Portsmouth, New Hampshire – July 26, 2019 – Atlantic Management Company, Inc. (Atlantic) is pleased to announce that Dunbar & Brawn Construction, Inc. (D&B or the Company) of Bangor, ME was acquired and is now 100% employee-owned through an employee stock ownership plan (ESOP). Atlantic served as independent appraiser to the trustees of the ESOP and assisted in structuring the transaction.
Dunbar & Brawn was organized in 2003 by Scott Dunbar and Alan Brawn and provides general contractor services at fixed price and cost-plus contracts of projects in Central and Downeast Maine. The Company has grown from three employees to over 60.
Founder Scott Dunbar stated, “We’ve got a core group of young, working people who are ready to take the reins. Why not just turn it over to them? The reason for going to the ESOP, unlike maybe some other self-serving departure, is because these people are like family to me. It’s a huge change. It’s not only a retirement plan. It’s ownership of the company.”
The Bangor Daily News posted this article on July 27, 2019.
Atlantic Management Company, Inc. is a leading valuation and financial advisory firm serving the business, legal and financial communities from its offices in Portsmouth, New Hampshire. Founded in 1968, the firm’s Valuation Groupprovides business valuations, fairness and solvency opinions, and litigation support for private and public companies. The Ownership Transition Group specializes in ESOPs, mergers and acquisitions, and business succession strategies for closely-held companies.
