Prairie is a leading middle-market investment bank provided a fairness opinion to the trustee of the Berger Group Holdings, Inc.
FOR IMMEDIATE RELEASE / PRURGENT
OAKBROOK TERRACE, IL – January 28, 2019 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, provided a fairness opinion to the trustee of the Berger Group Holdings, Inc. Employee Stock Ownership Plan in connection with the recent $400 million all cash sale of the company to WSP Global, Inc.
Berger Group Holdings, Inc. (“Berger”), is the parent of the group of companies including Louis Berger. Berger is a global professional engineering and construction services corporation that helps clients solve their most complex infrastructure and development challenges.
Louis Berger, became an employee-owned company in 2012 as part of a $100 million recapitalization of the company and the ownership transition of Frederic Berger and several of the other owners in which Prairie also advised the ESOP Trustee.
Louis Berger has been involved in several marquee projects over their tenure in the engineering industry including the World Trade Center Downtown Restoration Program, the JetBlue Terminal at New York’s John F. Kennedy International Airport and was also responsible for bringing temporary power to Puerto Rico for emergency relief after Hurricane Maria.
The sale of Berger Group Holdings, Inc. was a nice return for the nearly 2,000 ESOP plan participants. According to Michael McGinley, director at Prairie and a member of the project team, “Berger is a great ESOP success story and one that showcases the value that employee ownership can provide, especially in the engineering and construction industry. The value created through the ESOP’s ownership in just over 6 years is remarkable.”
About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory and valuation services to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. Prairie consistently ranks as a Top 10 fairness opinion provider by Thomson Reuters and was named the 2017 U.S.A. Fairness Opinion Advisor of the Year by M&A Atlas. For more information visit www.prairiecap.com.