Ronnie Barnett is the Chief Financial Officer of a 14-store Case IH dealer group.
With mergers and acquisitions bringing more locations under one umbrella, and the fast-rising valuations of dealerships limiting the potential pool of buyers, a greater use of Employee-Owned Stock Ownership Plans (ESOPs) is expected by many to be seen in the years ahead. The advantage that machinery dealers may see with ESOPs, according to Agri-Service’s Clint Schnoor, are liquidity for owners (while allowing them to remain involved), rewards for the employees building the business, tax savings and an “ownership culture.”
Speaking on the panel, Clint Schnoor is the President of an 11-store AGCO dealership.
To provide insight into the myriad factors involved with ESOPS and whether the option makes sense for your dealership, a special “Dealer-to-Dealer” panel session has been assembled at the 2015 Dealership Minds Summit. Three executives, who each have direct experience in establishing and overseeing the ESOPs at their farm equipment dealer groups, will participate in the panel.
The panelists will share why an ESOP was chosen for their dealerships as well as the required structures, lessons-learned, and what considerations dealers will face in preparing for and proceeding with an ESOP. The dealers presenting include:
Shawn Skaggs is the Chief Operating Officer of a 3-store AGCO dealership.
--Shawn Skaggs, Chief Operating Officer, Livingston Machinery Co., Chickasha, Okla., a three-store AGCO dealership with 85 employees.
--Ronnie Barnett, Chief Financial Officer, at H&R Agri-Power, Hopkinsville, Ky., a 14-store Case IH dealer group.
--Clint Schnoor, President, Agri-Service, Inc., Twin Falls, Idaho, an 11-store AGCO dealership.
About the 2015 Dealership Minds Summit: The once-every-two-years event will be held January 13-14, 2015 at the Historic Hilton Netherland Plaza Hotel in downtown Cincinnati. Limited seating is available. For more info and to register (Early Bird Deadline: 10-15-14), click http://ow.ly/BBnxv.