Commercial Financial Consulting, LLC (Press Release) pioneered an SBA backed Employee Stock Ownership Plan (ESOP) agreement which closed in October 2019 with General Auto Recycling, Inc. which was founded in 1979. This landmark transaction was unique with no personal guarantee required, no loss of key personnel, and no quarrel over price.
The company has approximately 35 employees, some with over 30 years of service. They will now be owners via the ESOP which is tax exempt. A way of giving back to key personnel and employees for their years of service. The company recycles used auto parts throughout the northeast, delivers to car dealers and repair shops, and individuals online.
If you or your client is interested in selling their company and giving their employees an opportunity of ownership, please call (508)-833-3833.