OAKBROOK TERRACE, IL – February 7, 2024 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to Meyer Contracting, Inc. (“Meyer Contracting”, “Meyer” or “Company”) in the transition of the company into an employee stock ownership plan (“ESOP”). Prairie acted as exclusive financial advisor in this transaction to Meyer Contracting and its shareholders and was led by Franco Silva and Harsh Patel of Prairie. Terms of the transaction were not disclosed.
Meyer Contracting, Inc. is a firm based in Maple Grove, MN with over 30 years of construction experience in earthwork, foundations, utilities, demolition, and concrete structures. They have established a notable reputation of trust and integrity in the industry and have built partnerships with local, state, tribal, and federal agencies. They focus on building strong, long-lasting client relationships that lead to quality results.
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.
“Prairie was a great partner in the process and I would highly recommend the team. I am excited for the opportunity this will bring to our incredible team at Meyer,” says Paul Meyer, CEO of Meyer Contracting, Inc. “The Prairie team was excellent to work with. Our schedule was accelerated, yet the nimbleness and dedication of the Prairie team kept us on track and in control. They are true professionals who bought into our vision and made dreams come true for our newly anointed employee owners. Their responsiveness and attention from the beginning of the process to beyond the transaction date shows their commitment to the client is not just lip service,” says Charlie Kramer, CFO of Meyer Contracting, Inc.
“It was a pleasure working with the entire Meyer team on this important transaction,” added Franco Silva, Director at Prairie. “The Company had a clear vision of the future and how the ESOP could help contribute to the overall success of the Company. This transaction represents another successful construction engagement completed by Prairie as we continue to serve family and founder-owned businesses in this industry.” Harsh Patel, Vice President at Prairie added, “Meyer’s ESOP not only fosters a collaborative culture within the company but also delivers meaningful benefits to its participants. I anticipate Meyer’s continued success, and I’m eager to see the team grow to new heights.”
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 2022, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.
Wendy Gugora, Director of Marketing
Prairie Capital Advisors, Inc.