Ronnie Barnet, CFO of H&R AgriPower, explains how being an ESPO (Employee Owned Stock Ownership) organization has been advantageous during acquisitions. He says there are both financial and employee benefits to going through acquisitions with an ESOP.
This interview is part of the Dealership Minds Video Series brought to you by Laforge.
CFO: ‘Conducting’ the Orchestra
Years with Organization: 26 (joining the company just 4 years after its founding). Worked for a regional CPA firm for 3 years before joining H&R, one of his accounts. (“I joke with Wayne Hunt that I knew how bad he needed me before he did,” says Barnett.)
Role: “Pretty much anything that involves money,” which Barnett says spans personnel to operations to finance through customer service. He oversees 25 staffers comprising accounting, asset management, legal/compliance, marketing/communications, IT/Systems and HR. “Most of my time lately has been with acquisitions (6 locations in the last 2 years), namely the due diligence, contract negotiations and then the integrations.”