Easling Construction Sells to ESOP
Easling Construction, a well-known homebuilder, full service home maintenance company, and the largest privately-held Employer in Leelanau County, announced it was selling the company to its employees via an Employee Stock Ownership Plan (ESOP). This announcement was made on Saturday at the annual Holiday party to an enthusiastic crowd of employees and guests. “You are my family, I sold my company to you,” Marty said as the crowd responded with a roar of applause, hugs and tears of joy. “I’ve attended a lot of ESOP announcements, but this was the most magical one yet,” said Jeremy Garrett the Investment Banker from Lazear Capital Partners who coordinated the sale of the Company to the ESOP. “You can tell people genuinely trust Marty and he is deeply admired by his employees and the community”.
For Marty Easling, founder and CEO of Easling Construction, the sale to his team was the perfect solution. “It is a smart financial move for the company but more importantly,” Marty explained, “it provided the ongoing opportunities for my loyal and talented team that I wanted.” With nearly 100 employees working and living in the area the company is important to the economic health of the area.
ECC will continue to provide the same exceptional level of quality. “Our maintenance division has grown by 800% since the recent recession and our shoreline protection business has quadrupled in the past 2 years due to the high lake levels."
“Over the past 44 years, we’ve enjoyed tremendous success and the employees drove those results.
Importantly,” Marty added, “I am not going anywhere, I love Leelanau County and want the best for my team, my clients, and the economic health of the region that has been my home my entire life.” Selling to the ESOP is a way for Marty to give back to those who worked hard in building the business, while insuring his legacy.
The transaction was arranged and managed by Lazear Capital Partners, an investment banking firm specializing in ESOP transactions. They were hired to ensure the transaction met Marty’s personal goals and ambitions for the future of Easling Construction.