Chicago, IL (PRWEB) June 19, 2012
Spinnaker Coating, LLC, announced the appointment of two new members to the board of directors,Mary Josephs of Verit Advisors and Glenn L. Bowers of Coolidge Wall. Spinnaker Coating, based in Troy, Ohio, is a $100 million manufacturer of adhesive coated papers and films. In February 2012, Spinnaker announced the sale of the company to an Employee Stock Ownership Plan (ESOP) and Verit Advisors led and advised Spinnaker Coating on the transaction.
Mary Josephs is a nationally recognized leader with more than 28 years of experience with ESOPs as a specialized solution-oriented succession and liquidity transaction for middle market companies. She has advised, structured, and closed more than 200 transactions for middle market companies. Ms. Josephs has spoken at hundreds of national conferences and frequently writes articles on issues related to succession and liquidity alternatives for closely held businesses, including ESOPs, ESOP financing, M&A, and other corporate finance solutions. She is on the Advisory Board of ESCA and is a Lifetime Member of the Board of Governors of the ESOP Association. In addition, she is a board member of Big Shoulder’s Fund in Chicago. Ms. Josephs is the mother of five children.
“I am honored to have been selected to serve on the board of Spinnaker Coating. I have gotten to know Lou Guzzetti, Chairman and CEO of Spinnaker Coating, and his outstanding executive management team while advising on the company on a sale to an ESOP. I respect their shared values and their plan for continuing growth,” said Mary Josephs.
About Spinnaker Coating
Founded in 1928 by two Troy, Ohio, businessmen, Herbert Brown and Perce Bridge, Brown-Bridge Industries was a manufacturer of water sensitive conventional gummed papers and cloths. The company adapted with changes in adhesive technologies and was an early entrant into the pressure sensitive market. In 2002, the company changed its name to Spinnaker Coating, LLC and began its transition to a highly-focused customer service organization. Commitment to quality, as well as customer service, has enabled Spinnaker to increase its market share and establish itself as a preferred supplier to label converters.
About Verit Advisors
Verit Advisors unites sophisticated middle market investment banking capabilities with a client centric boutique, fluent in ESOPs, debt and equity capital markets, and mergers and acquisitions, and valuation services. Integrity, teamwork, service and innovation are at the heart of the organization, as the Verit Team strives to provide unparalleled advice and custom solutions to its clients. Mary Josephs founded Verit Advisors in 2009 and her team is considered to be one of the foremost experts in ESOP transactions and middle market strategic alternatives. Verit has offices in Chicago and Minneapolis.