Plumbing and Mechanical

Syska & Hennessy In Management Buyout

September 14, 2000
Syska & Hennessy announced the completion of a management buyout of a controlling block of the firm's shares.

Syska & Hennessy, a New York-based consulting engineering firm, has announced the completion of a management buyout of a controlling block of the firm's shares. Under the terms of the transaction, the Syska & Hennessy organization repurchased company stock from the Hennessy family members not directly involved in the operation of the firm. The Employee Stock Ownership Trust will represent the largest shareholding group of the firm at approximately 35 percent.