BDO Capital Advises Rovers North, Inc. on the sale to a newly formed ESOP

Burlington, VT – June 7th, 2024 – BDO Capital Advisors, LLC (BDO Capital) is pleased to announce that Rovers North, Inc. (Rovers North or the Company) has sold 100 percent of its stock to the newly formed Rovers North Employee Stock Ownership Plan. BDO Capital served as exclusive financial advisor to Rovers North on this transaction, which builds on the firm’s experience working with founder-led companies in niche retail industries. 

Founded in 1979, Rovers North is the number one source for Classic Land Rover parts and stands out as North America’s largest authorized Land Rover part supplier. Headquartered in Westford, Vermont, the company specializes in Land Rover Series, Defender, Range Rover Classic, and early Discovery vehicles. The sale to an ESOP will allow Rovers North to share its success with its employees and help keep jobs in Vermont.  

Rovers North, Inc. logo.

For a dozen years, we hoped an ESOP would provide a great exit strategy for our founders while maintaining the leadership team, keeping the business local, and rewarding our excellent staff. Selling to an ESOP was a big, cumbersome task until we started working with BDO Capital. Blake, Jacob, Hayden, and the BDO Capital team were the missing link. They put in an incredible amount of work to understand our company and negotiated the best deal on our behalf. I’d use BDO Capital again without hesitation.

Calef Letorney
CEO of Rovers North, Inc.