OAKBROOK TERRACE, IL — Prairie Capital Advisors, a middle-market investment bank specializing in ownership transitions and strategic transactions, served as financial advisor to Addison Smith Mechanical Contractor, Inc. in its transition to a 100% employee stock ownership plan (ESOP).
Prairie acted as exclusive financial advisor to Addison Smith and its selling shareholder in the transaction, which was led by Franco Silva and Harsh Patel of Prairie. Financial terms were not disclosed.
Mechanical Contractor Builds Long-Term Ownership Strategy
Based in Carrollton, Georgia, Addison Smith Mechanical Contractor serves commercial, industrial, healthcare and institutional construction markets. Founded in 1954, the company provides pre-construction and construction services including HVAC systems, process piping, plumbing, building automation, and ongoing service and maintenance.
The transition to a 100% ESOP structure positions the company to maintain its long-standing culture while creating an ownership opportunity for employees.
Advisory Support Through ESOP Structuring and Financing
Prairie worked closely with Addison Smith’s leadership team and the selling shareholder to guide the ESOP transaction from initial preparation through closing. The firm provided advisory support across due diligence, negotiations and transaction structuring, including arranging financing for the ESOP.
“I would like to extend my sincere appreciation to Prairie Capital Advisors for their outstanding expertise and leadership throughout our 100% ESOP transaction. Their team provided clear guidance, strategic insight and steady support from start to finish, ensuring a smooth, seamless and successful transition. Their professionalism and deep understanding of ESOP structures gave us confidence at every step. We highly value their partnership and look forward to a continuing affiliation with the Prairie Team,” said Tim Brewer, Chief Executive Officer of Addison Smith.
Preserving Company Culture While Supporting Future Growth
Employee ownership structures are often used in the construction and contracting sector to support ownership succession while maintaining operational continuity and company culture.
“We are proud to have advised Addison Smith on its transition to a 100% ESOP owned company. This transaction provides liquidity to the seller while preserving the Company’s culture, leadership team, and long-term strategic vision. Addison Smith is exceptionally well-positioned to thrive as an ESOP, and this milestone marks another successful ESOP construction transaction for Prairie,” added Franco Silva, Managing Director at Prairie.
Harsh Patel, Vice President at Prairie, also commented, “We were honored to advise the shareholder on this successful transition to employee ownership. The Company’s commitment to its people and long-term legacy made for a rewarding engagement, and we’re confident that employee ownership will fuel continued success and shared value for years to come.”