Welcome to the second edition of The Blueprint! Although 2020 was a strange year in every respect, the construction industry proved to be extremely resilient as evidenced by M&A activity rebounding dramatically, with Q4 deals equivalent to the same period in 2019. This high level of deal activity continued in Q1 2021, driven, in part, by speculation surrounding a large infrastructure package coming out of Washington. Meanwhile, many companies saw the global pandemic as an opportunity to take a fresh look at their ownership and capital structures to best position their businesses for success in the years to come. In this edition of The Blueprint we profile Emery Sapp & Sons (“ESS”), a heavy civil contractor that is 100% owned by an ESOP. ESS CFO Keith Bennett takes us behind the scenes with a compelling and entertaining story of how ESS and its ESOP has evolved over the years. You do not want to miss this!