{"id":3701,"date":"2016-08-24T11:55:39","date_gmt":"2016-08-24T15:55:39","guid":{"rendered":"https:\/\/www.stevenslee.com\/sesesop\/?post_type=transaction&p=3701"},"modified":"2026-07-31T11:44:37","modified_gmt":"2026-07-31T15:44:37","slug":"csf-corporation","status":"publish","type":"transaction","link":"https:\/\/www.stevenslee.com\/sesesop\/outcome\/csf-corporation\/","title":{"rendered":"ESOP Exit as a Vehicle for Management and Employee Liquidity"},"content":{"rendered":"

ESOP Exit as a Vehicle for Management and Employee Liquidity<\/h1>\n

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

CSF Inc., headquartered in Somerset, NJ, was established in 1988 and is a leader in communications and OSS (Operations Support Systems) software, with a focus on service activation and provisioning. Hosted in the cloud, CSF\u2019s SaaS software is considered mission critical to organizations acquiring and provisioning millions of toll free numbers on behalf of thousands of companies in North America and the Caribbean. CSF\u2019s software is best of class in the telecommunications industry, and thus the company enjoys a high customer retention rate as well as a nearly 100% customer satisfaction rating.<\/p>\n

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

As an employee owned company, CSF was seeking an attractive liquidity event for management and its employees. CSF\u2019s co-founders agreed that finding the right investor would be in the best interest of the shareholder employees, customers and partners.<\/p>\n

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

Griffin was engaged by the company for the purpose of finding an investor to provide liquidity and assist with management succession. Pursuant to the engagement and as a result of Griffin\u2019s efforts, Alpine Investors was selected. On August 8, 2016, Alpine Investors V, LP (\u201cAlpine\u201d), closed on the stock purchase of CSF.<\/p>\n

\u201cBeing an employee owned company presented some tough challenges, but we are thrilled with the outcome. Alpine was the right choice for the ongoing success of our employees and customers,\u201d said Steve Levinn, President of CSF Corp. According to Billy Maguy, Partner of Alpine Investors, \u201cIt is rare when we find a people first culture that matches our firm\u2019s values, so when we were introduced to CSF we immediately saw the potential for a special partnership. We love this space as well as CSF\u2019s commitment to its employees and customers.\u201d<\/p>\n

For more information on this transaction, please contact\u00a0Mark B. Russell<\/a>, Senior Managing Director, at 610.478.2166.<\/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-3701","transaction","type-transaction","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\nESOP Exit as a Vehicle for Management and Employee Liquidity - 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\/csf-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESOP Exit as a Vehicle for Management and Employee Liquidity - 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\/csf-corporation\/\" \/>\n<meta property=\"og:site_name\" content=\"SES ESOP Strategies\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-31T15:44:37+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\\\/csf-corporation\\\/\",\"url\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/csf-corporation\\\/\",\"name\":\"ESOP Exit as a Vehicle for Management and Employee Liquidity - SES ESOP Strategies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/#website\"},\"datePublished\":\"2016-08-24T15:55:39+00:00\",\"dateModified\":\"2026-07-31T15:44:37+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\\\/csf-corporation\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/csf-corporation\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.stevenslee.com\\\/sesesop\\\/outcome\\\/csf-corporation\\\/#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\":\"ESOP Exit as a Vehicle for Management and Employee Liquidity\"}]},{\"@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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