Kwest Group Becomes 100% Employee Owned
Kwest Holdings, Inc., and its operating subsidiary K. West Group, LLC, (collectively “Kwest” or the “Company”) is pleased to announce the transition to employee ownership by becoming a 100% Employee Stock Ownership Plan (ESOP) Trust.
Kwest is a Perrysburg, OH-based, award-winning merit-shop civil construction and environmental services company, providing a broad range of construction services in multiple market sectors including energy, petrochemical, railway, airfield, public & defense, and clearing. Along with its Perrysburg headquarters, Kwest has satellite offices in Dublin, Ohio and Rockwall, Texas. The Company is registered/licensed in 37 states to execute complex, safety stringent, high-quality projects for its targeted customers.
The owners of Kwest evaluated multiple ownership transition solutions and decided that an ESOP represented the best solution for the long-term future of the company, including the shareholders, clients, business partners, and most importantly the Kwest family of employees. The formation of an ESOP, led by the Lazear Capital Team, provided Kwest with a thoughtful transition plan that maximized value for the selling owners while providing Kwest's team members with a valuable financial interest in the success of the business.
Mark Murray, Managing Member and the founding, Managing Partner of Kwest, commented that “For several years, my partner, Ryan Odendahl (President) and I, had been considering options for the succession of our growing business. The Lazear Capital team worked with our team reviewing strategic alternatives as well as introducing us to the ESOP option. The extensive knowledge and historical track record that the Lazear Capital team has with ESOP transactions provided the education and insight needed to understand the significant value that ESOPs provide to both the selling shareholders and Kwest’s employees. The Lazear Capital team was supportive, informative and patient with our team as we worked through this very important decision. They also helped to get Kwest in an optimal position for an ESOP transaction.”
“In the end, we decided selling Kwest to our employees through the ESOP would allow our team and culture to remain in place. Additionally, it was the best option for the selling shareholders personally, Kwest’s employees, and Kwest’s clients and business partners. The Kwest and Lazear Capital teams came together to help achieve this important milestone and positioned Kwest for a successful future. Kwest’s clients and business partners will continue to be serviced by the same strong Kwest team.”