In its second acquisition announcement this week and fourth this month, SRS Acquisition Corp. said it has signed a letter of intent and is in the final stages of due diligence to buy Roofline Supply & Delivery. More
As Eugene C. Barton, a second-generation lumberman in Jonesboro, Ark., entered his golden years in the 1960s, he wanted to make sure his firm, E.C. Barton & Co., carried on after he was gone. With little interest from his own family to stay in the business, he transferred ownership to an employee-run board of directors, and gave it the mission of maintaining the company as an ongoing concern. By 1975, that board chose a new ownership structure for the operation, one that Congress had recently introduced: an employee stock ownership plan, or ESOP. More
