Company Implements Employee Stock Ownership Plan

    NEW YORK, June 18 /PRNewswire/ -- Robert's Hawaii, Inc. ("RHI"),
 Hawaii's largest and oldest tour and transportation operator, has announced
 a partial transfer of the company's ownership to its employees through an
 Employee Stock Ownership Plan ("ESOP").
     Under this ESOP transaction, Robert Iwamoto, Jr., RHI Chief Executive
 Officer, and his partners transfer 43.5 percent of the company ownership to
 their 1,405 employees -- thus making them co-owners of the business. Neil
 Takekawa, who serves as President, will continue to manage the company.
     Corporate Solutions Group, LLC ("CSG"), a leading New York investment
 banking boutique, designed and implemented the transaction, which was
 structured by Stephen Berman and Alex Meshechok (Managing Directors at CSG)
 and was overseen by CSG's founder Larry Kaplan. CSG was instrumental to
 ensuring that this transaction was completed with the best interests of all
 of the shareholders in mind.
     Iwamoto commented on the transaction, "After considering a wide range
 of alternatives, I have come to the conclusion that ESOP is a perfect way
 to contribute to RHI's development without limiting its future
 capitalization opportunities. I am excited to offer this great benefit to
 our employees. Thanks to CSG, we managed to design and successfully
 implement the plan, which will allow our employees to share in the
 company's continued growth."
     "Roberts Hawaii has an outstanding reputation for excellent service
 quality, safety, and corporate integrity. We are proud to join forces with
 such an industry innovator," noted Larry Kaplan, CSG's Founder and Managing
 Director. "The established ESOP will help RHI fulfill its growth plans
 while benefiting the owners and employees," added Berman.
     Employee Benefits
     The ESOP plan enables every RHI employee to move from simply collecting
 a paycheck to having an actual stake in the company's long-term success.
     "Our employees are a tremendous part of RHI's achievements," said
 Iwamoto. "Sharing ownership with them will not only reward their
 contribution, but also provide incentives for their continued dedication."
     ESOP Trend in the Transportation and Tourism Industry:
     Introduced by Congress in 1972 and covered by ERISA, leveraged ESOPs --
 which transfer ownership interest in a company to employees -- offer
 companies a unique tool to create alternative liquidity and access to
 associated tax benefits, while aligning employer and employee interests and
 creating valuable incentives for employees. CSG has pioneered structuring
 ESOPs for the hospitality industry.
     "The tourism and transportation industry relies on motivating employees
 to provide consistently high levels of service. The ESOP is an incredible
 benefit that, by making employees co-owners, aligns management's and
 employees goals and objectives. The transaction becomes a win-win for all
 sides," said Kaplan. "We expect this trend to continue and look forward to
 structuring additional ESOP transactions in the industry."
     About Roberts Hawaii, Inc.
     Founded in 1941 by Robert Iwamoto, Sr., RHI has grown from a small,
 family-run business into a professionally managed, diversified
 transportation, tourism and entertainment operation. RHI delivers
 first-class transportation, personalized sight-seeing tours and excursions
 around the state's four largest islands, and an exciting variety of
 attractions and activities. In addition, RHI offers dinner cruises,
 whale-watching cruses, the Magic of Polynesia show, and other leisure and
 entertainment alternatives.
     About Corporate Solutions Group, LLC
     Corporate Solutions Group, LLC is a leading New York-based investment
 banking boutique, specializing in ESOPs and other liquidity alternatives
 for middle market business owners.
 
 

SOURCE Corporate Solutions Group, LLC