BDO Capital Advises Newcomer Concrete Services on the sale to an ESOP

Norwalk, OH – December 31, 2024 – BDO Capital Advisors, LLC (BDO Capital) is pleased to announce that Newcomer Concrete Holdings, Inc. (Newcomer or the Company) has sold 100 percent of its stock to a newly formed Employee Stock Ownership Plan (ESOP). BDO Capital served as the exclusive financial advisor to Newcomer on this transaction, which builds on the firm’s robust ESOP Advisory experience in the construction industry. Blake Head, Managing Director, and Adnan Muminovic, Vice President, led the client engagement for BDO Capital. 

Newcomer, originally founded in 1980, has carved a niche as a leading contractor specializing in concrete removal, installation, curbing, and excavation services throughout Ohio. Their work spans both public and private sectors, including roads, schools & universities, medical facilities, parks and stadiums, and commercial and retail parking lots. 

Newcomer Concrete Services logo.

When discussing with my partners our options for our respective exit strategies, we were aware of ESOP’s but knew little about them. The ownership group wanted to continue the values and legacy of the company and provide another way to reward our dedicated team of employees.  With our introduction to BDO Capital we achieved a thorough understanding of what an ESOP is and how it would help us achieve these goals. The team’s knowledge and dedication in helping us achieve our goals was unparalleled, and they worked all hours to help us accomplish this in an accelerated timeframe. We would recommend BDO Capital to any other companies exploring this option.

David A. Newcomer
Owner, Newcomer Concrete Services Inc.