{"id":3571,"date":"2024-04-01T09:09:17","date_gmt":"2024-04-01T13:09:17","guid":{"rendered":"https:\/\/www.stevenslee.com\/sesesop\/?post_type=transaction&p=3571"},"modified":"2026-07-30T14:10:50","modified_gmt":"2026-07-30T18:10:50","slug":"proconex","status":"publish","type":"transaction","link":"https:\/\/www.stevenslee.com\/sesesop\/outcome\/proconex\/","title":{"rendered":"Technically Specialized Business Values Dedicated Professionals and Becomes Minority-Owned ESOP"},"content":{"rendered":"

Technically Specialized Business Values Dedicated Professionals and Becomes Minority-Owned ESOP<\/h1>\n

Overview<\/strong><\/p>\n

Across more than 75 years since its founding,\u00a0Proconex<\/a>\u00a0has been a leading provider of process automation control systems and related technologies in the Mid-Atlantic region. The company, with affiliated companies Valspec and Atlantic Valve Services and in partnership with Emerson and its portfolio of industrial services, has served diverse industries spanning life sciences, chemicals, energy, refining, oil and gas, food and beverage, paper and metals, among others. Business leaders attribute company success to the specialized workforce that has remained dedicated to technical excellence and delivering top-tier customer service.<\/p>\n

Situation<\/strong><\/p>\n

Proconex sought a business transition plan that would provide some liquidity for its shareholder and begin to transfer ownership internally to employees. The company also aimed to remain independent and continue as a management-driven enterprise that attracts the most talented employees and rewards them with equity ownership.<\/p>\n

Solution<\/strong><\/p>\n

Proconex engaged SES ESOP Strategies\u2019 affiliated law firm\u00a0Stevens & Lee<\/a>\u00a0to provide legal work for establishing an ESOP trust and completing a minority ESOP transaction. The SES team assisted with financial due diligence, modeling ESOP structures and negotiating financial terms with the lender, and Stevens & Lee attorneys helped negotiate the financing of the ESOP transaction. Proconex accomplished the ESOP transaction in April 2024.<\/p>\n

\u201cOur skilled professionals drive the success of our business, so we\u2019re thrilled to reward and motivate their commitment to technical excellence and customer satisfaction,\u201d said John Otte, President and formerly the sole shareholder of Proconex. \u201cThe ESOP transaction allowed me to begin a liquidity and succession process internally, and Stevens & Lee was integral in delivering pragmatic guidance across all phases of our ESOP transition.\u201d<\/p>\n

For more information on this transaction, please contact\u00a0Jim Steiker<\/a>, Chairman of SES ESOP Strategies, at\u00a0215.508.5643, or\u00a0Vince Capone<\/a>, Vice President, at\u00a0215.508.7716<\/span>.<\/p>\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-3571","transaction","type-transaction","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\nTechnically Specialized Business Values Dedicated Professionals and Becomes Minority-Owned ESOP - SES ESOP Strategies<\/title>\n<meta name=\"description\" content=\"Waldron engaged SES ESOP Strategies, along with its affiliated law firm,\u00a0Stevens & Lee, to structure the new ESOP plan and guide the Company through the transaction process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stevenslee.com\/sesesop\/outcome\/proconex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Technically Specialized Business Values Dedicated Professionals and Becomes Minority-Owned ESOP - SES ESOP Strategies\" \/>\n<meta property=\"og:description\" content=\"Waldron engaged SES ESOP Strategies, along with its affiliated law firm,\u00a0Stevens & Lee, to structure the new ESOP plan and guide the Company through the transaction process.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.stevenslee.com\/sesesop\/outcome\/proconex\/\" \/>\n<meta property=\"og:site_name\" content=\"SES ESOP Strategies\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-30T18:10:50+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/proconex\\\/\",\"url\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/proconex\\\/\",\"name\":\"Technically Specialized Business Values Dedicated Professionals and Becomes Minority-Owned ESOP - SES ESOP Strategies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/#website\"},\"datePublished\":\"2024-04-01T13:09:17+00:00\",\"dateModified\":\"2026-07-30T18:10:50+00:00\",\"description\":\"Waldron engaged SES ESOP Strategies, along with its affiliated law firm,\u00a0Stevens & Lee, to structure the new ESOP plan and guide the Company through the transaction process.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/proconex\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/proconex\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/proconex\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Transactions\",\"item\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/transaction\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Technically Specialized Business Values Dedicated Professionals and Becomes Minority-Owned ESOP\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/#website\",\"url\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/\",\"name\":\"Griffin Financial Group\",\"description\":\"TAILORED ESOP SOLUTIONS. 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