CASE STUDY
Closed December 2025
A‑R‑T & Associates (A‑R‑T) is a national, full‑service experiential design firm specializing in environmental graphics, interior signage, custom art installations, large‑format printing, custom fabrication, and turnkey project delivery from design through installation. In late 2025, A‑R‑T transitioned to 100% employee ownership through an Employee Stock Ownership Plan (ESOP), a move sponsored by Southeast Acquisition Capital (SEAC) and financed with impact capital from Allivate Impact Capital® (AIC). The transaction preserves the company’s legacy and more than 20 existing jobs, while positioning the firm for long‑term growth and future job creation.
Company facts*
Background & Rationale
Operated by Christopher and Stacy Drew for over a decade, A‑R‑T had built a reputation for crafting branded environments that create a sense of place across sectors. As the owners evaluated retirement options, they sought a path that honored employee contributions and sustained the firm's culture and independence. After engaging M&A advisor Generational Group, the company selected an ESOP conversion with SEAC as the transaction sponsor, citing SEAC’s ability to pair mission‑aligned capital with operating expertise suited for small and mid‑sized companies.
SEAC’s role. SEAC led ESOP formation, structured the transition, recruited ongoing leadership support, and will oversee ESOP implementation—an approach designed to distribute ownership broadly and enable employees to “own the value they create.”
Allivate’s role. Allivate Impact Capital provided flexible, mission‑aligned financing through its employee ownership strategy, aiming to preserve quality jobs, foster wealth‑building for workers, and strengthen local economies.
Why should companies consider ESOPs now? SEAC notes ESOPs have created more than $2 trillion in wealth for U.S. workers, yet only ~1–2% of small businesses are employee‑owned—leaving substantial opportunity for firms with 20–200 employees to transition with the right partners. A‑R‑T’s conversion illustrates how ESOPs can be competitive with strategic and financial buyers while prioritizing long‑term durability and employee wealth creation.
Impact Thesis
Employee wealth‑building & retention. The ESOP establishes a broad‑based ownership model for all eligible employees, designed to deliver meaningful equity value over time while aligning incentives and improving engagement—factors linked to more durable business performance in SEAC’s approach.
Quality jobs preserved. The conversion preserves 20+ jobs in Atlanta with expectations for future job creation driven by growth, providing stability in design, fabrication, and installation roles that benefit from A‑R‑T’s national client base.
Succession with legacy intact. The ESOP honors the founders’ intent to reward the team that built the company while keeping the business independent for the long term, rather than being “flipped” to another investor.
Regional small‑business demonstration effect. By showing that ESOPs can work for firms with 20–200 employees, this transaction may inspire additional founder‑ and family‑owned companies in the Southeast to consider employee ownership as a competitive exit that also yields community benefits.
Projected Impact
“By giving the sellers… the option to transition their business to employee ownership, SEAC will help ensure that employees at A‑R‑T own the value they create.” — Michael Morosi, Managing Partner, SEAC
“As we considered our options for retirement, we wanted to transition the business in a way that honored [our employees’] contributions and enabled the team to continue to benefit from that foundation.” — Christopher Drew, former President, A‑R‑T & Associates