The Employee Stock Ownership Plan (“ESOP”) purchased 30% of the common stock of the Company in a leveraged ESOP recapitalization.

COMPANY
The Company is a boutique manufacturer of fluid sealing products, including bearings and textile packing. The products are custom fabricated from high performance polymers and are used to seal rotational equipment, such as pumps and mixing equipment.

OUR ROLE
Pendo Advisors, LLC served as independent financial advisor to the trustee of the ESOP and provided a fairness opinion in connection with the transaction.