On May 31, 2017, Fin Feather Fur Outfitters, Inc. and Subsidiaries (“The Fin”) of Ashland, Ohio, announced the sale of 100% of its stock to a newly-created Employee Stock Ownership Plan (“ESOP”). The Fin is a locally-owned and operated retail chain of outdoor hunting and sporting goods stores. The Fin has Ohio’s largest selection of firearms, archery equipment, and hunting and fishing gear, and operates stores throughout Northeast and North Central Ohio. GBQ Consulting LLC (“GBQ”) served as the exclusive financial advisor to the ESOP trustee in this transaction, providing independent valuation services and rendering an opinion to the ESOP trustee that the transaction was fair to the ESOP, from a financial point of view.
“GBQ is a proud advocate for employee ownership through ESOPs, and we are extremely excited to play a role in this transaction,” said Brian D. Bornino, CPA/ABV, CFA, CBA, Director of Valuation and Financial Opinion Services for GBQ. “The company’s family atmosphere and high degree of employee engagement makes an ESOP an ideal strategic fit for The Fin.” GBQ has now advised on 15 ESOP transactions in the past 18 months.
About GBQ’s Valuation & Financial Opinions Practice
GBQ’s Valuation & Financial Opinions practice is nationally recognized and is among the fastest growing valuation practices in the country. With offices in Chicago, Cincinnati, Columbus, Indianapolis, New York, and Philadelphia, GBQ specializes in the valuation of businesses, business interests, and intangible assets in the contexts of transaction advisory, financial reporting, ESOPs, corporate planning, and shareholder succession planning. GBQ is a nationally recognized authority on ESOPs and has successfully guided many companies through the initial evaluation and implementation of an ESOP, as well as providing ongoing ESOP valuation and transaction services.