Priority Sign Holding Company, Inc.
Enclosed is a tombstone that describes a transaction recently completed by ATICG as Project Manager representing the selling shareholders.
We represented the majority shareholders of Priority Sign Holding Company, Inc. in a combined consolidation, equity recapitalization – Employee Stock Ownership Plan. The Company, through its subsidiaries, is as “turn-key” developer, project manager, and installer of both internal and external signage. The Company takes complete responsibility of multi-unit national projects start to finish. During the “design” phase, the Company is responsible for the verification of local ordinances, pulling permits, obtaining landlord approvals, and translation of current logos into a complete family of signage. During the “implementation” phase the Company handles production of product, and finally, upon the completion of the preceding, signage is shipped to one of their self developed 500 locally licensed, bonded, and insured specialists for installation. This unique process allows for the coordination of simultaneous installation of hundreds or thousands of units at as many locations throughout the U.S.
The recap and sale of stock to the Company’s new ESOP and Trust represented 100% of the then outstanding equity. The Company, taxed as a “C” Corporation on the date of sale, gives the sellers the ability to convert stock into liquid assets while deferring the Capital Gain Tax on the sale. This transaction also provides substantial corporate tax deductions, allows management to remain involved in the day-to-day operations of the Company, communicates shareholder intent, and gives the managers and employees a common incentive toward improved productivity, profitability and ultimately a higher share value.
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