{"id":3611,"date":"2022-12-01T12:36:54","date_gmt":"2022-12-01T17:36:54","guid":{"rendered":"https:\/\/www.stevenslee.com\/sesesop\/?post_type=transaction&p=3611"},"modified":"2026-07-31T11:00:53","modified_gmt":"2026-07-31T15:00:53","slug":"renova-environmental-company","status":"publish","type":"transaction","link":"https:\/\/www.stevenslee.com\/sesesop\/outcome\/renova-environmental-company\/","title":{"rendered":"Environmental Remediation Business Bolsters Employee-centric Values, Transitions to Employee-owned Model"},"content":{"rendered":"

Environmental Remediation Business Bolsters Employee-Centric Values, Transitions to Employee Owned Model<\/h1>\n

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

Renova Environmental Company<\/a> (Renova) has completed more than 2,200 projects since its 2006 founding in New Jersey, the state with the highest amount of superfund sites in the country. What started as a minority-owned company that offered residential oil tank contracting services has flourished under the Small Business Association\u2019s (SBA) 8(a) Business Development Program, and now excels as a prime contractor for federal and private clients. Renova values safety, quality, sustainability and a team-oriented approach among employees to further grow within the environmental remediation and restoration space.<\/p>\n

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

Renova leadership sought a business model that would strengthen its performance after the company graduated from the SBA\u2019s 8(a) Business Development program. The goal was to recognize employees\u2019 value through broad-based company ownership, sustain long-term growth and allow the company to remain independent. An employee stock ownership plan (ESOP) met all these needs.<\/p>\n

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

Renova engaged SES ESOP Strategies\u2019 affiliated law firm,\u00a0Stevens & Lee<\/a>, to provide\u00a0legal work<\/a>\u00a0for establishing an ESOP trust and completing a minority ESOP transaction. Stevens & Lee affiliate\u00a0Stevens & Lee Public Affairs<\/a>, a New Jersey-focused provider of legislative, government process and regulatory affairs consultation, assisted with key New Jersey environmental regulatory requirements that had not previously considered ESOP ownership. Company stock was purchased by the ESOP and the transaction closed in December 2022.<\/p>\n

\u201cI believe in a more equitable distribution of wealth, and employee ownership allows us to reward the loyalty and dedication of our employees,\u201d said Paulo Rodriguez Heyman, President and Founder of Renova. \u201cStevens & Lee was a great partner throughout the transaction, handling complex issues and clearing hurdles with efficiency and quality service. They provided valuable assistance across this company-changing transition.\u201d<\/p>\n

For more information on this transaction, please contact\u00a0Sean-Tamba Matthew<\/a> at 215.508.7705.<\/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-3611","transaction","type-transaction","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\nEnvironmental Remediation Business Bolsters Employee-centric Values, Transitions to Employee-owned Model - 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\/renova-environmental-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Environmental Remediation Business Bolsters Employee-centric Values, Transitions to Employee-owned Model - 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\/renova-environmental-company\/\" \/>\n<meta property=\"og:site_name\" content=\"SES ESOP Strategies\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-31T15:00:53+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\\\/renova-environmental-company\\\/\",\"url\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/renova-environmental-company\\\/\",\"name\":\"Environmental Remediation Business Bolsters Employee-centric Values, Transitions to Employee-owned Model - SES ESOP Strategies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/#website\"},\"datePublished\":\"2022-12-01T17:36:54+00:00\",\"dateModified\":\"2026-07-31T15:00:53+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\\\/renova-environmental-company\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/renova-environmental-company\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/renova-environmental-company\\\/#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\":\"Environmental Remediation Business Bolsters Employee-centric Values, Transitions to Employee-owned Model\"}]},{\"@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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