Overview
A contracting firm based in Kalispell, MT, Alamon serves communications, utilities, and energy companies nationwide from its 12 locations. The Company has been in business for more than 45 years, and has developed deep relationships with service providers, resellers, and manufacturers. Alamon prides itself on its 200 plus committed, skilled and conscientious employees who help keep quality at high levels. The Company has been 100% employee-owned since 2010.
Situation
Alamon’s leadership hoped to grow the Company by acquisition. Telmon, Inc., a Network Infrastructure Services Company also based in Kalispell, had a similar culture and commitment to customer service. Telmon provided different services than Alamon, offered unique ways of providing their services, and had a separate customer base. The acquisition would provide opportunities for Telmon employees and customers – including making all Telmon employees part of the Alamon ESOP – and both companies could learn from each other and create a better company together. The timing seemed ideal as well, as the Telmon President planned to step down and wanted to ensure Telmon employees and customers were in good hands.
Solution
An existing client of SES ESOP Strategies and its affiliated law firm Stevens & Lee, Alamon engaged Stevens & Lee to provide legal counsel for Alamon’s acquisition of Telmon. The Company purchased the assets of Telmon, diversifying its revenue stream and growing its profits through the acquisition. All 29 Telmon employees were hired by Alamon and became employee owners as part of the acquisition. The transaction closed on August 31, 2020.
“We are very happy to welcome more employee owners on board through our strategic growth,” said Brad Cronk, President of Alamon. “We’ve worked with professionals from SES ESOP Strategies for many years, and we have always been impressed with the thorough and professional work they do on behalf of ESOP-owned companies.”
For more information, please contact Ed Renenger, President and CEO, at 610.478.2238.