Benchmark International is pleased to announce that TMI Electrical Contractors, Inc. has successfully restructured as an ESOP (Employee Stock Ownership Plan).
TMI Electrical Contractors, Inc. is a full-service licensed electrical contractor headquartered in Cincinnati, Ohio, servicing commercial, industrial, and residential clients.
Mark Gillespie, President of TMI Electrical Contractors, Inc., added: “TMI initially engaged Benchmark to explore exit strategy options. We worked with numerous potential groups while weighing the pros and cons of an internal restructuring and ultimately decided that an ESOP was the best route for not just our exit, but the wellbeing of the business and its employees long-term. I would like to thank Neal, Jonathan, Tyrus, and the Benchmark team for their professionalism and assistance through the ESOP process and their contribution to an overall successful result.”
Regarding the deal completion, Tyrus O’Neill, Managing Partner of Benchmark International, stated: “Mark and the team at TMI are a fantastic group and we’re excited to see them take the ESOP path. It was a pleasure working with them through the process and we wish them nothing but the best moving forward.”
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