Employee Stock Ownership Plan

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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

Palmer Holland Converts to Employee Stock Ownership Plan

Palmer Holland converted to a privately held Employee Stock Ownership Plan (ESOP) with an ownership team made entirely of employees. While Palmer Holland was a private company prior to the transition, this move solidified the organization's goal to remain an independent specialty chemical and ingredient distributor for the long term. While others in the sector have

Employee Shareholders Have Alternatives To Manage Their Pre-IPO Stock

Over the past 30 years of my career in startups, I have assumed the role of an investor, employee, executive and board member — all of which have been incentivized and compensated by varying levels of private company stock and options. This has provided me with incredible insights into the complexities of stock and option

Valuation Helps Set Plan for Succession Transitions

Cash flow is the lifeblood of any business, but for owners who want to pass their companies onto the next generation of leadership, it holds even more importance. When it comes to making the transition of a business from one generation to another – or selling it to another company – the valuation is one

Eileen Fisher built a fashion empire. Her employees now own nearly half of it

For many entrepreneurs, the ultimate goal is to take their company public. But for fashion designer Eileen Fisher, staying private and giving her employees a share of the business has allowed her to carve her own path to success. Fisher personally owns 60% of the company that shares her name, while the remaining 40% is

Pride & Service Elevator Becomes 100% Employee Owned

Pride & Service Elevator, Inc. has completed a transaction to become 100% employee-owned through its newly created Employee Stock Ownership Plan (ESOP). The Company was founded in 1983 in New York, NY, and has been designing, maintaining, modernizing and repairing elevators for 36 years throughout New York and New Jersey. The Company has been owned and managed by The Todd

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,

Selling a business to an ESOP offers more than just financial benefits

Business owners who decide to sell their company to an employee stock ownership plan (ESOP) often say they do so not just for the significant tax advantages, but to preserve their legacy. “They really want the business to survive them, especially if their name is on the door,” says Jim Altman, Middle Market Pennsylvania Regional

Barrio Brewing Company turns business over to employees

In an historic expression of gratitude as the annual season of gift-giving draws near, Barrio Brewing Company, the oldest craft brewery in the state of Arizona, today announced that it is transferring the entirety of the business' ownership to its employees through an Employee Stock Ownership Plan (ESOP) beginning in January, 2020. With this announcement, Barrio

SCJ Alliance Transitions to 100% Employee-owned Company

October was a month filled with excitement for SCJ Alliance employees and President/CEO Jean Carr. “I was privileged to announce to our employees that SCJ is now a 100% employee-owned company,” Jean shared. “Being a 100% employee-owned company is a way for our founders and previous owners to reward our employees for their dedication and

Employee Stock Options: Do Your Employees Use Them?

Employee stock options can help to secure the financial future of your workforce. But cost anxieties and the lack of information might be holding back participation in the employee stock ownership plan (ESOP). In this article, we discuss: The benefits of ESOPs for both employees and employers Five ideas to increase the participation rates Why

Bruce Lazear Lays Out The Anatomy Of An ESOP

Often, growing your company is not just about making money. It’s a part of your identity. "The idea of selling to a third party and being told it’s time to play golf for the rest of your life is terrifying to many,” Bruce Lazear says. “They don’t want to be irrelevant — and being rich

Will Employee Ownership Decrease Wealth Inequality?

Employee ownership advocates maintain that if more citizens were owners of businesses, then wealth inequality, and perhaps income inequality, would decrease. I believe it would, too. But I also say it depends. The History of the ESOP Taking note that the most common form of having employees be “owners” is the employee stock ownership plan, often

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

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

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,

‘A pathway to the American dream’

Bolstered by a vision of employee ownership, OwnersEdge Inc. is in growth mode. The City of Pewaukee-based holding company is headed by Lisa Reardon, who has expanded the business to include others in the field of niche technological solutions and expertise. All are structured as employee stock ownership plan companies, or ESOP companies. Reardon worked

Fighting Capitalism With Capitalism

As a human-resources professional, Jennifer Briggs got used to firing people. She’d refer to it as “layoffs,” “right-sizing,” or whatever euphemism her employer wanted her to use at the time. She was a foster child turned single mother who had relied on food banks to feed her kids, and, as unpleasant as it was, managing

Summers Trucking employees meet new owners: themselves

Summers Trucking employees gathered for breakfast Saturday morning at the Ephrata American Legion. After ham and eggs and all the fixings, the 91 employees learned that the Summers family owners, Becky, John and Ken, had transferred their shares in the business to an employee stock ownership plan (ESOP). With that move, the Summers management triad