West Monroe Partners, a full-service North American business and technology consultancy, today announced that it has restructured as an Employee Stock Ownership Plan (ESOP) trust. The transaction completed on December 31, 2012, transferring 100-percent of ownership to the ESOP trust. All U.S. employees, currently numbering more than 325 people, will participate as beneficial owners of the firm.
Since its inception, West Monroe Partners has operated on the principle of remaining employee owned and people focused—advocating that this environment produces a team of professionals personally invested in service quality and motivated to act in the best interests of each other, the firm, and its clients.
“Restructuring as an ESOP is an exciting development for both our clients and people,” said Dean Fischer, West Monroe Partners’ CEO and co-founder. “This takes our concept of employee-ownership to an even higher level by making everyone part of a team whose actions and decisions impact our client service and, in turn, drive our company’s performance and value. It also better positions our company to take advantage of emerging growth opportunities that enhance our ability today to assist clients in a dynamic marketplace.”
The privately held ESOP also enables West Monroe Partners employees to participate in the continued growth and success of the company through the vested value of stock allocated to their accounts, and it provides an attractive financial benefit as they build their careers with West Monroe Partners.
“It’s a cliché, but in our profession it’s absolutely true: People are our product. Attracting and retaining the best people is essential to our success,” Fischer added. “Establishing the ESOP formalizes and strengthens the concept of employee ownership and reinforces an important aspect of our core values. It is one of a number of steps we have undertaken recently to refocus on our people and their career opportunities at West Monroe Partners and to build a solid and attractive workplace for future generations of employees.”
West Monroe Partners, which celebrated its tenth anniversary in business during 2012, has demonstrated a strong track record for year-over-year growth. In addition, it has received national recognition as a leading employer from Vault.com and Consulting Magazine, as well as from major business publications in three of its primary markets: Chicago, Seattle, and Columbus.