CHICAGO, IL —AArete today announced the implementation of an employee stock ownership plan (ESOP), giving its employees stake through share ownership in the company.Verit Advisors, a Chicago-based investment banking firm, advised AArete on ESOP sale alternative, which ultimately led to the ESOP transaction.
Loren Trimble CEO of AArete says “This is the most significant event we have accomplished since inception.We believe our employees are the source of serving clients at a high-level of excellence and, consequently, this will be a launching pad for continued growth to help us share the benefits of success with the entire employee base.”
John Solimine, founding member and Managing Director of Verit Advisors added, “An ESOP was a perfect extension of AArete’s guiding principles and belief in the value of their employee partners.It was an honor to partner with the founders in structuring the transaction and securing attractive financing that will support the company for years to come.”
Verit Principal Rob Ruszkowski further stated “AArete is an outstanding Chicago company with huge upside potential.We believe the ESOP will continue the founder’s vision of an employee-centric culture and support the company in its growth trajectory.”
About Verit Advisors LLC
Verit Advisors unites sophisticated investment banking capabilities with a client centric boutique, fluent in ESOPs, debt capital markets, mergers and acquisitions, and valuation services. Integrity, teamwork, service, and innovation are at the heart of the organization, as Verit strives to provide unparalleled advice and custom solutions to its clients. Mary Josephs founded Verit Advisors in 2009.Josephs and her team are considered to be one of the foremost experts in ESOP transactions and middle market strategic alternatives. For more information visit www.verit.com.
AArete is a management consulting firm that specializes in operational performance improvement and strategic cost reduction. We work with our clients across all industries and business functions to optimize their profits in a compressed timeframe and without reducing people. AArete identifies and implements significant bottom line improvements through strategic cost reduction methodologies, advanced analytics, proprietary revenue cycle optimization techniques, and the Knowledge Management Center™, an internal intellectual property repository with benchmarking data and industry focused studies. For more information visit www.aarete.com.