OAKBROOK TERRACE, IL – October 15, 2024 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to Heptacore, Inc. (“Heptacore” or “Company”) in its transition into an employee stock ownership plan (“ESOP”) company. Prairie acted as exclusive financial advisor in this transaction to Heptacore, Inc. and its shareholders and was led by Rocky Fiore, Franco Silva, and Harsh Patel of Prairie. Terms of the transaction were not disclosed.
Heptacore, Inc. (DBA Bloomsdale Excavating Company, Inc.) was founded by Marvin Drury over 75 years ago after his return from World War II by delivering excavated gravel to local farmers. With the addition of his brother Ralph and later sons, the company expanded into well drilling, water supply installation and general contracting. Headquartered in Bloomsdale, MO, the Company continues to grow while emphasizing strong family values and long-term relationships with their customers and community.
Prairie worked closely with the leadership team and sellers, providing ESOP advisory expertise, and managing the preparatory, due diligence and negotiation phases of the ESOP transaction, as well as structuring the financing for the transaction.
Pat Drury, President of Heptacore stated, “After exploring various ownership transition options, it became clear that an ESOP aligned closely with our near- and long-term objectives. Transitioning ownership to our employees was the ideal solution for our company. Prairie’s team provided the expertise and guidance necessary to structure the right ESOP transaction for everyone involved.”
“I could tell very early on that implementing an ESOP at Heptacore was the intended path of transitioning ownership. The ESOP helps to preserve the Drury family’s legacy and provides the employees with an opportunity to benefit in the future success of the company. I could not be happier for the entire Heptacore team,” said Rocky Fiore, Managing Director and COO at Prairie.
“It was a pleasure working with the Heptacore team throughout the entire transaction process. Heptacore possesses all the qualities needed to thrive as a successful ESOP” added Franco Silva, Director at Prairie. “This engagement showcases another successful construction transaction by Prairie, reinforcing our position as a market leader in the ESOP construction sector. We’re proud to continue building our national brand and delivering exceptional value to our clients.”
About Prairie Capital Advisors
Prairie is a leading financial advisory firm specializing in creating and executing ownership transition strategies for middle-market companies nationwide. In 2023, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.
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Media Contact
Wendy Gugora, Director of Marketing
Prairie Capital Advisors, Inc.
630.413.5574
wgugora@prairiecap.com
