Established in Philadelphia more than 100 years ago,\u00a0Stockwell Elastomerics<\/a>\u00a0(Stockwell) has expanded across four generations of leadership to become a national supplier of custom gasket solutions to original equipment manufacturers and users of specialized equipment across the country\u2019s technology sector. The company has evolved to deliver high end, rapid response capabilities in gasket design and manufacturing to help customers quickly clear performance challenges. Leadership at Stockwell believes that the company\u2019s success derives from its commitment to employee culture, which combines the specialized skill and knowledge of its production workforce and the dedicated client support of its customer service teams.<\/p>\n Situation<\/strong><\/p>\n Stockwell\u2019s owner sought a business transition plan that would strengthen the company\u2019s employee-centered culture, provide future growth rewards to its employees and sustain long-term business growth as an independent company. Though the company had already implemented a minority employee stock ownership plan (ESOP), business leadership was determined to keep the company and its operation with its employees. The company and its majority shareholder decided to proceed to a full 100% ESOP ownership with additional employee ownership protections.<\/p>\n Solution<\/strong><\/p>\n Stockwell engaged SES ESOP Strategies, which assisted with the initial minority ESOP plan, to structure the new transaction. SES conducted\u00a0financial due diligence<\/a>\u00a0and modeled the\u00a0proposed ESOP plan<\/a>. Following the transaction, Stockwell became a 100% ESOP-owned S Corporation, effectively exempt from current corporate federal and state income taxes.<\/p>\n \u201cOur company\u2019s success is founded on our employee culture of delivering top-quality products with attentive client service, so we\u2019re proud that this business transition rewards the skill and dedication of our workforce with company equity,\u201d said Bill Stockwell, Chief Technical Officer and Chairman of Stockwell. \u201cSES provided strategic guidance through the technical details that allowed the company to remain independent and its employees to directly benefit from its future success.\u201d<\/p>\n For more information, please contact\u00a0Jim Steiker<\/a>, Chairman, at 215.508.5643 or\u00a0Sean-Tamba Matthew<\/a>\u00a0at 215.508.7705.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"featured_media":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false},"categories":[],"tags":[],"class_list":["post-3560","transaction","type-transaction","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\n
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