{"id":3603,"date":"2023-03-01T12:15:11","date_gmt":"2023-03-01T17:15:11","guid":{"rendered":"https:\/\/www.stevenslee.com\/sesesop\/?post_type=transaction&p=3603"},"modified":"2026-07-31T10:54:59","modified_gmt":"2026-07-31T14:54:59","slug":"mitchell-martin-inc","status":"publish","type":"transaction","link":"https:\/\/www.stevenslee.com\/sesesop\/outcome\/mitchell-martin-inc\/","title":{"rendered":"Socially-Minded Staffing Firm Committed to Culture and Long-Term Growth in Establishing Minority ESOP"},"content":{"rendered":"

Socially-Minded Staffing Firm Committed to Culture and Long-Term Growth in Establishing Minority ESOP<\/h1>\n

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

Mitchell Martin Inc.<\/a> (Mitchell Martin)\u00a0is one of the nation\u2019s largest private staffing companies with offices throughout the U.S., India and the Philippines. They drive success for both people and companies by building strong relationships and developing a deep understanding of the people they work with in order to facilitate the best matches for both sides of the employment equation.<\/p>\n

Mitchell Martin was forged from socially-minded roots and the company\u2019s passion for helping people hasn\u2019t wavered. Founder Eugene Holtzman was a social worker prior to starting the company in 1984. He then decided to combine his desire to help people with his belief that technology was the future of business. Both of these tenets continue to drive Mitchell Martin and have propelled the organization to being among the leading IT and health care staffing firms in the U.S.<\/p>\n

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

Mr. Holtzman and the Mitchell Martin team understood the importance of accelerating the company\u2019s expansion as part of his ownership transition strategy. Additionally, Mr. Holtzman desired to remain involved in company operations and lead the company\u2019s acquisition strategy. Mitchell Martin engaged SES ESOP Strategies to perform a transaction analysis that evaluated multiple ESOP transaction structures to create a long-term benefit for its employees, create liquidity for shareholders, and help grow the company in line with the company\u2019s leadership succession goals.<\/p>\n

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

Based on the company\u2019s business plan and long-term strategy, it was determined that the best solution for Mitchell Martin was a minority ESOP transaction. SES led the entire life cycle of the transaction, which included modelling various structures, engaging and negotiating the transaction with the ESOP trustee and its financial advisor, raising the necessary third-party bank financing and managing the trustee and bank financial due diligence. SES ran a highly competitive capital raise process, receiving multiple attractive term sheets from potential lenders, despite a difficult banking environment. SES secured an Asset-Based Revolving Credit from a third-party banking institution that produced a favorable outcome for the selling shareholders and company. The legal process was managed by SES\u2019s partners at Stevens & Lee.<\/p>\n

Notably, Mitchell Martin was already a Subchapter S Corporation, and the company remained a Subchapter S Corporation after the completion of the transaction. Since the company is now an S Corporation partially owned by an ESOP, the company will effectively be exempt from corporate income taxes to the extent of the ESOP ownership, and the ESOP\u2019s share of tax distributions previously used to pay federal and state income taxes can now be utilized to pursue business growth strategies.<\/p>\n

For more information about this ESOP transaction, please contact SES President and CEO\u00a0Ed Renenger<\/a>\u00a0at 610.478.2238, Managing Director\u00a0Ken Wanko<\/a>\u00a0at 215.285.7190 or\u00a0Vice President\u00a0Vince Capone<\/a>\u00a0at 215.508.7716.<\/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-3603","transaction","type-transaction","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\nSocially-Minded Staffing Firm Committed to Culture and Long-Term Growth in Establishing Minority 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\/mitchell-martin-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Socially-Minded Staffing Firm Committed to Culture and Long-Term Growth in Establishing Minority 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\/mitchell-martin-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"SES ESOP Strategies\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-31T14:54:59+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=\"3 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\\\/mitchell-martin-inc\\\/\",\"url\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/mitchell-martin-inc\\\/\",\"name\":\"Socially-Minded Staffing Firm Committed to Culture and Long-Term Growth in Establishing Minority ESOP - SES ESOP Strategies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/#website\"},\"datePublished\":\"2023-03-01T17:15:11+00:00\",\"dateModified\":\"2026-07-31T14:54:59+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\\\/mitchell-martin-inc\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/mitchell-martin-inc\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/mitchell-martin-inc\\\/#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\":\"Socially-Minded Staffing Firm Committed to Culture and Long-Term Growth in Establishing Minority 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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