Commercial Financial Consulting, LLC announces they pioneered an SBA backed Employee Stock Ownership Plan (ESOP) agreement which closed in October 2019 for $5,650,000.
BOSTON--(BUSINESS WIRE)--Nov 21, 2019--
Commercial Financial Consulting, LLC pioneered an SBA backed Employee Stock Ownership Plan (ESOP) agreement which closed in October 2019 with General Auto Recycling, Inc. which was founded in 1979. This landmark transaction was unique with no personal guarantee required, no loss of key personnel, and no quarrel over price.
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General Auto Recycling, Inc. (Photo: Business Wire)
The company has approximately 35 employees, some with over 30 years of service. They will now be owners via the ESOP which is tax exempt. A way of giving back to key personnel and employees for their years of service. The company recycles used auto parts throughout the northeast, delivers to car dealers and repair shops, and individuals online.
About Commercial Financial Consulting, LLC:
We are an investment banking firm located in the Boston Metropolitan area servicing clients throughout the United States. Our highly experienced team has an extensive knowledge in the finance world that can accommodate almost any reasonable financing situation.
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CONTACT: Commercial Financial Consulting, LLC
Ralph Stone, Managing Director
KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Commercial Financial Consulting, LLC
Copyright Business Wire 2019.
PUB: 11/21/2019 11:46 AM/DISC: 11/21/2019 11:46 AM