CSG Bolsters Presence in Arizona and Florida

CSG Partners has added key personnel in Florida and Arizona to accommodate growing regional demand for employee ownership-focused business transition strategies.

A pair of experienced directors, John Marino and Mike Norton, have joined the ESOP investment banking leader in Phoenix and Fort Lauderdale, respectively. The hires reinforce CSG's commitment to building local relationships and providing on-the-ground support to middle-market business owners and their trusted advisors.

"Throughout our 25-year history, CSG has helped dozens of Arizona and Florida-based companies build ESOP-led succession plans and growth strategies," said Lawrence Kaplan, Founder and Managing Partner of CSG Partners. "This isn’t new territory for us. But considering the rising cultural awareness of ESOPs and the strength of these local markets, we felt it was the right time to offer greater access to our nationally-recognized team of advisors."

According to data from the National Center for Employee Ownership (NCEO), both states are seeing increased activity in the ESOP space. Florida is home to more than 200 ESOP companies, employing tens of thousands of workers. Meanwhile, Arizona and the U.S. Southwest are among the country’s fastest-growing regions for ESOPs. CSG has been at the forefront of this employee ownership push, with nearly 20 closed or in progress Arizona-based transactions since 2023.

"Arizona’s embrace of employee ownership is unlike anything I’ve seen in my 17 years of ESOP investment banking," noted George Thacker, a Managing Director at CSG. “This is a trend that’s been building since we closed our first in-state transaction in 2017, but over the last couple of years, the rate of ESOP adoption has really accelerated, and bedrock, middle-market companies are setting the pace.”

To lead the firm’s market expansions, CSG has brought on a pair of professionals with strong local ties and demonstrated business advisory track records:

John Marino, Director – Phoenix, Arizona

John Marino brings over a decade of experience in business consulting to CSG, having worked with trusted advisors and their middle-market clients on a range of strategic and technology initiatives. A long-time client engagement leader with FTI Consulting, Marino was instrumental in cultivating market awareness and tailoring solutions for the legal, financial services, and accounting industries – all key partners in the employee ownership ecosystem.

A Phoenix/Scottsdale resident, Marino has a well-earned reputation as a community-focused, relationship-driven business expert. In addition to leading FTI’s pro-bono programs, he is a passionate fundraiser for youth-focused organizations and other philanthropic efforts. He will leverage his deep understanding of the regional economy and his extensive network of relationships to serve Arizona’s growing market of current and future employee-owned companies.

Mike Norton, Director – Fort Lauderdale, Florida

Mike Norton is an investment banking advisor with hands-on experience in management consulting and family-business operations. A transaction advisory expert, he spent the past decade underwriting, structuring, and raising capital for transactions totaling over $3 billion in value. A former executive at Pritchard Griffin Advisors, Norton has also led strategy and sales efforts at Invesco and Edward Jones, among other top organizations.

Based in South Florida, his extensive professional network includes top commercial banks, private lenders, asset managers, and business leaders across various industries. A natural problem solver, connector, and passionate ESOP advocate, Norton is a trusted advisor to middle-market business owners seeking tailored solutions for ownership transitions.

In both markets and nationwide, employee ownership has proven to be a winner for local communities. There are over 6,700 ESOP-owned companies in the US, and these businesses consistently outperform their peers in terms of performance, sustainability, and broad-based wealth building. That’s backed up by decades of research.

"This is an important time for our team as we invest in these key regions, Arizona and Florida have strong, flourishing independent business communities, but both states also have high concentrations of owners who will be looking to retire or transition their companies in the next five to 10 years." 

 

—Lawrence Kaplan, CSG's Founder and Managing Partner

"An ESOP-led succession plan can help businesses maintain their autonomy, preserve local jobs, and pass the torch to loyal employees," added Kaplan. "That contrasts sharply with sales to private equity firms, out-of-state companies, and other third-party buyers who may relocate a business’s operations and significantly reduce staff. We have a powerful opportunity to offer local businesses personalized employee ownership resources, enabling them to stay anchored in Arizona and Florida, as engines for working-class wealth."