Hinckley Allen represented Northeast Structural Steel, Inc., a union structural steel erection contractor serving the New York and New Jersey markets on heavy highway, bridge, building, and precast concrete projects, in the sale of 100% of the company to a newly formed Employee Stock Ownership Plan (ESOP), transitioning Northeast Structural Steel to full employee ownership.
A cross-disciplinary team of Hinckley Allen attorneys, led by our Privately Held and Family-Owned Business practice, drew upon the firm’s capabilities in construction, corporate, labor and employment, tax, and ERISA law to structure and close the transaction that combined affiliated entities into a single holding company and transferred ownership to the ESOP.