OAKBROOK TERRACE, IL – January 13, 2025 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to Main Street Homes of VA, Inc. (“Main Street Homes” or “Company”) in its transition into an employee stock ownership plan (“ESOP”) company. Prairie acted as exclusive financial advisor in this transaction to Main Street and its shareholders and was led by Michael McGinley and Himanshu Chaudhry of Prairie. Terms of the transaction were not disclosed.
Founded in 1996 by Vernon McClure, Main Street Homes is a leading homebuilder based in Midlothian, VA, specializing in quality homes across multiple counties in the greater Richmond area. Main Street has earned numerous accolades, including being named Best Homebuilder eight times by the Richmond Times-Dispatch. They have also received Energy Star Partner of the Year Sustained Excellence, a national award given by the Environmental Protection Agency (“EPA”). Committed to customer satisfaction, Main Street Homes is known for building personalized homes with quality craftsmanship.
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.
Vernon McClure, Owner of Main Street Homes commented, “I am excited about the future of our company! Main Street Homes has been my life work for 28 years and our employee ownership group is a great benefit for our team and our community. We will continue as a locally owned company with a focus on our Core Value of ‘Building Value in our Community.’ A builder friend recommended Prairie to us and they did a fantastic job guiding us through the ESOP process. I appreciate their expertise and care; thank you to Michael, Himanshu and the Prairie team.”
Michael McGinley, Managing Director at Prairie, stated, “It was an honor to be able to help Main Street Homes become 100% employee owned. We are so excited for the communities in which they operate to benefit not only from the beautiful homes that they build but in the equity that this transaction will create as well.”
Himanshu Chaudhry, Director, added, “We are so proud to be a part of Main Street’s successful transition into an ESOP owned company. The ESOP will be a significant benefit for employees, creating long-term financial security for them as the business continues to grow.”
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
