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Varnum Represents Digital Strategy Company Twisthink in ESOP Sale

October 26, 2022

Twisthink LLC, a Michigan-based digital consulting firm, recently announced it will transition company ownership to its workers via an Employee Stock Ownership Plan (ESOP). The move is anticipated to help attract talent, as well as provide tax advantages for further reinvestment in the growing company.

Varnum represented the owners of Twishink in the sale of 100% of its stock to the newly-formed ESOP, which was formed for purposes of the acquisition. Varnum negotiated and drafted transaction documents, coordinated loans and financing, established warrants and deferred compensation instruments and coordinated third-party banks, trustees, valuation professionals and other service providers. Scott Alfree, John Arendshorst, Katie Roskam and Ed Gusky led Varnum’s efforts in this representation.

Twisthink helps companies with digital strategies and solutions that connect human needs with emerging technologies. The Holland, Michigan-based company recently announced plans to move to a new headquarters at the Michigan State University Grand Rapids Innovation Park. The move will include a $2.2 million capital investment, which executives anticipate will lead to the creation of 37 jobs by 2025, roughly doubling its current staff. The Michigan Strategic Fund backed the relocation project with a $300,000 Michigan Business Development Program performance-based grant.

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