SC&H Capital, a leading investment bank specializing in sell side M&A and ESOP advisory services for middle-market companies, is pleased to announce the successful sale of its client, Kitware, Inc., to an employee stock ownership plan (ESOP).
Kitware works with customers to solve the world’s most complex scientific challenges through customized software solutions. The company and its nearly 200 employees deliver innovation by focusing on advanced technical computing, state-of-the-art artificial intelligence, and full-spectrum software solutions. Since being founded in 1998 by Ken Martin, Will Schroeder, Lisa Avila, Bill Hoffman, and Charles Law, Kitware has established a strong reputation of creating and supporting large, collaborative, and open communities that use and improve the company’s open-source software platforms.
“Our shareholders had never gone through an ownership transition process prior to the ESOP transaction, and SC&H Capital was extremely helpful to us in understanding all of our options, determining which of those options allowed us to achieve our collective goals, and ultimately executing the sale to the ESOP,” said Lisa Avila, current CEO. “The shareholders are very happy with the outcome of the transaction. The opportunity to reward our employees for their contributions to Kitware is exciting, and we look forward to our future as an employee-owned company. SC&H provided excellent guidance throughout the ESOP transaction to enable us to structure and execute the right deal for Kitware.”
“After considering many different options for the shareholders, it was clear that the sale to an ESOP was the right answer for the shareholders, company, employees, and customers,“ said Greg Hogan, Managing Director, SC&H Capital. “We were very pleased to have the opportunity to assist Kitware throughout the transaction and look forward to seeing the continued success of the business to the benefit of the new employee-owners.”
The transaction was lead by Greg Hogan, Managing Director, and Lindsay Baublitz, Senior Vice President at SC&H Capital. Ed Renenger and Paul Fusco of Stevens & Lee served as legal counsel to the company. Terms of the transaction were not disclosed.
About SC&H Capital
SC&H Capital, an affiliate of SC&H Group, is an investment banking and advisory firm providing merger and acquisition (M&A), special situations, employee stock ownership plan (ESOP), capital raising, and business valuation solutions to middle-market and growth companies nationwide. SC&H Capital delivers investment banking and advisory services across numerous industries, including technology, healthcare, manufacturing, and government contracting, to help owners achieve their exit planning goals and liquidity objectives. To learn more visit www.schcapital.com.