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Atlantic Management Company, Inc. Advises on ESOP Transaction for Schuber Mitchell Homes

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Valuation | M&A | ESOP | Ownership Transition

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Everyone Should Love Coming Home.

Schuber Mitchell Homes is pleased to announce the transition to a 100% employee-owned Public Benefit Corporation

We are honored to have worked with the Company through its transition to 100% employee-owned. We are excited to continue working with the Company and see the great things it will do for its community.”
— Sandra Smith, Vice President at Atlantic Management Company, Inc.
PORTSMOUTH, NEW HAMPSHIRE, UNITED STATES, March 11, 2020 / -- Schuber Mitchell Homes is pleased to announce the transition to a 100% employee-owned Public Benefit Corporation through the sale of stock to a newly created employee stock ownership plan (ESOP). Atlantic Management Company, Inc. served as independent financial advisor to the ESOP's trustee.

Schuber Mitchell Homes was founded in 2011 in the wake of the Joplin, Missouri tornado, which was one of the worst natural disasters in US history. The Company's founders, Daman Schuber and Dan Mitchell, recognized the community's need for a reliable, reputable, and honest company to help it rebuild. The Company prides itself on providing affordable homes with sustainable building practices and superior fixtures and furnishings. Joe Harris, owner of Harris Homes, merged his company with Schuber Mitchell Homes in 2016. The three selling shareholders seek to serve their community and honor God in all that they do.

In February 2020, the Company reorganized into a Public Benefit Corporation. Its purpose is to create a material positive public impact on society through its business.

The Company currently serves the communities in Joplin, Webb City, Carl Junction and Neosho, Missouri, as well as Bentonville and Centerton, Arkansas.

Joe Harris commented, "We are honored to have partnered with so many talented professionals with the same goal of sharing this company with our employees. This transaction represents a milestone event for Schuber Mitchell Homes and will be remembered as a key moment in our history. Not only did we allow our employees to join as owners, but created an amazing Public Benefit Corporation structure to secure our culture in a very tax efficient manner."

About Atlantic Management Company, Inc.:

Founded in 1968, Atlantic Management Company, Inc. is a leading financial and transaction advisory firm that provides business valuation, ESOP and merger and acquisition services for privately owned middle market companies from its offices in Portsmouth, New Hampshire and New Orleans, Louisiana. The firm works with over 90 ESOP companies throughout the country each year.

Sandra Smith
Atlantic Management Company, Inc.
+1 603-427-8500
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