Coral Springs, FL (PRWEB) October 4, 2006
Rhon Ernest-Jones Consulting Engineers (REJCE), a leading provider of civil engineering, transportation planning / traffic engineering, land planning, and landscape architecture services for both private and public sector clients, announced today it has completed a management-led employee buyout at 100% for an undisclosed sum. Guidance for the acquisition was provided by American Business Resource Corporation, a national ESOP consulting firm. Under the terms of the transaction, REJCE's current management team will remain unchanged.
Founded in 1992 by Rhon Ernest-Jones, REJCE's team has grown to 34 civil engineers, land planners, landscape architects and transportation planners in three offices. Ernest-Jones, who led negotiations on behalf of REJCE said, "The ESOP is a powerful tool that will help us meet our business goal to expand the organization. It will also help us attract and retain highly-skilled engineers in a tight labor market."
Evan L. Rhodes, president of American Business Resource Corporation, said, "It was our privilege to help Rhon Ernest-Jones Consulting Engineers, Inc. with their ESOP implementation which we completed in under two months. The ESOP positions REJCE for continued growth and expansion, provides for employee retirement, and puts in place a planned exit strategy for the original shareholders."
Since 1996, Congress has enacted several positive ESOP laws for C and S corporations, and the regulatory climate has improved greatly. ESOP tax incentives have provided tax savings of approximately $50 billion since 1984 for ESOP corporate sponsors. Total assets owned by U.S. ESOPs is estimated to be in excess of $600 billion.
To learn more about Rhon Ernest-Jones Consulting Engineers, Inc., visit http://www.rejce.com or call 954-344-9855. To learn more about American Business Resource Corporation, visit http://www.abrc-esop.com or call toll free 1-866-379-2121.