Wallace Building Products Corporation is pleased to announce the transition to employee ownership by becoming 100% employee owned.
PORTSMOUTH, NEW HAMPSHIRE, UNITED STATES, January 25, 2021 /EINPresswire.com/ — Wallace Building Products Corporation (Wallace or the Company) is pleased to announce the transition to employee ownership by becoming a 100% employee-owned company through the sale of stock to a newly created Employee Stock Ownership Plan (ESOP). Atlantic Management Company, Inc. (Atlantic) served as independent financial advisor to the trustee of the ESOP.
Originally incorporated in New Hampshire as Wallace Prefab in 2001, Wallace is one of the largest producers of prefabricated wall frame panels in the northeastern United States, as well as one of the largest providers of wood framing components and turn-key framing, siding and roofing for commercial mid-rise buildings in New England.
John Tauriello purchased the assets of the Company in 2012 from its founder and, with his partner, Nathan Routhier, they have grown the Company by targeting and developing strong relationships with some of the largest and most forward-thinking regional and national developers and general contractors that specialize in the larger, multi-family, senior housing, student housing, hotel and municipal market segments.
"Through their commitment to deliver quality products and service to our customers, Wallace’s hard-working and dedicated employees are the lifeblood of Wallace. Our transition to employee ownership is intended to reward our employees and reinforce our culture of employee empowerment and responsibility.” said John Tauriello, President & CEO.
Founded in 1968, Atlantic Management Company, Inc. is a leading financial and transaction advisory firm that provides business valuation, ESOP and merger and acquisition services for privately owned middle market companies from its offices in Portsmouth, New Hampshire and New Orleans, Louisiana.
Atlantic Management Company, Inc.
Source: EIN Presswire