Lester Sales Co., Indianapolis, has converted to an Employee Stock Ownership Plan (ESOP) as of April 14. Throughout the formation process, the company worked in tandem with ESOP Advisory firm, Lazear Capital Partners.
Lester Sales was founded in 1958 by Ernie Lester and was purchased by John Scott in 2012. Under his leadership, the company has continued to carry on Ernie’s legacy by building a foundation of strong relationships with employees, manufacturers and customers. In a recent address to the Lester team, Scott said, “our goal has always been to reward the dedicated employees that built Lester Sales and to provide a sustainable, professional sales organization for our vendor and distributor partners. The conversion to an ESOP accomplishes both of those missions as well as offering a significant benefit to attract and retain talent.”
Lester Sales Co. will continue operations as usual with no changes to its services or leadership team. John Scott will continue as CEO and Rick Gill as president.