Daily News: March 11, 2013

Matrix, Marshall & Stevens Advise Pester Marketing on ESOP


Matrix Capital Markets Group, together with Marshall & Stevens, Inc., announced the successful establishment of Pester Marketing Company’s Employee Stock Ownership Plan (ESOP). Pester established its ESOP in order to provide employees with another qualified, defined contribution benefit plan option to supplement its 401-k plan.

Matrix provided corporate finance and valuation advisory to Pester’s shareholders. Marshall & Stevens provided specialized advisory services to Pester’s shareholders including preliminary feasibility studies, ESOP design and formation consulting, transaction advisory assistance, a repurchase liability study and employee communications advice.

Pester’s executive management team hopes that the establishment of the ESOP will incentivize employees to save more for retirement, serve to maintain low employee turnover, and further motivate employees working for a high growth company.

Greenwood Village, CO-based Pester is an operator of 57 retail convenience stores, which trade as “Alta Convenience.” Through its wholly-owned subsidiaries, Alta Fuels and Alta Transportation, the company distributes and transports motor fuels and lubricants to wholesale, commercial and agricultural customers.

Rich Spresser, president and CEO of Pester, commented, “We at Pester felt that the ESOP was the best option to use to not only reward our current long-term employees but all employees in the future. We hope to create a culture of employee ownership which will carry our company forward for many years to come. With the combination of Matrix and Marshall & Stevens guiding us through the process, we feel very excited about our ESOP and the benefit it will provide all of our employees.”

Matrix’s Spencer Cavalier commented, “Pester’s establishment of an ESOP further aligns employee and shareholder interests and provides potential significant upside value to employee owners. Matrix is very appreciative of once again advising Pester shareholders, and we enjoyed working with Marshall & Stevens to effectuate the plan.”

Marshall & Stevens’ Steve Susel added, “We were very excited to assist Pester to install their ESOP. It was a pleasure working with a company that was implementing a plan that was done for the right reasons and benefits all the parties. The Pester team had a clear vision as to what they wanted to accomplish and worked tirelessly to set up something that they could be proud of. We appreciate Matrix recommending us to Pester as part of the team and having the confidence in us to get the job done. “