100-percent employee owned

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Cornerstone Systems announces 100 percent employee owned

Memphis-based third-party logistics provider, Cornerstone Systems, Inc. announced that it is now a 100 percent employee owned company as Founder/Chairman Rick Rodell sold his last 51 percent. In 2013, Cornerstone officially became an ESOP when Rodell sold 49 percent of his shares to the newly created ESOP. “When you’re 49% ESOP, you’re in deep,” President/CEO

Loftness in Hector becomes employee-owned

Loftness Specialized Equipment Inc. based in Hector, MN has joined an employee stock ownership plan. Through this change, the manufacturer of agricultural and vegetation management equipment is now 100 percent employee-owned. “Our employees, as well as the entire community of Hector, mean very much to us so we’re excited to present them with this new

Loftness Becomes 100-Percent Employee Owned

As of January 1, 2020, Loftness Specialized Equipment, Inc. has joined an employee stock ownership plan (ESOP). Through this change, the Minnesota-based manufacturer of agricultural and vegetation management equipment is now 100-percent employee owned. “We’re proud to become 100-percent employee owned,” said Gloria Nelson, president and CFO of Loftness. “Our employees, as well as the

SCJ Alliance Is Now 100 Percent Employee Owned

With the graying of America, many businesses are looking towards what comes next. Nationwide founders, creators, officers and owners are researching transition options as retirement age approaches. For SCJ Alliance , the choice was clear, though not exactly simple. They decided to keep the business in the family, so to speak, by becoming 100 percent employee owned,

Wilson Electric is now 100% employee-owned

Wilson Electric Services Corp. announced that the company’s ESOP (Employee Stock Ownership Plan) has purchased the balance of the company shares, making it 100 percent employee-owned. Wilson Electric, a leader in the electrical contracting industry, has been a partial ESOP since 2005, with employees owning 47 percent of the company’s overall shares. On May 21,

MISys, Inc. Becomes 100% Employee Owned Through ESOP

Manufacturing Information Systems, Inc. (MISys), a leading manufacturing software solutions company based in Woodstock, VT has announced that the firm is now sharing beneficial ownership with employees by becoming 100% owned by an Employee Stock Ownership Plan (ESOP) Trust. As an employee-owned company, MISys, Inc. will continue to operate under the same business model. "The ESOP was a natural

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

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

Business flows for employee-owned firm

Anyone who’s taken a swim in the Sheraton Waikiki's infinity pool, or driven past the fountain at the entrance to Kahului Airport or looked up at the corner of Auahi and Kamakee streets to see Anaha’s glass-bottomed pool cantilevered over the street is familiar with Pacific Aquascapes’ work. The locally owned company is one of

Moving forward by giving back

After owning and running DACO Precision Tool for more than 30 years, co-founders Randy Weber and Lloyd Kanzenback decided the best way to move forward was to give the company to the employees. As of July 2017, the company has been 100 percent employee-owned, giving the 50 employees benefits that are no longer commonly received. The

Fund Evaluation Group Broadens Its Equity Ownership

Fund Evaluation Group (FEG), one of the largest independent, full-service investment consulting firms in the U.S.[1], was sold to its employees by means of an employee stock ownership plan (ESOP) last Friday. All current managing principals will remain fully engaged in the business, and are excited to more broadly distribute the equity ownership among firm