Hinckley Allen represented Rifenburg Holdings, Inc. (“Rifenburg”) in the sale of 100% ownership interests to the organization’s newly formed Employee Stock Ownership Plan (ESOP). Rifenburg, one of Upstate New York’s oldest and largest family-owned construction firms, has operated for over 60 years. Rifenburg’s affiliates include heavy highway contractors, site contractors, an equipment leasing company, an excavation company, and a gravel supplier.
“The Rifenburg family recognizes that it’s our loyal employees that made these companies successful over the past 66 years. We decided the best way to transition the organization to the future was to allow them to share in that success. We are very excited about this opportunity and we are confident that it will help attract new people to our team” said the Rifenburg family.
Our comprehensive team of attorneys, led by our privately held and family-owned business team, brought their expertise across the areas of construction, corporate, labor and employment, tax, and ERISA law to successfully complete a complex transaction that combined the affiliates into a single holding company and transitioned the company ownership to the ESOP.