Moore & Van Allen advises Midwest Equipment Company on Employee Stock Ownership Plan sale
Moore & Van Allen PLLC (MVA) is pleased to announce its role as sole legal counsel to Midwest Equipment Company, a leading commercial foodservice equipment distributor, on its successful sale to The Midwest Equipment Employee Stock Ownership Plan Trust (ESOP). MVA members Michael (Mike) E. Zeller and Daniel (Danny) L. Johnson, Jr., and associate Michael C. Tarwater, Jr. led Midwest in the transaction, which officially closed in October 2018.
“It was our pleasure to work with Midwest in this exciting and fruitful deal,” said Zeller. “Jim and his team are well esteemed in the foodservice industry, and we’re happy to see the company positioned for continued success as an employee-owned entity.”
Midwest, founded in 1993, is headquartered in St. Louis, Missouri and has locations across Missouri, Kansas, Illinois and Arkansas. The company operates along four primary lines of business: national equipment sales and leasing, regional equipment sales and leasing, service and parts. Midwest Founder and CEO Jim Sramek will remain with the company, along with President Ann Bueler and the existing Midwest leadership team.
“When I first started thinking about my succession plan, I knew that I didn’t want to sell to anyone outside the company,” said Sramek. “I am so proud to announce that Midwest Equipment Company is now employee owned, and we’ll be able to continue working together to exceed our customers’ expectations throughout the foodservice industry.”