Popular on EntSun
- Female Motorsports Sponsorship & Expansion; Acquisition Agreement of UAE-Based Sports Incubator by Online Lottery & Sports Game Provider: Lottery.com - 228
- WOA Entertainment Group Unveils Independent No.1's: Breakthrough Artists II —A Celebration of Indie Excellence - 210
- Experience Trembling Firsthand with the New AgeMan® Tremor Simulator - 208
- Edtech Startup Young Commanders Launches 'Visionaries Without Sight' Collection Celebrating Blind and Visually Impaired Historical Figures - 200
- Let's Talk Series: At the Crossroads: Immigration Today - 150
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement - 141
- TEDxInglewood Returns to The Miracle Theater on August 9, 2025 — Celebrating Bold Ideas and Community Energy - 131
- Manhattan Boutique Real Estate Collaborates with InterContinental Hotels NYC in a Branding Partners Personalized Approach - 123
- Token-Operated Sake Service Opens at Tobu Nikko Station - 119
- Honoring Black History, Culture, and Community in Fall River - 118
Similar on EntSun
- Digital Watchdog Launches New myDW Cloud Services
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Bio-Inspired Technology-Dynamic and Adaptable for unknown real-world environments
- $17.4 Million Total Revenue for First Half of 2025 (up 31.8% YOY) for Global Wet Trades Services Provider with High Value Bitcoin Investments
- $12.8 Million Net Revenue for 2024 for Cloud-Based Crowdsourcing Recruitment and SaaS-Enabled HR Solutions Provider: Baiya International Group Inc
- Hire Virtue Announces Executive Sponsorship Opportunity for Houston Hiring Blitz & Job Fair on August 6, 2025
- Plan to Launch Silo Technologies' Cybersecurity Pilot Program for Ultimate Nationwide Deployment via Exclusive Partnership: Stock Symbol: BULT
- AI-Based Neurotoxin Countermeasure Initiative Launched to Address Emerging National Security Needs: Renovaro, Inc. (N A S D A Q: RENB)
Texas Automotive Lift & Equipment Distributor chooses Employees Ownership
EntSun News/10974218
ALVARADO, Texas - EntSun -- After 19 years in business, Tuxedo Distributors, Inc, one of the largest importers of automotive repair equipment in North America, is pleased to announce a sale and transition to a 100% Employee-owned company.
"Our employees have been the backbone of this business, and it gives me great joy to see them become owners of the company they have helped build," said Steve Swink, Founder & CEO of Tuxedo Distributors. "The Employee Stock Ownership Plan (ESOP) is a perfect way to reward their hard work and dedication."
Steve & Marg Swink retained RBG Capital (www.rbgcap.com), a Scottsdale AZ based Investment Banking and Wealth Management firm, to explore succession alternatives including Private Equity, Synergistic Buyers and an ESOP. Utilizing their Dual Path sale process solution for 3rd party buyers and an ESOP feasibility concurrently, the Swinks opted to sell to their employees, "those who got us here deserve an opportunity to participate in the future upside of their hard work and efforts," shared Mr. Swink.
An ESOP is a type of employee benefit plan that provides employees with an ownership stake in the company. As a qualified Pension Plan, which owns 100% of S Corporation shares, the Company will not incur Federal or State Income Taxes for as long as the ESOP owns the shares. This provision makes ESOPs particularly attractive as an alternative buyer to Private Equity.
More on EntSun News
"ESOPs are not a solution for every owner's succession objectives, but when they are a fit there is no stronger transaction strategy out there" shared Michael Walling, Managing Director of RBG Capital. "Through the ESOP, the government becomes the company's financial partner, directing what would have been tax dollars towards paying off the acquisition debt more efficiently."
"On behalf of all the employees at Tuxedo we offer a heart felt thank you to Marg and Steve Swink for their years of dedication and the amazing opportunity they have offered all of their employees," said Leslie Schmidt, President of Tuxedo. "Over the last year, I have come to the conclusion that there is not a finer group of people to work with than these employees. We are excited to start this new opportunity!"
The transaction financing was provided through Comerica Bank. "We are honored to provide senior financing for our longtime customer Tuxedo Distributors," said Freddy Espericueta, Comerica Bank Senior Vice President, Group Manager for Commercial Banking. "It is particularly rewarding any time Comerica can support an employee ownership deal."
Participating in an ESOP program means employees are collectively owners of the company and benefit financially from a job well done. In this way, there is direct incentive for employees to work hard and take even more pride in what they do.
More on EntSun News
About Tuxedo Distributors
Founded in 2004, Tuxedo Distributors, LLC, is a master importer and leading supplier of high-quality, affordable automotive lifts and other repair equipment and accessories. Tuxedo Distributors is headquartered in Alvarado, TX providing global distribution with focus primarily across the United States and Canada. For more information contact Matt Kahla at 817-558-9337 or mattkahla@tuxedodistributors.com.
About RBG Capital
Founded in 1986 and headquartered in Scottsdale, AZ, RBG Capital is a wealth advisory and sell-side Investment Bank, representing entrepreneurial business owners throughout the US. For more information, please visit us at www.rbgcap.com or contact Tim sperling, Director of Business Development at tsperling@rbgcap.com or 480-386-0309.
About Comerica
Comerica Bank is a subsidiary of Comerica Incorporated, a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $85.4 billion as of Dec. 31, 2022
"Our employees have been the backbone of this business, and it gives me great joy to see them become owners of the company they have helped build," said Steve Swink, Founder & CEO of Tuxedo Distributors. "The Employee Stock Ownership Plan (ESOP) is a perfect way to reward their hard work and dedication."
