Drake Cooper Completes Sale to Employee Stock Ownership Plan (ESOP)

Drake Cooper has announced the successful transfer of 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP). On December 1, CEO Jamie Cooper transferred 100% ownership of the company to its employees retroactively, creating a full year of stock accumulation for 2020.

An ESOP — a qualified retirement plan that buys, holds, and sells company stock for the benefit of the employees, providing them with an ownership stake in the company — provided the ability to slowly transition leadership of the company over time, and reward the team who helped the company be successful.

 About Drake Cooper 

Drake Cooper, founded in 1978 by Bill Drake, is one of Idaho’s oldest advertising agencies. It is a full-service, and independently owned advertising agency with offices in Boise, Idaho, and Seattle, Washington.  In a first for Idaho creative agencies and one of only a few in the Northwest, Drake Cooper is now an ESOP company.

"We’ve always believed our people are the key to our clients’ success and therefore to our agency’s success and longevity. This new chapter is an extension of who this agency has always been and the values we’ve always tried to uphold. I am very excited for our new employee-owners and this journey we will all take together,” Cooper states.  

About ESOP Partners

ESOP Partners is an ESOP consulting and administration firm in Appleton, WI, assisted with the sale and will continue to work with the company as the ESOP consultant and third-party administrator. ESOP Partners changes lives by creating wealth and sustainable employment through employee ownership and works with business owners and companies to determine if an ESOP is a good fit for their situation. ESOP Partners establishes, maintains, and sustains employee stock ownership plans (ESOPs) throughout the lifecycle to maximize the benefits of being an ESOP company and provide employees with an ownership stake in the company that they work for.

 About ESOPs

Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company. ESOPs are the only retirement plan allowed to borrow money to purchase stock and are generally funded only by the company. Selling part or all of a business to an ESOP enables a business owner to sell to a built-in buyer in as little as 90 days at full fair market value. There are many significant tax and cash flow benefits of selling to an ESOP. An ESOP also allows for a better-managed ownership transition, preservation of local jobs, and the maintenance of a company’s legacy in the community. According to the National Center for Employee Ownership (NCEO) there are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees. There are less than 2,500 ESOP companies that are 100% owned by their employees.

Read their full press release here. 

Read a special story about Drake Cooper's announcement, "Christmas in Boise: Boise Ad Agency Employees Become Owners," published by Nonprofit Quarterly Magazine.  

Neu Tool & Supply Corp., Inc Completes Sale to Employee Stock Ownership Plan (ESOP)

Neu Tool & Supply Corp., Inc. has announced the successful transfer of 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP). 

An ESOP — a qualified retirement plan that buys, holds, and sells company stock for the benefit of the employees, providing them with an ownership stake in the company — provided the ability to slowly transition leadership of the company over time, and reward the team who helped the company be successful.

 About Neu Tool & Supply Corp., Inc. 

Neu Tool & Supply Corp., Inc. was founded in 1964 and is located in New Berlin, WI, a suburb of Milwaukee. They are a full line warehouse distributor with clients ranging from mobile and industrial tool distributors to parts and paint stores across the nation. They are a premier source for tools, equipment and auto body supplies.

About ESOP Partners

ESOP Partners is an ESOP consulting and administration firm in Appleton, WI, assisted with the sale and will continue to work with the company as the ESOP consultant and third-party administrator. ESOP Partners changes lives by creating wealth and sustainable employment through employee ownership and works with business owners and companies to determine if an ESOP is a good fit for their situation. ESOP Partners establishes, maintains, and sustains employee stock ownership plans (ESOPs) throughout the lifecycle to maximize the benefits of being an ESOP company and provide employees with an ownership stake in the company that they work for.

 About ESOPs

Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company. ESOPs are the only retirement plan allowed to borrow money to purchase stock and are generally funded only by the company. Selling part or all of a business to an ESOP enables a business owner to sell to a built-in buyer in as little as 90 days at full fair market value. There are many significant tax and cash flow benefits of selling to an ESOP. An ESOP also allows for a better-managed ownership transition, preservation of local jobs, and the maintenance of a company’s legacy in the community. According to the National Center for Employee Ownership (NCEO) there are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees. There are less than 2,500 ESOP companies that are 100% owned by their employees.

