The sale of a private business to an ESOP can seem like a very different beast than a typical business transaction. There are, of course, components of a sale to an ESOP that you won’t find in a third-party sale or a family transfer, but there also similarities. For this episode we talk with attorney Avery Chenin of SES ESOP Strategies on outlining, and demystifying, a sale to an ESOP. We discuss the process of selling a business to employees using an ESOP; what steps need to be taken; what professionals need to be involved; how long the process may take; and the financial benefits of an ESOP transaction for the owner, the business, and employees. There are two parts to the episode, the first is an outline of the process, and the second is an update takes into account the current economic situation and how this impacts a sale to an ESOP
***Please reach out to us with your employee ownership story by emailing oeoc@kent.edu***
Avery Chenin: https://sesesop.com/team_member/avery-chenin/
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