A new employee stock ownership plan will provide employees with a financial stake in Nussbaum Transportation. The Hudson-based freight carrier has transitioned 35 percent of the company ownership to employees through an Employee Stock Ownership Plan (ESOP). “We’re excited to bring our employees into ownership of Nussbaum Transportation,” said CEO Brent Nussbaum in a statement.
Morrico Equipment LLC announced that its company has become employee owned. The announcement was made last night during a special employee meeting at the Hilton Guam Resort and Spa. The conversion to an employee-owned company, also called Employee Stock Ownership Plan, became effective March 31. As the company fast approaches 30 years in business on Guam,
In most businesses, the owner works harder than anybody. The extra push beyond just the paycheck comes rewarded by equity in a company that grows in value. Oliver’s Market, with nearly $175 million in sales expected this year from stores in Cotati, Windsor and two in Santa Rosa, launched an employee-stock-ownership plan in 2017. So
Strategic Financial Solutions, which has targeted growing to at least 1,500 jobs in Amherst in the next few years, is now employee owned. The New York City-based company took the step through an Employee Stock Ownership Plan at the end of 2017, said Ryan Sasson, the company's chief executive officer. "We've had many investors show interest in Strategic,"
Case goods and contract furnishings manufacturer, Whitewood Industries recently announced that it has sold its privately-owned company to its employees through an Employee Stock Ownership Plan (ESOP). The company, founded in 1982 by partners Jorge Mata and Ron Feibel, was originally a supplier to ready-to-finish furniture stores. Yet over the past three decades they diversified
The success story of custom furniture manufacturer Whitewood Industries has been the transfer of its ownership to its more than 300 employees. The Thomasville company said Monday it was sold in December to its employees through an employee stock ownership plan program, known as ESOP. It was founded in 1982 by Jorge Mata and Ron Feibel.
Leading Edge Avionics, one of Southern California's most trusted and experienced aviation brands, announced today that current CEO Kathryn Brewer has acquired the company and will give an ownership stake to employees later this year through an employee stock ownership plan (ESOP). Brewer acquired Leading Edge from aviation entrepreneur Mike Manclark, who is known for
USA Mortgage's sole owner, president and CEO, Douglas Schukar, transferred ownership of the company to employees through an Employee Stock Ownership Plan (ESOP). Schukar said he'd been mulling the idea of an ESOP since 2015, when a pair of employees abruptly resigned citing a lack of a succession plan at the company. "I was stunned,"
The founder and chief executive officer of St. Louis-based USA Mortgage has transferred his entire ownership stake to his employees. USA Mortgage, a division of DAS, finalized its employee stock ownership plan (ESOP) at the end of December after an independent valuation. Doug Schukar, who founded the company in 2001, will continue to serve as
The 90 employees of Windover Construction can now say they own the company. Windover announced recently it has transferred its ownership to the employees by forming an employee stock ownership plan. Its former owners were Manchester resident Lee Dellicker, who is still CEO, and company president Stuart Meurer of Newbury. Dellicker, in an interview, said the full-service construction management company, with revenues approaching $130
Paytm is now capitalized at $10 Billion making it the 2nd most expensive internet company in India post Flipkart. The latest valuation of the company comes after 200 workers of the Noida-located company traded shares from the ESOP (employee stock ownership plan). This scooped up $50 Million. In 2017, Paytm had collected $1.4 Billion in
Standard Golf Company has announced the successful transfer of a 100 percent ownership of the company to its employees via an Employee Stock Ownership Plan effective Jan. 3, 2018. When Standard Golf Company President, Peter Voorhees, started thinking about succession plans for the business, he had many options, and selling the company to an unknown party
A deal worth £148m ($198m) for Birmingham-based engineering company IMI to acquire an American counterpart has completed. In December it was announced that Bimba Manufacturing, which was founded in 1957 and is headquartered in Chicago, will become part of IMI Precision Engineering's US Industrial Automotion business. Completion was conditional on merger clearance and the approval by
California-based Shutterfly, the big online retailer and manufacturer of personalized photography and related products and services, plans to pay $825 million in cash to buy Eden Prairie-based Lifetouch, an employee-owned company and a leader in school photography. "We're focused on growing both these businesses," Shutterfly CEO Chris North said during a visit to Eden Prairie
Kenya Airways has listed additional shares on the Nairobi Securities Exchange to enable a share split and simultaneous consolidation of the company’s stock, closing the intricate financial and capital restructuring process – the first of its kind in this market – and securing the airline’s future. The restructuring saw the Kenyan Government increase its share
Staab Construction Corporation has announced it recently completed a transition to become 100 percent employee owned through its Employee Stock Ownership Program (ESOP). “We have been transitioning to 100 percent employee owned for the past few years,” said Ben Lee, Chief Operating Officer. “We started the ESOP in 1989, with the goal of eventually being
Tri Wire Engineering Solutions, a broadband service installation company for the telecom industry headquartered in Tewksbury, announced that in January, 100 percent of the company's common stock was transferred to the employees through an Employee Stock Ownership Program, making Tri Wire one of the largest broadband service companies completely owned by its employees. With
Switchback Brewing, with a thirty thousand barrel production capacity and 30 employees now joins half a dozen other breweries around the country that have established ESOPs - or Employee Stock Ownership Plans. More than six thousand other U.S. firms are now ESOPs, with a total employment of more than fourteen million workers. There are perhaps
A mid-sized Vermont brewery has become the latest employee-owned craft beer company in the US. On February 8 the Switchback Brewing Company in Burlington, VT officially became the first 100 per cent employee-owned brewery in the state via an Employee Stock Ownership Plan (ESOP). At the company’s annual meeting, owner and brewmaster Bill Cherry announced
Dennis Frampton spent nearly 50 years working at Meadville's C&J Industries, a custom plastic-injection molder and medical device contract manufacturer, founded in 1962. When retirement beckoned for the company's president and chief executive in 2016, he and his family members serving on C&J's board of directors opted against selling the plant to an out-of-town company