Quadrant Holding Co., Inc Completes Sale to Employee Stock Ownership Plan (ESOP)

Quadrant Holding Co., Inc. dba AKC Marketing, REL Productions and Dwebware has announced the successful transfer of 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP). 

An ESOP — a qualified retirement plan that buys, holds, and sells company stock for the benefit of the employees, providing them with an ownership stake in the company — provided the ability to slowly transition leadership of the company over time, and reward the team who helped the company be successful.

 About Quadrant Holding Co., Inc.

Quadrant Holding Co., Inc., dba AKC Marketing (full service marketing/advertising agency), REL Productions (full service video production) and Dwebware (full service software development).

About ESOP Partners

ESOP Partners is an ESOP consulting and administration firm in Appleton, WI, assisted with the sale and will continue to work with the company as the ESOP consultant and third-party administrator. ESOP Partners changes lives by creating wealth and sustainable employment through employee ownership and works with business owners and companies to determine if an ESOP is a good fit for their situation.

 About ESOPs

Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company. ESOPs are the only retirement plan allowed to borrow money to purchase stock and are generally funded only by the company. Selling part or all of a business to an ESOP enables a business owner to sell to a built-in buyer in as little as 90 days at full fair market value. There are many significant tax and cash flow benefits of selling to an ESOP. An ESOP also allows for a better-managed ownership transition, preservation of local jobs, and the maintenance of a company’s legacy in the community. According to the National Center for Employee Ownership (NCEO) there are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees. There are less than 2,500 ESOP companies that are 100% owned by their employees.

ESOP Partners to speak at Northeast Regional Virtual Conference

 ESOP Partners is proud to be a speaker at The ESOP Association's Northeast Regional Virtual Conference on September 29-30th.  This is a special virtual event for members of the Pennsylvania/Delaware, New York/New Jersey, and New England Chapters. 

ESOP Partners to Sponsor and Speak at 2020 NCEO Fall Forum

ESOP Partners is proud to be a sponsor and speaker at NCEO's 2020 Fall Forum being held virtually on September 14-16. 

ESOP Partners to Sponsor and Speak at The ESOP Association's Annual Midwest Regional Conference 2020

ESOP Partners will sponsor and speak at The ESOP Association's Virtual Midwest Conference held September 17-18, 2020.  

This year’s Midwest Regional Event has gone virtual - ensuring a safe and invaluable experience for all attendees.

State of the Company Update (July 2020)

A lot has happened so far in 2020.  We started the year with a strong economy and one of the most prolific M&A markets in history, making it a great time for existing ESOP companies and the formation of new ESOPs. On March 1 we celebrated the one-year anniversary of the opening of our new ESOP Partners corporate headquarters and the Employee Ownership Training Center (EOTC).

ESOP Partners' President, Aaron Juckett, takes a moment to provide a State of the Company update. Read the full update here

Stay up to date with the latest ESOP Partners' news, events and blogs!   Subscribe

ESOP Partners a Premier Sponsor and Speaker at NCEO 2020 Virtual Annual Conference

ESOP Partners is proud to be a Premier Sponsor and speaker at NCEO's 2020 Virtual Annual Conference being held April 20-22.  



ESOP Partners Hosts Information Forums: Managing your ESOP in Uncertain Times

You are likely receiving a lot of information about what companies are doing in response to COVID-19 (Coronavirus).  This is a fluid situation and we don’t have all of the answers at this time.  However, we do think it is important to be a resource for you. 

ESOP Partners a Premier Sponsor and Expert Led Roundtable Facilitator at NCEO 2020 Employee Ownership Conference

ESOP Partners is a Premier Sponsor of NCEO's 2020 Employee Ownership Conference being held April 21-23 at the Minneapolis Convention Center in Minneapolis, MN.