Employee Stock Ownership Plan

/Tag:Employee Stock Ownership Plan

Coeur d’Alene construction company converts to employee ownership

Rick Carlson and his wife, Shelley, started Inland Waterproofing Services Inc. at their kitchen table and grew the specialty construction company into a business with large commercial accounts. When Boeing built its 40-58 777X composite wing factory in Everett, the Coeur d’Alene company waterproofed 2 miles of tunnels underneath the facility. The company also waterproofed foundations for

Sharing the spoils with employee share ownership

The proposal by John McDonnell, Labour’s shadow chancellor, to force companies of a certain size to hand over shares to their employees is controversial. But while his mechanism for increasing workers’ ownership has its critics, McDonnell’s motivations are widely shared. The arguments for employee share-ownership – improved engagement and motivation, for example – are solid.

North KC-based construction company becomes 100 percent employee owned

The last two private owners for Mega Industries Corp. agreed to sell their shares and make the company 100 percent employee owned. Founded in 1992 in North Kansas City, Mega Industries created an employee stock-ownership plan in 2006. However, CEO Brian Gordon and COO Craig Bridgeman still owned shares privately, outside the ESOP. They have sold those shares back

A Giant Company Wanted to Buy His Business for $120 Million. He Walked Away From It

On April 17, 2000, Gary Erickson told his wife, Kit Crawford, he needed to go for a walk. He'd spent the past three months in a haze--he was starting to realize that much. This day had seemed inevitable, and he'd let himself float toward it, not fighting, nor even resisting. In an hour, he was scheduled to meet with

Transferring Ownership Of A Midsized Firm: How HdL Made Its ESOP Work

Some 70% of owners of small and midsized U.S. businesses will retire in the next 20 years, selling or passing on $10 trillion in assets (California Association of Business Brokers). Yet 58% of 200 such firms surveyed last year by Wilmington Trust don’t have an ownership transition plan for the business. That’s a recipe for trouble for

Two linked KC companies go ESOP and announce rebranding

Two linked Kansas City companies have become employee-owned — under a new brand name. M.E. Group Inc. and Forte Building Science are now BranchPattern Inc. and have established an employee stock-ownership plan (ESOP), according to a release from BranchPattern. The company specializes in building construction consulting and is based in Overland Park. “People are at the

A Little Helping Hand: U.S. Congress And ESOP Support

Since 1974, very little legislation has been passed by the United States Congress regarding employee ownership initiatives. In the last two years, two new bills have made their way through the legislative chambers with the aim of encouraging employee ownership in U.S. companies: the 2017 and 2019 National Defense Authorization. Both bills extend Small Business

Sun Light & Power transitions to 100% employee-owned

After more than 40 years in business, California’s Sun Light & Power announced the implementation of an Employee Stock Ownership Plan (ESOP) giving 100% ownership to the company’s 80+ employees. The transition supports the company’s belief in its greatest differentiating assets: its people. “For 42 years, I have proudly owned the company. Now, it’s time

Capitalism for the common good

In the past few years, Mark Barnes and wife, Perri, were excited to prepare for their retirement from the lawn care and snow removal business, Barnes Inc., that they founded in 1981. But there was one thing that worried them: What would happen to their 145 employees — 175 during winter months — after they

Legend Seeds Now Employee Owned

As of Aug. 1, Legend seeds is an employee owned independent seed company. It was founded in 1990 by Glen and Janet Davis and had been family owned until this recent switch. Legend Seeds employs more than 100 people in the upper Midwest. The new Employee Stock Ownership Plan gives all employees ownership in the

Hundreds of Iowans allegedly ripped off in employee-purchase deal

In January 2014, the West Des Moines healthcare company Telligen posted a message to Facebook celebrating its new employee stock ownership plan. "It’s official! Telligen is now an ESOP company. We are excited about increasing employee participation in corporate ownership and look forward to all 2014 has to bring!" It wasn't long, however, before questions arose. The company's workers

Davey Tree, Buehler’s Fresh Foods rank among top 100 employee-owned companies

The Davey Tree Expert Company in Kent is now the 12th largest employee-owned company in the United States — moving up one spot from 2017 — according to the National Center for Employee Ownership. Davey, which employs more than 9,500 people, has been employee-owned since 1979. Wooster-based Buehler’s Fresh Foods, which became an employee-owned company

Chicago-Based Verit Advisors® Completes ESOP Transaction for Max Auto Supply Company

Verit Advisors®, a Chicago-based investment banking firm, is pleased to announce the completion of the 100% sale of Max Auto Supply Company to an Employee Stock Ownership Plan (ESOP).  Max Auto is the largest franchisee of Midas auto care and repair centers in the country with locations across Ohio, Michigan, New York, Pennsylvania, Kentucky, and

Local businesses give employees a piece of ownership

Three Hays businesses are in a group of about 4,000 companies nationwide that are 100 percent employee owned under a system known as Employee Stock Ownership Plans, or ESOPs. These businesses include Tradehome Shoes, which is located in Big Creek Crossing; Western Supply; and Eagle Communications, which is headquartered in Hays and owns and operates Hays Post. ESOPs are retirement plans

When To Consider An Employee Stock Ownership Plan

Keeping a family business within the same family from generation to generation is not always a possibility. Nevertheless, many family business owners want to ensure that the firm and culture they have worked hard to build is preserved well into the future. An Employee Stock Ownership Plan (ESOP) is a way to keep control of

Legend Seeds Transitions from Family Owned to Employee Owned

Legend Seeds proudly announces its transition from a family-owned independent regional seed leader, to an employee-owned independent regional seed leader through an Employee Stock Ownership Plan (ESOP) as of August 1, 2018. Founded in 1990 by Glen and Janet Davis, Legend Seeds has embarked on its 29th selling season in the seed industry serving dealers and growers across the

The Company Behind Some Of Hollywood’s Favorite Designs

If you need convincing that hats are back look no further than this September’s issue of Oprahmagazine, featuring Oprah wearing a stylish golden fedora from The Salting, which just launched its unisex fashion line heavy into hats online and in two pop-up shops in Tribeca’s 180 and Sag Harbor’s Sylvester & Co. Or Brian Dawkins at the Pro Football

Why This Consulting Firm Doesn’t Have An Exit Strategy

For most professional services firms, sustained growth usually involves an acquisition or a transfer of ownership.  Many founders in general have their eye on their end game in today's fast-moving, milestone-driven, valuation-obsessed business environment.  But for Bruce Ballengee, CEO and Co-Founder of Pariveda Solutions, Inc., a $100 million, 500-person technology strategy and solutions consulting firm, no exit

CFO says role is more than getting figures right

Peter Whitfield believes one of the most important duties of a CFO is to put people in position to succeed. “My role is not just about getting the numbers right, it is more about ensuring that everyone who needs to understand the numbers gets that education,” says the New York native. “It is also about

No Fable: ESOPs Gain Favor Among Business Owners Looking to Retire

After 20 years of running her consulting business, Jennifer Wise started to think about her next challenge: how to transition her company and retire. As the sole owner and founder of Wise Consulting — an HR and payroll consulting company — Wise said she started looking at options for the future of her business about