Heritage Capital Group, an investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide, is pleased to announce that its client, Woodsman Kitchens and Floors, Inc., has completed an Employee Stock Ownership Plan. As an ESOP, the company is now owned by its employees through the Woodsman ESOP Trust.
Woodsman is a leading provider of quality cabinetry, countertops, and flooring to builders, remodeling contractors, and homeowners in the Northeast Florida market. The Company was founded in 1983 by Rick Woods.
“It gives me great pleasure to sell my company to my employees, many of whom have been instrumental in helping me grow the company over the past 40 years,” commented Rick Woods. “Heritage helped me understand the true value of my company and when I decided I wanted to explore an ESOP, they worked along my side with one of their strategic partners, Business Transition Advisors, to get the transaction executed. Mac Holley and his team at Heritage did a fantastic job navigating me through the ESOP process.”
Heritage served as Woodsman’s financial advisor and intermediary to Business Transition Advisors who executed the ESOP transaction for the Company. Mac Holley, Alex Kellison, and Dan Edelman led the deal team. The terms of the transaction were not disclosed.