What does it really feel like to sell your company to an ESOP—especially at 100% ownership?

In this episode of ESOP Radio, Trevor Gilmore and Ben Spadt sit down with Ron Brown, CEO and former majority owner of Brown Construction, to discuss his decision to transition the company to a 100% employee-owned ESOP after more than 60 years of independent ownership.

Ron shares what succession planning looked like years before the transaction, the alternatives he considered—including third-party sales—and why employee ownership ultimately aligned best with his values, company culture, and long-term vision. The conversation explores the emotional side of selling, governance and control after the ESOP, valuation realities, communication with employees, and lessons learned from executing a full 100% ESOP in a single transaction.

This episode is designed for business owners, executives, and advisors who want a candid, real-world perspective on ESOP decision-making, tradeoffs, and long-term outcomes—from someone who has lived through the process.

ESOP Radio is the official ESOP podcast from Menke, where real stories of growth, succession, and long-term wealth building are told.

⚠️ This podcast is for educational purposes only and does not constitute legal, tax, investment, or fiduciary advice.

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• ESOP Radio: https://www.menke.com/esop-radio/
• ESOP Boot Camp: https://www.menke.com/esop-boot-camp/
• Confidential feasibility review: https://www.menke.com