Vance Outdoors transfers 100% of company ownership to its employees via ESOP
After 83 years of significant expansion and growth, Vance Outdoors, Inc. embarks on its next chapter
Lazear Capital Partners is pleased to announce the successful transfer of 100% of Vance Outdoors, Inc company ownership to its employees via an Employee Stock Ownership Plan (ESOP). Third generation co-owners, Todd and Doug Vance, partnered with Lazear Capital Partners (LCP) to facilitate the transaction. Founded in 1938, Vance Outdoors is a premier provider of firearms, ammunition, hunting, fishing, and other recreational merchandise to the Central Ohio region.
While the company’s operation has expanded and evolved over the last 83 years, co-owners Todd and Doug Vance credit much of the preservation of their brand’s hard-won respect as a leader in the industry to Vance’s employees – some of whom have built long-tenured careers with the company.
“Our mission of ensuring that each of our customers have a great shopping experience at Vance's is only made possible by our employees. Preserving the heritage that 83 years of business brings was incredibly important to us and we also wanted to ensure that any sale would protect our staff. So, when the option of an employee stock ownership plan was presented to my brother Doug and I, it just made sense. We’re immensely proud of the outcome and optimistic about Vance Outdoors’ ongoing ability to serve our customers’ needs over a long horizon under the ownership of our employees.” said Todd Vance, one of Vance’s third generation co-owners.
The Lazear Capital team shares in the enthusiasm of Todd and Doug’s goal of creating a sustainable future for the company through an ESOP structure to bring Vance Outdoors to its 100 year anniversary. Vance Outdoors’ commitment to preserving their heritage while extending their legacy into the future in an inclusive way is commendable. Lazear Capital Partners team is proud to have been a part of this process and extends a hearty congratulations to Todd, Doug and the entire Vance Outdoors team.
About Vance Outdoors, Inc.
Vance Outdoors, Inc. is recognized as the premier provider of firearms, ammunition, hunting, fishing, and other recreational merchandise in the Central Ohio region. Started in 1938 as a general store, Vance has passed through three generations preserving the same ideal of valuing their customers by providing the best products and customer service available. As a staple of the local community, Vance’s depth of management, relationships with vendors, and expansive selection of firearms and recreational products allows it to provide the product selection of a large retailer with the integrity and consumer care of a neighborhood shop.