FOR IMMEDIATE RELEASE
May 6, 2021
Nevell Group, Inc. (NGi) Becomes 100% Employee-Owned Through an Employee Stock Ownership Plan
After nearly 20 years of significant expansion and growth, Nevell Group opens its next chapter
Brea, CA: Nevell Group, Inc. (the Company) has completed a transaction to become 100% employee-owned through its newly created Employee Stock Ownership Plan (ESOP). The Company was founded in 2002 in Southern California and is in the business of providing innovative interior, exterior wall systems along with other trade services on a wide variety of high-profile commercial construction projects throughout the Western United States. Since its inception, the Company has been owned and managed by a group of executives led by founding partners Michael Nevell and Bruce Pasqua.
After nearly 20 years of significant expansion and growth, the shareholders of Nevell Group, Inc. have decided to transition100% of the Company’s ownership to the larger employee group through a qualified retirement plan known as an Employee Stock Ownership Plan (or ESOP). All eligible employees will be granted shares of Company stock each year allowing them to earn ownership through their service to the Company. This strategic decision by Nevell Group is another step by actively showcasing their employee enrichment values. They now join a group of elite 100% employee-owned companies across the United States of America.
According to Michael J. Nevell, CEO, “Each employee of Nevell Group, Inc. is a valued team member. We want our employees to feel tremendous pride resulting from owning a stake in this Company. We also want our hard- working and loyal employees to benefit beyond their wages alone as they continue to help grow NGi. The current leadership decided to implement this plan because we felt it was the best and most sustainable path for the employees in a manner that protects the legacy that this team built.”
Nevell Group was advised by Ambrose Advisors, a national investment banking firm specializing in employee enrichment-ownership transactions. Michael Harden, Senior Managing Director with Ambrose Advisors, stated “Nevell Group’s goal was to secure a sustainable future for the Company in a manner that would be highly beneficial to its managers, employees, customers, vendors, and the community. Employee ownership rewards all performers and should be celebrated. It is a true win/win transaction for all parties involved and we were pleased to be a part. We heartily congratulate Nevell Group, Inc. and thank them for trusting Ambrose Advisors to manage this transition process.”
About: Nevell Group Inc. (NGi) is an industry leading, Western U.S. based, commercial interior and exterior wall systems contractor. http://www.nevellgroup.com
About: Ambrose Advisors is a national middle-market investment bank and financial advisory firm focused on guiding and assisting business owners with ownership succession planning, primarily through employee ownership. http://www.AmbroseAdvisors.com
About: Holzman Horner is an ESOP focused business law firm with offices in Washington DC. http://www.holzmanhorner.com