Firm FOOting Changing your ownership struCture isn't easy, But it Could pay
signifiCant dividends for Both small and large firms M ost small firms
those that By Darlene Bremer employ fewer than 50 peo- ple are owned by a
small group of founders. There aren't many other ownership options
available to firms of that size, with the exception of broadening the
ownership before the original own- ers retire. Kevin McMahon, chairman and
CEO of Edwards and Kelcey in Morristown, N.J., says this can be
accomplished through an Employee Stock Ownership Plan ESOP or by being
acquired by a DEREk LEa larger firm. 12 ENGINEERING INC. MaY / JUNE 2006