OAKBROOK TERRACE, IL – February 4, 2021 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to Satellite Services, Inc. (“SSI”) in the sale of the company to an employee stock ownership plan.
For over 35 years, SSI has offered first-class base operating support, facility operations and maintenance, and military family housing operations and maintenance services to government and commercial customers. With its experienced team that provides service in multiple locations across the United States, the Company aims to increase the life cycle and improve the performance of facilities and equipment, all while reducing operating costs. SSI prides itself on its integration of effective processes, innovative technology and partnering techniques to deliver information and improve the daily operation offacilities.
Prairie worked closely with the management team and sellers, providing advisory expertise and managing the preparatory, due diligence and negotiation phases of the transaction as well as structuring the financing for the transaction. Terms of the transaction were not disclosed. “Recognizing employees for their contributions to SSI has always been a priority for me,” says Mike Henricksen, SSI’s co-founder. “Transitioning ownership to our employees was the ideal solution for our company. Prairie’s team demonstrated the expertise and guidance needed in structuring the right ESOP transaction for all of us,” says Chris Hurlbert, President of SSI.
“We all value our United States military personnel. This company was founded with a focus on ensuring that military bases, housing operations and maintenance services can run smoothly. Now, the ownership group of SSI continues with their focus on community development with the sale of the Company to an ESOP,” commented Tim Jamison, Director at Prairie. “We are excited that SSI chose Prairie to assist them with implementing the ESOP and that the ESOP was the ideal strategy for the company,” continued Jamison. Henry Ventura, Director at Prairie, added, “It was a pleasure working with the SSI team throughout the entire transaction process. SSI has all of the key characteristics to be a very successful ESOP company inthe future.”
About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory, valuation advisory and financial reporting valuations to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. Prairie was named the 2020 Valuations & Fairness Opinions Advisor of the Year by M&A Atlas. For more information, visit www.prairiecap.com.
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Prairie Capital Advisors, Inc.