November 13, 2024 Prairie Represents ITAMCO In Transition To ESOP Company

ITAMCO, Inc., a premier advanced manufacturing and technology firm in the United States, has transitioned into becoming an ESOP company.

OAKBROOK TERRACE, IL – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle- market investment bank, acted as financial advisor to ITAMCO, Inc. (“ITAMCO” or “Company”) in its transition into an employee stock ownership plan (“ESOP”) company. Prairie acted as exclusive financial advisor in this transaction to ITAMCO, Inc. and its shareholders and was led by Franco Silva, and Harsh Patel of Prairie. Terms of the transaction were not disclosed.

Established in 1955, ITAMCO, Inc. has been recognized as one of the premier advanced manufacturing and technology firms in the United States and supplies components to industries such as wind energy, mining, off highway, and oil. ITAMCO works with some of the world’s most respected companies and universities to deliver solutions that strengthen the bottom line. They are headquartered in Plymouth, IN, and have two locations across North Central Indiana.

Prairie worked closely with the leadership team and sellers, providing ownership transition expertise, and managing the preparatory, due diligence and negotiation phases of the ESOP transaction, as well as structuring the financing for the transaction.

Gary Neidig, President of ITAMCO commented, “As we considered strategic options for succession planning, the decision to transition to an ESOP was the right choice. The Prairie team was patient as our management team learned and discovered the process necessary for a successful transition. Their professionalism gave us comfort as challenges arose, and our confidence grew as we neared the finish line!”

Franco Silva, Director at Prairie, stated, “It was a pleasure working with the ITAMCO team throughout this transaction. ITAMCO possesses all the qualities necessary to thrive as a successful ESOP, delivering significant benefits to both its employees and the community. We wish them the very best on this exciting new journey! This successful transaction underscores Prairie’s leadership and expertise in the ESOP space.”

Harsh Patel, Vice President, added, “ITAMCO’s transition to an ESOP will offer substantial benefit for each participant while promoting a collaborative and engaged company culture. I look forward to seeing the company’s continued success.”

About Prairie Capital Advisors
Prairie is a leading financial advisory firm specializing in creating and executing ownership transition strategies for middle-market companies nationwide. In 2023, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.

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