Legend Valve & Fitting, Inc. (Legend or the Company) is a leading wholesale distributor of braided valves, fittings, tubing and components for plumbing, heating and hydronic systems. The Company also manufactures tubing for potable piping systems. Legend is committed to exceeding customer satisfaction by delivering quality products, performance and service guarantees. The Company has provided its customers with all their behind-the-wall plumbing needs since 1988. As leaders of the Company, David Hickman (founder, president and CEO) and Walter Jann (executive vice president) grew the Company into an industry leader and began discussing how best to position the business for continued growth and success. David and Walter sought to better understand their strategic alternatives to prepare for a transition that would align the Company’s employees with the business’s overall success.
Baker Tilly Capital, LLC (BT Capital) worked with the Company’s owners to help them understand the various strategic alternatives available. Legend’s owners elected to pursue the sale of the Company to an Employee Stock Ownership Plan (ESOP). The strategic move reflects Legend’s commitment to its employees and the belief in shared ownership as a critical driver of long-term success. This decision was driven by the desire to align the employees’ interests with the business’s overall success, fostering a sense of shared responsibility and collaboration. As owners, Legend employees will have the opportunity to share in the success of the Company beyond essential employment and have an even stronger commitment to serving its customers.
In addition to providing strategic alternatives, BT Capital acted as a co-adviser to the transaction.
Legend will continue to operate under its existing management team, with David and Walter in leadership positions. The Company’s day-to-day operations, commitment to innovation and dedication to deliver exceptional service will remain unchanged. Legend’s leadership team is confident that this strategic move will enhance the Company’s competitiveness, drive sustainable growth and create long-term value for all stakeholders.
We are excited about this critical development in our business. Employee ownership ensures that we will remain an independent, locally operated company. The values that have allowed us to prosper for more than three decades, Downstream Thinking®, will continue unchanged, and the mission that drives our efforts will remain steadfast, allowing us to make a positive impact now and in the future.David Hickman and Walter Jann