DATE: December 31, 2022
Who is Our Client?
- Horizon Transport is one of the largest independent transportation providers to the recreational vehicle (RV) industry in the United States.
- With 2,500-3,000 independent drivers, Horizon is an industry leading, full-service RV transporter focused on drive-away, single tow away, flatbed and multi-haul deliveries.
- Horizon was founded and family owned since 1986. It is headquartered in Wakarusa, IN with multiple staging facilities across Northern Indiana.
- Horizon facilitates moves primarily from the recreational vehicle OEM facilities to dealerships across North America, while its independently operated sister firm, Wave Express, works directly with dealers.
What Value Did Nolan Deliver?
- Nolan worked with the owner of Horizon for several years, exploring strategic options for both the owner and the company.
- On three occasions, Nolan cleared the market of buyer interest, including prospective strategic, private equity and family office buyers, in pursuit of the outcome that would meet or exceed the expectations of both the owner and the company.
- As a result of Nolan’s work, the decision and option to sell to the Employee Stock Ownership Plan (ESOP) was a “no-brainer.”
- In this case, it was the very best outcome the market had to offer our client and the company.
How does the ESOP satisfy the needs of the owner?
- In Horizon’s ESOP structure, the owner continues to influence the company’s operations and strategic vision in addition to mentoring the successor management team.
- Additionally, the ESOP maximizes value while minimizing the tax effects of a sale.
- An ESOP can be an attractive exit strategy for an owner because it preserves the legacy of the company and does not involve selling to a third party.
How does the ESOP benefit the employees and customers in the long run?
- The ESOP rewards the employees who helped to build Horizon with ownership while also improving and driving employee morale, energy, and loyalty.
- Additionally, the ESOP will enhance employee, driver, and customer retention.