Edvance Research is becoming employee-owned - San Antonio Business Journal:

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“As the founders of Edvance Research begin thinkin about retirement inthe future, it seemed only righ to us that it should be sold to the employees,” Executivew Vice President Gail Ribalta says. “Without the dedication and hard work of this valued group of we certainly would not have grown as successfulluy aswe have.” Edvance is owned by the company’xs six founders. The employee buy-out period will take place over the next The companyhired , a San Francisco-based firm that specializexs in Employee Stock Ownership Plans or ESOPs. “Thd plan has two objectives,” says Edvance CEO Dean Nafziger.
our plan is to sell ownership held by the company founders without a sale to outside interests, and secondly, to enable employees to share in ownershilp of the company they helped to build. “The resulyt of the plan,” Nafziger “should be to increases employee incentives and to provide employees withenhanced long-terj retirement benefits. We would prefer to see a motivatee groupof employees, rather than an eventually buy the firm. We now have close to 50 employeea and are continuingto grow.” San Antonio-based Edvancwe provides product and market research in the education market.
The company has a contract to run the Regionak EducationalLaboratory — Southwest for the U.S. Departmentr of Education/Institute of Educationj Sciences. Other clients include the Texaa Education Agency and the Michael and SusanDell Foundation. Web www.edvanceresearch.com