ALLWEST Testing & Engineering, Inc. announced it is now a 100 percent employee-owned company. The announcement comes on the heels of a record year for the company, which is based in Hayden.
ALLWEST experienced a 17 percent increase in revenue in 2017, a continuation of rapid revenue growth since the company’s Meridian office opened in 2012. ALLWEST’s Employee Stock Ownership Plan is being implemented this spring.
General Manger Chris Beck and other existing shareholders sold their stock to the ESOP. Those shares will now be allocated to employees who — over a period of time — will acquire increasing shares and rights to the stock until becoming fully vested as shareholders. “This structure establishes long-term viability for the company and rewards the employees who have helped make the company successful,” Beck said. “Our staff has always taken immense pride in their work. With the implementation of the Employee Stock Ownership Plan, each one of them will directly benefit from our success and growth.”
ALLWEST Testing & Engineering was formed in 1999 as Northwest Testing Company and converted to its current form in 2002. ALLWEST’s Spokane Valley office opened in 2004, followed by expansion to Lewiston in 2006 and the opening of a Meridian office in 2012. Beck will remain general manager and president of ALLWEST and the executive management team will continue in its current form. “The ESOP will not change the way the company operates,” Beck said. “Our management team is confident that this transition will make us even stronger as a company.”
ALLWEST employs 81 and serves the greater Inland Northwest region including Eastern Washington, Idaho and Western Montana. The premier, full-service firm provides professional engineering, environmental and construction materials testing services.