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Los Angeles EWDD – LA Economic & Workforce Development helps transition company ownership from retiring owners to long term employees

From the Los Angeles Economic & Workforce Development Department:

The City of Los Angeles Economic and & Workforce Development Department recognizes Concerned Capital for transition of ownership work done to avert layoffs. The strategy was to target companies with retiring business owners and help workers buy the company. 

In 2016, EWDD awarded a contract to Concerned Capital, a mergers and acquisition firm based in LA’s downtown Arts District that specializes in helping employee/ownership buy-outs in small businesses, as part of a pilot program to use Layoff Aversion funding to transition company ownership from retiring owners to long term employees.

As part of their contract, Concerned Capital worked directly with three retiring Los Angeles small businesses owners, including a print shop and a bakery, helping them transition their businesses by selling to one or several of their employees, thus saving jobs and ensuring the business remained open.