{"id":3687,"date":"2019-08-24T12:13:57","date_gmt":"2019-08-24T16:13:57","guid":{"rendered":"https:\/\/www.stevenslee.com\/sesesop\/?post_type=transaction&p=3687"},"modified":"2026-07-31T10:18:55","modified_gmt":"2026-07-31T14:18:55","slug":"valsource","status":"publish","type":"transaction","link":"https:\/\/www.stevenslee.com\/sesesop\/outcome\/valsource\/","title":{"rendered":"Company Moves From Partial to Complete Employee Ownership"},"content":{"rendered":"

Company Moves From Partial to Complete Employee Ownership<\/h1>\n

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

Headquartered in Downingtown, PA,\u00a0ValSource<\/a>\u00a0is one of North America\u2019s largest independent pharmaceutical, medical and biological validation services companies. The Company has more than 350 full-time engineering and validation employees and consults with clients nationwide. ValSource was founded in 1996 and prides itself on its core principles of integrity, efficiency, innovation and knowledge.<\/p>\n

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

In 2016, ValSource engaged SES ESOP Strategies to complete a minority employee stock ownership plan (ESOP) transaction. Following that initial transaction, the ESOP owned just over 36% of ValSource. Seeking to become 100% employee-owned, ValSource management again reached out to SES in order to complete a second-stage ESOP transaction.<\/p>\n

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

ValSource engaged SES to assist it in structuring a transaction whereby all of the Company\u2019s outstanding stock not owned by the current ESOP would either be sold to the ESOP or redeemed by the Company. SES professionals compiled extensive due diligence information, structured the transaction, negotiated the sale of stock to the ESOP and managed the closing of the transaction. In addition, the team at SES assisted in structuring a new credit facility from M&T Bank, the company\u2019s existing lender. ValSource completed the C Corporation sale utilizing a \u00a71042 tax deferral. At the close of the transaction, ValSource became a 100% employee-owned Company, with the ESOP as the sole shareholder.<\/p>\n

\u201cWe are pleased with the work SES ESOP Strategies did during our initial minority transaction and were happy to choose the firm to assist us in becoming 100% employee-owned,\u201d said David Calvaresi, Chairman of the Board. \u201cThis is a significant step for us and we\u2019re very proud to make this final step of full employee ownership.\u201d<\/p>\n

For more information on this transaction, please contact\u00a0Jim Steiker<\/a>\u00a0at 215.508.5643,\u00a0Sean-Tamba Matthew<\/a>\u00a0at 215.508.7705 or\u00a0Ken Wanko<\/a>\u00a0at 215.508.7707.<\/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-3687","transaction","type-transaction","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\nCompany Moves From Partial to Complete Employee Ownership - 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\/valsource\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Company Moves From Partial to Complete Employee Ownership - 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\/valsource\/\" \/>\n<meta property=\"og:site_name\" content=\"SES ESOP Strategies\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-31T14:18:55+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\\\/valsource\\\/\",\"url\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/valsource\\\/\",\"name\":\"Company Moves From Partial to Complete Employee Ownership - SES ESOP Strategies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/#website\"},\"datePublished\":\"2019-08-24T16:13:57+00:00\",\"dateModified\":\"2026-07-31T14:18:55+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\\\/valsource\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/valsource\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/valsource\\\/#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\":\"Company Moves From Partial to Complete Employee Ownership\"}]},{\"@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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