The professionals at Prairie Capital Advisors, Inc. are valued for their thought leadership and insight into an array of valuation and transaction topics. Our analysts contribute regularly to the current professional literature and because of their national reputations as experts in the financial advisory field, they are routinely sought by the media, professional associations and financial publications to speak or write about an array of ownership transition topics. Listed below are some of our most recent articles.

Anticipating and Avoiding ESOP Financing Obstacles
	By Prairie Capital Advisors, Inc. This article was written to provide prospective ESOP companies and existing ESOP companies an overview of the many different types of obstacles that arise during the negotiation and structuring of ESOP transactions. The article discusses issues such as ESOP lending, ESOP valuations, benefit allocations, environmental/products liability, change of control, and matters relating to ESOP trustees. Finally, the article touches on a variety of very important obstacles involved in structuring transactions, such as pledging the selling shareholder's proceeds to make up collateral shortfalls. More...
Corporate Governance in an ESOP Company
	By John M. Banasek Director, Corporate & Fiduciary Advisory Services Prairie Capital Advisors, Inc. How does governing an ESOP company differ from the governance of any other corporation? Relevant state and national laws, local and federal regulatory bodies, the legal framework of the company, and the corporate culture all play a role in the governance of an ESOP company. More...
ESOPs: A Presentation of Valuation Issues
	By Robert J. Gross Managing Director Prairie Capital Advisors, Inc. Employee Stock Ownership Plans (ESOPs) continue to expand in number due to the unique way they help achieve employee benefit objectives and ownership succession plans. The combination of ERISA requirements and the benefits provided in the Internal Revenue Code precipitates some complexities in the valuation of the ESOP company, and, separately, the valuation of the equity securities of the company. Thus, there are few areas of valuation that offer more challenge than the ESOP area. More...
The ESOP Trustee’s Role in ESOP Stock Valuation and Repurchase Obligation
	By John M. Banasek Director, Corporate & Fiduciary Advisory Services Prairie Capital Advisors, Inc. This article addresses some common questions relating to the ESOP trustee’s role in ESOP stock valuation and repurchase obligation. More...
Fiduciary Duties of the ESOP Trustee
	By John M. Banasek Director, Corporate & Fiduciary Advisory Services Prairie Capital Advisors, Inc. This article examines the duties of the trustee of an employee stock ownership plan (“ESOP Trustee”), beginning with the governing principles of the Employee Retirement Income Security Act of 1974, as amended, and the application of those duties to general administration and ongoing administrative responsibilities of the ESOP Trustee. The article also examines briefly the actions that might be taken against the ESOP Trustee for breach of its fiduciary duties and the remedies available to a plan. More...
Financing the Leveraged ESOP
	By Kenneth E. Serwinski Managing Director Prairie Capital Advisors, Inc. Borrowing money to finance a leveraged employee stock ownership plan (ESOP) can be a challenge for closely held companies. Before considering structuring issues, one should understand some of the credit criteria necessary to obtain this type of loan. More...
Second Stage ESOP Financing
	By Kenneth E. Serwinski Managing Director Prairie Capital Advisors, Inc. Before a lender can decide whether or not a second transaction is creditworthy, a transaction structure must be presented that addresses the four C’s of lending: Character, Cash Flow, Collateral and Capital. More...