A Blank Rome team represented Impact of Minnesota, Inc., a holding company that wholly owns two operating businesses: Impact Mailing of Minnesota, Inc. and Infinity of Minnesota, Inc. (“Impact” or “the Company”), in completing a transaction to become 100 percent employee-owned through its newly created Employee Stock Ownership Plan (“ESOP”).
After decades of significant expansion and growth, the shareholders of Impact—a leading independent and data-driven integrated marketing company providing integrated marketing services, print and mail production, order fulfillment, and critical document services for clients throughout the United States—have transitioned 100 percent of the Company’s total ownership to all of the employees through a qualified retirement plan known as an ESOP. All eligible employees will be granted shares of Impact stock each year, at no cost, allowing them to earn ownership over time solely through their service to the Company and accumulate tax-deferred retirement wealth.
Blank Rome acted as legal counsel in connection with the transaction.
For more information on this transaction, please read the press release: Impact of Minnesota, Inc. Becomes 100% Employee-Owned Through an Employee Stock Ownership Plan.
The Blank Rome team was led by Jason S. Luter, partner and chair of the firm’s ESOP practice, and included Shlomo Troodler, Dalila Berry, Jason Ray, Lauren Forster, Donald Slater, Kaitlin Spurling, and Tyler Buchholz.
