Abbey Paving, founded in 1983, is a full-service site construction company that does anything from resurfacing parking lots to multi-million site developments. The company self-performs asphalt paving and concrete work, and also does in-house excavation. As the largest non-plant-owning asphalt paving contractor in the Chicago area, Abbey Paving’s employees are able to travel around Chicagoland to value engineer projects—increasing quality and saving money for its customers.
When Abbey Paving transitioned to a 100% S Corp ESOP in 2005, the company had to consider several financial factors, though ultimately, it knew it needed a defined succession plan and the ability to manage the company tax-free. Abbey Paving contacted Sikich to look over tax issues the company was having at the time, and the relationship blossomed from there—and allowed Abbey Paving to get better rates with bonding companies, enhance their relationship with the bank and compete with the Illinois Department of Transportation for projects. For more than six years, Abbey Paving has received sound, practical advice from the experts at Sikich.
This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.
About the Author
Sikich
From accounting, tax and assurance to technology and advisory, Sikich offers a unique formula of professional services to businesses and organizations across the country. By pairing subject matter expertise with the real-world experience gained as entrepreneurial leaders, we provide clarity to your complex challenges and solutions to strengthen every dimension of your business.
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