b'MEMBER NEWSIMTRA Sells Businessto Employees Through ESOP CreationI MTRA, a PVA member and leading man-ufacturer and importer of quality solutions and products for the marine, energy, and transportation markets, announced it has sold 100 percent ownership rights of the company to its employees through an Employee Stock Ownership Plan (ESOP). Making a compelling alternative to other sale events such as private equity or strategic sale, ESOPs allow the lead-ership team to stay in place while providing a competitive return for the shareholders without the potential challenges that often come with a change in control of a closely held business.The two members of the management team thatwerepreviousowners,Presidentand CEO Eric Braitmayer and Vice President ofFounded 70 years ago, IMTRA has always focused on employee satisfaction. Through an Employee Stock Ownership Recreational Sales Chip Farnham, will contin- Plan, IMTRA has sold full ownership rights of the company to its employees. ue to drive the business forward and focus on growth and talent development without the lingering concerns of what will happen withdisruptionsinouroperationssocustomersUnlikethevarietyofacquisitionsandcon-ownershipofthecompanydowntheroad.and suppliers should see us only improve insolidations currently underway in the marine IMTRA already has established a next gen- the new model. It is a win-win-win-win as notindustry, the ESOP solution allows IMTRA eration of skilled employees that are ready toonly our customers, suppliers, and employeestoremainindependent.Existingandbur-take on more responsibility and to contributewill be happy with the changes, but our share- geoning leaders on the team can continue to to the growth of the company. holders are also thrilled with the outcome ofrun the business with the same core values the deal. ESOPs are also an effective way toand ethics without disruptions to operations IMTRA has always been a company with aaddress wealth inequality in our culture andthatoftenoccurwhencontrolchangesin focus on employee satisfaction and personalthis is something important to us. private businesses.growth,saidBraitmayer.Wevehadgreat success with growing our team, building from within,andcreatingcareer-long,dedicated, and passionate team members. Passing own-ership along to our team is an honor and very much in line with our companys core values. Webelievethattransferringownershipto thosewhovebeeninstrumentalinbuilding this company is a great way of rewarding their efforts and keep them a part of building the future of IMTRA. IMTRAwasstarted70yearsagobymy grandfather and my father ran it for decades,RELIABLE POWER FOR A said Farnham. In that time, we have always endeavored to satisfy our three most importantDEMANDING SCHEDULEconstituents: our customers, supplier partners,Your business cant compromise when it comes to and staff. Our success has always been drivenmaintaining a demanding schedule. Thats why by building a team that takes exceptional carecustomers count on reliable John Deere PowerTech PHOTOS COURTESY OF IMTRAof our customers and partners.marine engines. With high torque and low-rated rpm, John Deere engines deliver dependable power and quiet operation.Braitmayercontinued,Findingawayto transition ownership without disrupting ourFull power range of marine engines 60 to 559 kw (80 to 750 hp)teams performance was a concern. The ESOP checked all the boxes in that there will be noJohnDeere.com/Marine37 JANUARY/FEBRUARY 2022'