OAKBROOK TERRACE, IL – January 24, 2017 – Prairie Capital Advisors, Inc., a leading corporate finance advisory and investment banking firm, acted as financial advisor to Novaspect Holdings, Inc. in the sale of the company to an employee stock ownership plan.
Novaspect Holdings, Inc. (“Novaspect”), a leading provider of process management solutions, improves their customer’s performance through the innovative application of technology. Since 1936, they have been engineering, selling and servicing industrial process controls. Novaspect is an Emerson Automation Solutions Business Partner.
Prairie worked closely with the management team, board of directors and sellers, providing advisory expertise and managing the preparatory, due diligence, and negotiation phases of the transaction as well as structuring the financing of the transaction. “Transitioning ownership to an ESOP structure is an exciting and scary opportunity for all involved”, says Mike Franz, Chief Financial Officer and Shareholder at Novaspect. “Rocky Fiore and his team at Prairie Capital Advisors have the industry knowledge and professional relationships to make this complex transaction to Employee Ownership a reality. Novaspect has a bright future and the ESOP structure allows us to continue growing, investing and transitioning the company to one of our largest and most important assets…our employees”. Rocky Fiore, Chief Operating Officer and Managing Director at Prairie says, “It was a pleasure working with the Novaspect team throughout the entire transaction process. As an organization, Novaspect has all of the requisite characteristics to be a very successful ESOP company in the future”.
About Prairie Capital Advisors
Prairie is an employee owned company that offers investment banking, ESOP advisory and valuation services to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois with offices in Atlanta, Boston, Chicago, Cedar Rapids and Louisville, the company is a leading advisor to closely-held companies nationwide. For more information, visit www.prairiecap.com.
Wendy Gugora, Marketing Manager
Prairie Capital Advisors, Inc.