Employee Stock Ownership Plan

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DIXIEPLY is now 100% employee-owned

Dixie Plywood and Lumber Company (DIXIEPLY), a leading wholesale distributor of building materials, is proud to announce it has become 100% employee-owned through an Employee Stock Ownership Plan(ESOP). The ESOP was announced to DIXIEPLY’s employees on November 1st by Dan Bradley, President of the 75 year old company. The ESOP became effective October 31, 2019.

Employee share owned plans: A business model with a superpower

Kerry Siggins and Michael Russell are believers that an employee-owned model for business provides tools to get the most out of workers. Siggins, CEO of StoneAge Inc., maker of waterblast tools and automated equipment for industrial cleaning applications, cited the company’s founders, John Wogamott and Jerry Zink, as the original adopters of an employee share owned

How Startups Are Wooing Employees With ESOP Buybacks

With increased investor attention, India has become one of the largest ecosystems for startups globally. Startups in nearly all sectors are trying to push the envelope by introducing innovations, schemes and ideas. One such scheme that has attracted the likes of Razorpay, Oyo, Flipkart, Moglix is the employee stock ownership plan (ESOP) buybacks. Payment solutions

NewAge becomes fully employee owned

As it reaches 65 years in business this year, NewAge Industries also has another reason to celebrate. It became fully owned by its employees through its Employee Stock Ownership Plan. The company, which manufactures plastic and rubber tubing, started down the path to employee ownership through its CEO Ken Baker in 2006. But Baker learned

Employee Stock Ownership Plan at Immel Construction

At Immel Construction, 100 percent of the company’s stock has been sold to its employees through an Employee Stock Ownership Plan – the next step in the firm’s evolution in ownership – but Immel will continue to operate under the same business model and structure. “We are excited to usher in this new era at Immel Construction

Central Ohio energy company goes employee-owned

Utility Technologies International Corp., a Groveport-based company that works in management, engineering, construction, operations and maintenance of natural gas pipelines and infrastructure, has completed a transition to employee ownership. The company, founded by CEO Richard "Dick" Dickerson in 1992, is now controlled by the 69 people who work there. Several of UTI's former shareholders will

California Business Owners Spread The Wealth By Selling Their Companies To Their Workers

With unemployment rates hitting historic lows and state GDP now eclipsing the UK’s, California’s economy seems strong. But many workers are not reaping the rewards. Their wages aren’t growing along with their companies, or even keeping up with the rising cost of living. Most workers struggle to save enough for retirement. And they feel unprepared for

Ready to Sell Your Business? Your Employees Might Be the Best Buyers–Here’s Why

Bill Roark remembers the rug being pulled out from under him, in 1999, when his employer was sold to an outside buyer. Though the acquirer tried to find a job for Roark, "when all was said and done, I was on the street corner with a check and a 'good luck' goodbye," he says. "I didn't want

After 50 years in business, office supplier announces new owners: its employees

Metro Sales Inc. is a Richfield, Minn., company that sells printers and copy machines throughout the Upper Midwest. It's not a big-name company, but it is a successful one; it has nearly 300 employees and has been in business for 50 years in 2019. The company is marking that golden anniversary by turning ownership over

New Belgium Brewery’s employees think like owners. Because they are

It’s a bright morning in Fort Collins, Colorado. An overnight fog has just lifted. And inside the New Belgium Brewery headquarters, a big, glassy barn of a building, the craft beer producer’s CEO, Steve Fechheimer, is facing a firing squad. “There’s been some concern around Mural,” he says, referring to the company’s most significant new

This Columbus architecture firm is now owned by its employees

MKSK Inc. is now employee-owned. The Brewery District-based urban design, planning and landscape architecture firm has completed a transition of its ownership structure to an Employee Stock Ownership Plan. That means its 100 employees, split between Central Ohio and six regional offices around the country, are now its owners. "It's an opportunity for us who

Hercules Industries Becomes Employee Owned

Hercules Industries announced that effective October 1st, it will become an employee-owned company. The existing shareholder group is planning on transferring 100 percent of Hercules shares to an Employee Stock Ownership Plan (ESOP). "For the past two decades Hercules has grown to over 20 locations and five manufacturing facilities through hard work and investments back into

Minneapolis restaurant Hell’s Kitchen is selling — to its employees

Hell’s Kitchen, the cheekily named restaurant in downtown Minneapolis that’s known for its house-made peanut butter, lemon ricotta pancakes and crazy huge bloody Mary bar, is turning over ownership of its operations to employees. Instead of selling the 17-year-old restaurant to outsiders, owners Cynthia Gerdes and Steve Meyer (co-founder and Gerdes’ husband, Mitch Omer, died

Macaran becomes 100% employee-owned

Macaran Printed Products a division of W.N. Van Alstine and Sons, Inc. has announced that the company has become a 100% employee-owned entity, converting to an Employee Stock Ownership Plan (ESOP) which became effective earlier this year. Macaran, a high definition pressure sensitive label converter in Cohoes, NY, was founded more than 44 years ago and

The ESOP: When your people are your company

Ex nihilo, out of nothing. When you began your business, it may have been an idea you brought to life with your own ingenuity and hard work. But now, if your company has grown at all, it also bears the image of other creators. Key employees have contributed ideas, talent, a history of hard work

Crafton embraces ESOP to preserve company’s culture, legacy

Matt Crafton’s entire life has been shaped by the company his father co-founded 56 years ago. Now, he’s put forth a plan that will help shape the lives of the people who work for it. On Sept. 3, Crafton Tull, a multistate engineering and design firm headquartered in Rogers, Arkansas, announced the formation of an

Benching your VC: The employee buyout playbook

Grow or sell? It’s the ultimate dilemma for startups. This dilemma can become even more acute when you’re the CEO of a VC-funded startup. You want to develop your product, while driving sales and marketing, so that the business can reach its full potential, but your VC’s fund has reached maturity and they want you to sell

NewAge Industries announces 100% employee ownership

At a company-wide meeting held on 5 September, it became official: NewAge Industries is now entirely owned by its employees through its ESOP (Employee Stock Ownership Plan). The event was the culmination of a plan first considered by CEO Ken Baker more than two decades ago. “I’ve had a lot of other business owners ask

Ownership of Yankee Publishing to Transfer to Employees

Yankee Publishing Inc., a family-owned business for 84 years, announced the sale of 30% of its shares to the company’s employees through an Employee Stock Ownership Plan or ESOP. The company, with 85 employees based in offices in Dublin and Manchester, New Hampshire, publishes Yankee, The Old Farmer’s Almanac, New Hampshire Magazine, Family Tree Magazine,