Business View Magazine March 2023

118 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 3 leading industrial distributor of motion control and fluid power solutions including automation, robotics, pneumatics, hydraulics, electrical motors, and hose and fittings. The company serves over 5,000 customers from its locations in Kentucky, Indiana, West Virginia, Alabama, Mississippi, and Florida. All of its employees, nearly 400, transferred to the Houchens team. AHP had considered forming its own ESOP before the COVID pandemic, but ownership strategically felt this was a better decision. There is a risk of failure with ESOPs that prevent other companies from adopting the model. ESOPs are extremely complicated and require very experienced and knowledgeable advisors to help shepherd a company through the transition. “We are often contacted by ESOPs or other companies that want to join an ESOP because of how strong of a reputation we have,” Shirley says. “In essence, we often serve as a type of consultant for companies looking to learn more about ESOPs as well because of how much we have grown.”