Why would a successful CEO choose an ESOP over private equity? In this episode of Driven by DCKAP, JD Ewing — CEO of COE Distributing — shares why he chose an employee ownership model over a private equity exit, and what that decision means for the future of his business and profitability.But the ESOP decision is only part of the story. JD took over his family's wholesale distribution business at 19 years old with just $225,000 in revenue, built it into a multimillion dollar company, sold it — and then watched the acquiring company go bankrupt. So he started over from scratch, this time alongside his wife Melanie. Today, COE Distributing stands as one of the most profitable independent office furniture distributors in the US — built twice, and better for it.