Polsinelli Advises SME on Transition to Employee Ownership

Polsinelli recently represented SME Industries (SME), a Salt Lake City-based steel fabrication and erection firm, in connection with its transition to employee ownership. SME serves as a key contractor on high-profile, complex projects, including The Sphere in Las Vegas, SoFi Stadium in Los Angeles and Levi’s Stadium in the Bay Area.

Shareholder Wallace E. Brockhoff led a multi-disciplinary, multi-office and multi-level team of Polsinelli attorneys on a transaction that included many facets. In addition to the standard obstacles on any transaction, the team encountered unique challenges, including multiple layers of environmental and real estate title issues legal opinions covering four different state laws as well as ERISA. 

Employee Stock Ownership Plans Co-Chair Sean Power and Tax Chair William J. Sanders also played key roles in the matter. The team also included Environmental Chair Adam R. Troutwine and Shareholders Renee Lewis, Erik R. Edwards, Scott S. Ahroni, Jenny Cascone Mosh, Adam W. Smith, Emina Kwok and Brandon C. Pond. Additional support was provided by Associates Michael J. Mazzola, Brandon P. Krueger, Nichole M. Smith and Edward J. Yocum. The team was further supported by numerous additional attorneys and paralegals across the firm.