their efforts day in and day out and I’m thankful for each and every one of our new employee owners. Prestwick Construction’s goal is to create an environment where everyone, no matter their job, strives to have a positive impact in the company and their communities and thinks and acts like a businessperson."
Jonathan Stickler stepped into the role of President after being promoted from VP of Construction Services on January 1 of this year. In addition, founders Darien Lee and Jody Tucker remain active in the company as members of the board of directors with Prestwick Construction.
As Prestwick Construction transitions to 100% employee-ownership, the future is promising. Lazear Capital Partners congratulates founders Ray Dotson, Jody Tucker, Ken Blankenship, Darien Lee and the entire Prestwick team on their successful ESOP transaction.
About Prestwick Construction Company
Prestwick Construction Company delivers unique, high-quality Multifamily projects for Market Rate, Affordable Housing, LIHTC, and Renovations. Prestwick provides unsurpassed industry experience and operates with distinction.