Steve & Marg Swink retained RBG Capital (www.rbgcap.com), a Scottsdale AZ based Investment Banking and Wealth Management firm, to explore succession alternatives including Private Equity, Synergistic Buyers and an ESOP. Utilizing their Dual Path sale process solution for 3rd party buyers and an ESOP feasibility concurrently, the Swinks opted to sell to their employees, "those who got us here deserve an opportunity to participate in the future upside of their hard work and efforts," shared Mr. Swink.
An ESOP is a type of employee benefit plan that provides employees with an ownership stake in the company. As a qualified Pension Plan, which owns 100% of S Corporation shares, the Company will not incur Federal or State Income Taxes for as long as the ESOP owns the shares. This provision makes ESOPs particularly attractive as an alternative buyer to Private Equity.
More on EntSun News
- Stan Fitzgerald Appointed Acting Press Secretary for Veterans for America First VFAF Georgia State Chapter
- Drone Light Shows Emerge as the New Standard in Live Event Entertainment
- Lore Link is Here to Help Organize Your Game
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
"ESOPs are not a solution for every owner's succession objectives, but when they are a fit there is no stronger transaction strategy out there" shared Michael Walling, Managing Director of RBG Capital. "Through the ESOP, the government becomes the company's financial partner, directing what would have been tax dollars towards paying off the acquisition debt more efficiently."
"On behalf of all the employees at Tuxedo we offer a heart felt thank you to Marg and Steve Swink for their years of dedication and the amazing opportunity they have offered all of their employees," said Leslie Schmidt, President of Tuxedo. "Over the last year, I have come to the conclusion that there is not a finer group of people to work with than these employees. We are excited to start this new opportunity!"
The transaction financing was provided through Comerica Bank. "We are honored to provide senior financing for our longtime customer Tuxedo Distributors," said Freddy Espericueta, Comerica Bank Senior Vice President, Group Manager for Commercial Banking. "It is particularly rewarding any time Comerica can support an employee ownership deal."
Participating in an ESOP program means employees are collectively owners of the company and benefit financially from a job well done. In this way, there is direct incentive for employees to work hard and take even more pride in what they do.
More on EntSun News
- Donelle Valentine Brings Soulful Nostalgia on New Single "They Don't Understand" Out July 11th
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce
About Tuxedo Distributors
Founded in 2004, Tuxedo Distributors, LLC, is a master importer and leading supplier of high-quality, affordable automotive lifts and other repair equipment and accessories. Tuxedo Distributors is headquartered in Alvarado, TX providing global distribution with focus primarily across the United States and Canada. For more information contact Matt Kahla at 817-558-9337 or mattkahla@tuxedodistributors.com.
About RBG Capital
Founded in 1986 and headquartered in Scottsdale, AZ, RBG Capital is a wealth advisory and sell-side Investment Bank, representing entrepreneurial business owners throughout the US. For more information, please visit us at www.rbgcap.com or contact Tim sperling, Director of Business Development at tsperling@rbgcap.com or 480-386-0309.
About Comerica
Comerica Bank is a subsidiary of Comerica Incorporated, a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $85.4 billion as of Dec. 31, 2022
Contact
Tim Sperling, Director of Business Development
tsperling@rbgcap.com or 480-386-0309
***@rbgcap.com
Tim Sperling, Director of Business Development
tsperling@rbgcap.com or 480-386-0309
***@rbgcap.com
Source: RBG Capital LLC
Filed Under: Financial
0 Comments
Latest on EntSun News
- $17.4 Million Total Revenue for First Half of 2025 (up 31.8% YOY) for Global Wet Trades Services Provider with High Value Bitcoin Investments
- $12.8 Million Net Revenue for 2024 for Cloud-Based Crowdsourcing Recruitment and SaaS-Enabled HR Solutions Provider: Baiya International Group Inc
- YYNOT Brings High-Energy RUSH Tribute to the Weinberg Center this September
- Hire Virtue Announces Executive Sponsorship Opportunity for Houston Hiring Blitz & Job Fair on August 6, 2025
- Inked & Maxim Model Teisha Mechetti Turns Heads—And Builds Community Impact
- Plan to Launch Silo Technologies' Cybersecurity Pilot Program for Ultimate Nationwide Deployment via Exclusive Partnership: Stock Symbol: BULT
- Climaxe Throwing Celebrates 3-Year Anniversary with Grand Re-Opening Under New Ownership
- Robert Michael & Co. Real Estate Team Celebrates Industry Recognition and Showcases Premier Central Florida Listings
- Brightwater Lagoon to host Fourth of July weekend festivities
- AI-Based Neurotoxin Countermeasure Initiative Launched to Address Emerging National Security Needs: Renovaro, Inc. (N A S D A Q: RENB)
- The Naturist World Just Shifted — NaturismRE Ignites a Global Resurgence
- $796,000 in Q2 Revenue Marks Highest Earnings to Date on 3 Trailing Quarters of Profitability in Multi-Billion Homebuilding Sector: Stock Symbol: IVDN
- Cybersecurity is THE Hot Market Sector; Revenues, Earnings & Profit matter; Only 33 Million Shares + a Huge Short Position Equal an Undervalued Stock
- Despite Global Calls for a Ban, US Child Psychiatry Pushes Electroshock for Kids
- Franco Polished Plaster Celebrates 35 Years of Bringing Walls to Life in the UK
- India's Home Textile Manufacturers See Rising Demand From US Buyers, Enabled By rivexa
- Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
- Is the Entertainment Industry in Legal Tragedy: Was Nas's song The World is Yours taken literally
- Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
- Psychologist-Turned-Hermeticist Releases Modern Guide to the Seven Hermetic Principles