CSG News

CSG Partners Advises Greenspan Adjusters International, Inc. on Sale to ESOP

SAN FRANCISCO, CA - November 30th, 2011: CSG Partners, LLC, the boutique investment bank, announced that it advised Greenspan Adjusters International, Inc. (Greenspan) on its recent sale to an Employee Stock Ownership Plan (ESOP).

Greenspan, one of the nation's leading public adjusting firms, provides insurance loss consulting services to commercial and residential clients primarily in California, Nevada, and Arizona. The company is headquartered in south San Francisco and operates additional offices in the western United States.

Eitan Milstein, a Managing Director in CSG Partners' San Francisco office, led the CSG Partners transaction team. Milstein commented, "We're proud to have worked with a leading organization like Greenspan. The ESOP was an excellent alternative to a traditional sale. The ESOP provided the selling owners with tax efficient liquidity while allowing employees to become owners and share in the company's future success."

"The ESOP was a 'win-win' alternative for the owners and our hard working employees," commented Gordon Scott, Greenspan's CEO. "After a long process we determined that the ESOP is an excellent way to reward our extraordinary employees for their continued dedication and efforts. We are thrilled to be able to do this and are particularly grateful to our clients and colleagues that helped make it all possible."

Greenspan's Chief Administrative Officer, Lauren Lizardo added, "We were continually impressed with the expertise and responsiveness of CSG Partners. They guided us through the entire ESOP process and were critical to the success of the transaction."

ABOUT CSG PARTNERS

CSG Partners, LLC is a boutique investment bank specializing in ESOPs, mergers and acquisitions, and capital advisory services for middle-market companies. Our clients have spanned the full middle-market spectrum, with values ranging from $10 million to $500 million. Founded in 2001, the firm has built a reputation of having the nation’s preeminent ESOP investment banking practice. The firm has closed over 100 ESOP transactions for companies with an aggregate value exceeding $7 Billion. CSG Partners operates from offices in New York and San Francisco. More information on the firm can be found at www.csgpartners.com.