Employee Ownership

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For Owners Looking to Sell, an Option That Keeps Their Company Intact

In early 2000, Michael and Lynn Terry started a business selling horse trailers that were lighter than their competitors’ and customized to each client’s needs. Nearly two decades later, their company, Cimarron Trailers, with tens of millions of dollars in sales, employed over 130 people in Chickasha, Okla., and their trailers were sold at 30

Hunter-Davisson Becomes 100% Employee-Owned

On October 19, 2020, FMI Capital Advisors announced the transfer of ownership of Hunter-Davisson, Inc. (“Hunter-Davisson”) to company employees via the Hunter-Davisson, Inc. Employee Stock Ownership Plan (“ESOP”). In this transaction, Hunter-Davisson became 100% employee-owned. FMI Capital Advisors was the exclusive financial advisor to Hunter-Davisson for this transaction. Based in Portland, Oregon, Hunter-Davisson is a

Merrick’s Employee Ownership: What’s the Secret Sauce?

Merrick’s employee ownership journey started at the beginning of our company, with Founder Sears Merrick. In fact, the first stock transactions in Merrick’s history were recorded in the year we were incorporated, 1959. Sears had a theory that anyone who worked for themselves would work that much harder (and he was right!). From our inception,

A beginner’s guide to employee stock ownership

You’ve landed a new job in a new company. As part of the company’s benefits package, they’re offering stock options. What does it mean? Maybe, you don’t have any idea what stock options mean. It can also be that you’re not sure how to get started with it. It’s essential to note that most companies

Committed to Using Business As a Force For Good, Fireclay Tile Announces Significant Expansion of Employee Ownership

Fireclay Tile, the socially responsible California tile maker with a mission to do good, today announced a significant expansion to Employee Ownership. As the first and only Certified B Corp™ tile maker and the first Climate Neutral Certified tile company, Fireclay Tile strives to galvanize others in the industry to build a better version of capitalism by

Northern Tree Service Transitions To Employee Stock-Ownership Plan

Northern Tree Service Inc. announced it has transitioned the ownership of its business lines over to an employee stock-ownership plan, or ESOP. The Lazear Capital Partners team worked with the management of Northern Tree Service to design a custom solution that included employee benefits, financial flexibility, and maximum tax advantages. Founded in 1932 by Walter

CEM Machine announces it will become employee-owned manufacturer

CEM Machine Inc. announced to its employees Thursday morning that the privately held manufacturer has been bought out and will become 100 percent employee-owned. President Mark D. Robinson, who has been an owner of CEM since 2000, gathered about 30 of the company’s 55 total employees outside the West End Avenue facility — in order

Armstrong Craven Moves to Employee-Owned Business Platform

Executive search firm Armstrong Craven, headquartered in Manchester, U.K., has become a majority employee-owned business. The firm will continue to be led by joint managing directors Rachel Davis and Peter Howarth. “We have long believed that the well-known benefits of employee ownership, when combined with our extremely dedicated team, will be a recipe for success, and

DeBlois Electric of Lewiston now employee owned

DeBlois Electric Inc. announced Monday that the company is now 100% employee owned through an employee stock ownership plan. The announcement signals the beginning of a new ownership structure that will continue to operate with the same vision and leadership previously established. The privately held company was started by Willie and Gaetane DeBlois in 1967,

We will reduce inequality if firms offer workers company shares

The gap between rich and poor has widened in many countries over the past few decades and continues to expand. So here’s an idea: What if more companies allowed employees to own a share of the pie? Many economists and business experts think society would become more equitable if workers owned a stake in their

It’s really hard not to be an advocate of employee ownership

Employee ownership has too long been overlooked as a win-win solution for businesses and workers alike. That’s the view of Bill Young, founder and president of the Toronto-based Social Capital Partners. That’s because employee-owned businesses offer “a proven wealth-creating vehicle” for individual employees; long-term wealth can be more resilient than income, which may fluctuate over a

Harken Inc. founders decide to sell to employees

Peter Harken, the co-founder of internationally-renowned sailboat hardware and accessories manufacturer Harken Inc. in Pewaukee, says he and his late brother Olaf Harken rejected overtures from at least 50 potential acquirers over the years but now it’s time to “pass the baton.” Harken, 83, who is the company’s chairman, announced to employees Wednesday in the company’s parking

Does Everyone Want To Be An Owner

In theory, employee ownership through an Employee Stock Ownership Plan (ESOP) is an almost perfect idea, since it benefits employees and businesses equally and simultaneously. Shares are allocated to, rather than purchased by, the employees, which puts ownership within the grasp of many who might never own a business otherwise. Employees have a strong incentive

2020-09-17T08:47:42-05:00Tags: |

Don’t Wait to Begin Business Succession Planning

A common and costly mistake when it comes to business succession planning is not starting the process early enough. By waiting too long, an owner runs the risk of not having the right people in place to run the business, as well as having much of the business’ value consumed by estate taxes. Either misstep

New “Own Your Job” Job Board Helps Essential Workers Become Business Owners

Apis & Heritage Capital Partners (A&H) and the Democracy at Work Institute (DAWI) are announcing the release of the "Own Your Job" Job Board, an aggregated listing of open positions at employee-owned firms, with the goal of empowering job seekers to work at firms where they will have an ownership stake. This announcement comes as 28 million workers —

Greenfield Company Goes Employee-Owned

A Greenfield-based specialty underground contractor has switched its ownership status. Midwest Mole Inc. says it has transitioned to an Employee Stock Ownership Plan following the retirement of second-generation owner and Chief Executive Officer Dan Liotti. The company, which provides boring, trenchless tunneling, and directional drilling services throughout the Midwest, has been family owned since its

The benefits of transitioning your business to an ESOP

When an owner of a privately held business is planning to retire, there are many ownership transition options to choose from. You can go the route of a management buyout, transfer to the next generation, a sale to a third-party buyer, an IPO, or even liquidation. Each of these options has pros and cons which

Alltek founder sells company to employees

Alltek Energy Systems president and co-founder Mike O'Connor has sold his 40-year-old plumbing, heating and mechanical contracting firm to his 60 employees. O'Connor, 67, formed an employee stock ownership plan this month turning over 100% of the assets of a Waterford company that has worked on hundreds of hotels, supermarkets, restaurants, apartments, medical centers and college campuses

Policy To Turn Stakeholders Into Shareholders

In all the urgency of the pandemic and the economy’s re-opening, it is easy to ignore what other policies are going into place. But the fact is that much else is happening.  As part of those non-pandemic measures, this White House seems determined to broaden corporate ownership throughout the middle class. A first sign of this