If Capital Gains Rates Go Up, What Will That Do to M&A… Enter the ESOP Transaction


If Capital Gains Rates Go Up, What Will That Do to M&A... Enter the ESOP Transaction

While taxes are not the only driving factor when deciding to sell a business, it is a major topic when considering if an offer on the table will work for the shareholders. The current thinking is that 2021 should not have any sweeping tax changes, but 2022 should. If this holds true then there will be a pretty clear line in the sand in terms of when a deal must be closed by to receive favorable tax treatment for the owners. We will discuss the pros and cons to an ESOP in this environment and how to play 2021 and 2022-2024 if considering an exit in that time frame.


Learning Objectives:

  • How to handle 2021 and could an ESOP or Partial ESOP benefit your business
  • What to do if you fit into the 2022-2024 exit time frame with potentially higher capital gains rates
  • Understand that you may have had a misconceived notion of what selling to an ESOP actually looks like and how it can be a part of a hybrid exit


About the Presenters:

Learn from industry experts Brian Baum, Managing Director of Interchange Capital Partners, and Daniel Zugell, Senior Vice President of Business Transition Advisors | ESOP Advisory Group of Capstone Headwaters. Guest Presenters: Melissa Bizyak, Grossman Yanek and Ford, and Mark Nicklas, Nicklas Supply.

Meet the Presenters

Thanks to our sponsors!

S&T Bank




The EPI Pittsburgh Local Chapter is different than other groups because it brings together a diverse group of professionals from a wide range of specialties that can naturally work collaboratively on exit planning, succession planning, value growth, transaction or any engagement from both sides of the equation. The chapter meets regularly to network, reconnect, grow knowledge, and sharpen their skills with a common goal: Change the outcome for transitioning business owners. Make plans to join us for future events and connect with the local leadership by visiting www.EPIPittsburgh.org

About the Presenters

Brian Baum

Brian Baum

Managing Director,
Interchange Capital Partners

View Bio

Daniel Zugell

Daniel Zugell

Senior Vice President, Business Transition Advisors |
ESOP Advisory Group of Capstone Headwaters

View Bio

Continuing Education

This meeting qualifies for the following continuing education credits:

One (1) PA CLE credit (pending approval)


NOTE: Proper documentation must be collected and submitted to qualify for continuing education. For questions regarding awarded continuing education credits, please contact EPI.