Employees of S. M. Wilson & Co. have completed the acquisition of the company from Chief Executive Officer Scott Wilson. The Employee Stock Ownership Plan (ESOP) was established in 2005 to provide employees with an interest in the Company through their retirement plan and allow the employees to share in the profits of the Company. The ESOP completed the transaction on December 31, 2013. Most of S. M. Wilson’s 140 employees participate in the ESOP.
Scott Wilson will remain actively involved in the company’s day-to-day operations as Chief Executive Officer. Amy Berg will continue to serve as President of the Company, and Michael Dohle and Amy Berg will serve as Trustees of the ESOP.
“This transaction will maintain the continuity of our business operations and reward our employees for their ongoing efforts to build this company into a local and national leader in our industry,” said Wilson. “Based on our strong revenue projections, we felt that the end of 2013 was a good time to complete the sale of the company to the ESOP. It also made a great holiday gift to our employees.”
“Starting 2014 as an ESOP-owned company has many benefits to our stakeholders,” Wilson added. “It encourages our motivated and empowered workforce to continue building partnerships with our construction teams and project owners to deliver our special brand of solutions-oriented results. And as owners, our employees have greater control over their own destiny.”
The negotiations on behalf of the Company were handled by Bryan LeMoine and Josh Richardson of McMahon Berger. John Zollo acted as the independent ESOP trustee during the acquisition process, and he was represented by James Moser of Jackson Lewis. Hillary Hughes with Prairie Capital Advisors provided special valuation and consulting services to the independent trustee.
S.M. Wilson was founded in 1921 by Shouse McGarvey Wilson in Granite City, Illinois. Scott Wilson, the grandson of the company founder, stepped in and infused a new culture that would revitalize the company and stimulate a growth wave that took the company from $10 million in annual revenues to $515 million in annual revenues over the next two decades. By every measure of success — volume, profit, repeat business, integrity and financial capability — S. M. Wilson has performed well in this volatile and highly competitive industry.
In addition, the company is known today as a maverick in the construction industry for its culture of transparency and employee engagement that is uniquely positive and unconventional.
Today S. M. Wilson is a full-service construction management, design/build and general contracting firm with headquarters in St. Louis and Rollins Construction Company, LLC, a wholly-owned subsidiary of S. M. Wilson, in Indianapolis. S. M. Wilson is one of the largest general construction and construction management firms in the St. Louis area. The company posted $307 million in 2012 revenues, and ranks 232nd in Engineering News-Record’s 2013 list of Top 400 commercial contractors nationwide. For more information visit www.smwilson.com.