Butcher Joseph Hayes advises Kelly Anderson and Associates on sale to ESOP

ST LOUIS, May 1, 2012 /PRNewswire/ -- Butcher Joseph Hayes, an Investment Bank based in St Louis, MO, specializing in ESOP transactions and other merger and acquisition related transactions, served as exclusive financial advisor to Kelly Anderson and Associates, Inc. (KAA, Inc.) on its most recent sale to their Employee Stock Ownership Plan (ESOP). Kelly Anderson and Associates is now 100% employee owned.

This is the final stage transaction that was part of a strategy that began in 2003, when Jim and Nancy Kelly began to plan for their succession and sold 49% of their stock to an ESOP in order to provide their employees the incentive to grow the company. "It worked, and it worked exceedingly well," says Jim Kelly, founder of KAA. "Nancy and I wanted to provide a financial benefit to the team that helped grow this business over the years; and we were looking to gain liquidity for our investment in the company we started in 1984."  With the plan in place, "We were able to recruit and retain our perfect successor and President, Tim Vigotsky."

Tim Vigotsky, President and CEO of Kelly Anderson, commented, "Becoming a 100% ESOP owned company positions us for future growth and is a great incentive that our astute employees understand will benefit them financially. The ESOP allows us to retain our talented staff for many years providing long term stability while also giving us the ability to recruit the highest caliber professionals looking to work in a stimulating and challenging environment."

Joe Strycharz, a Managing Partner with Butcher Joseph Hayes, commented on the transaction, "Unlike other potential exit strategies, the sale to the ESOP provided a winning solution for all parties. The ESOP fulfilled the liquidity strategy for the owners, at the same time it provides exceptional benefits for the employees who enjoy an equity benefit in the company."

About Butcher Joseph Hayes

Butcher Joseph Hayes is an Investment Bank headquartered in St Louis, MO with coverage in Chicago, Washington DC, Pittsburgh and Charlotte, NC. Butcher Joseph Hayes provides investment banking advisory services to lower middle market companies. With over $1.5b in successfully completed ESOP structured deals, Butcher Joseph Hayes is known as a leader in the ESOP field. www.butcherjoseph.com

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Butcher Joseph Hayes
7701 Forsyth Blvd, suite 850
Clayton, MO 63105
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www.butcherjoseph.com

SOURCE Butcher Joseph Hayes