One way that ESOPs may grow in value and size, is through the acquisition of companies. These acquisitions may be bolt on acquisitions that expand existing services in a new geography, or they may be companies that provide a diversification in services and client base as a means to diversify risk of customer concentration. In many cases the acquired companies may not have considered becoming an Employee Owned Company, but do so as part of the acquisition. This may help explain why the number of ESOP companies remain relatively constant in the US, the number of employee owners continues to increase. This post will attempt to aggregate news stories from various sources to help illustrate the acquisition growth aspect of ESOP companies:
Updated April 15, 2024
April 15, 2024, Rapid-Line acquires Studio Wise. “That’s what led us to the Studio Wise acquisition, a … small company with a very strong brand and a big brand,” Weis said. “We’re achieving our objective by diversifying our … metal components only into a completed restaurant table product.” With the acquisition, Weis expects Rapid Line will help Studio Wise grow significantly over the next few years. Some of the Studio Wise’s outsourced manufacturing may be brought to the Rapid Line facility, but the company’s three in-house employees are staying on.
April 14, 2024, Ocaquatics, transitions to employee ownership via an EOT. She [Oca] told me how this decision was fueled by her commitment to preserve the company’s mission-driven ethos and share the success with those who have been integral to its journey.
April 2, 2024, Empowered Ventures acquires Benoure Plumbing Heating & Air Conditioning, “The entire Benoure family has been extremely proud to build this company and serve this
community since 1966, so selling Benoure was a bittersweet decision,” shared Brad. “I am excited to have found a buyer, Empowered Ventures, that I am confident will continue the legacy
my family has built. They will take care of the people who have helped build Benoure to what it is today for many years to come. I am looking forward to leading Benoure into the future and
working with the Empowered Ventures team to bring Benoure to the next level.”
March 28, 2024, Klimek Jewelry, transitions to employee ownership via an EOT. Bettina said: “I’m thrilled that I’ve been able to secure the future of the business and my team by taking the employee ownership route. I want to spend more time with my children and grand-children and this means I can gradually hand over the business to people who are committed to its future.”
March 25, 2024, Advanced Business Methods acquires The Office Shop. The move to acquire The Office Shop began in Spring of 2023. “We are excited to be partnering with a great local organization with deep roots in the communities”, said Jeff Ellingson President of ABM. “Scott and Jodie Johnson have formed a great locally owned and operated organization with a great staff, and we hope to continue that same path by providing exceptional sales, service, and products that all The Office Shop customers have become accustomed too. We are also thrilled that the local ownership will remain in these communities as The Office Shop employees are becoming owners of The Office Shop through our ESOP (Employee Stock Ownership Program), which will help continue the local hometown feel that The Office Shop is known for.”
March 4, 2024, Innovance acquires Jorgensen Conveyor and Filtration Solutions, Innovance is the holding company for four other manufacturing companies/brands located in Minnesota and Wisconsin— ALMCO, Lou-Rich, Mass Finishing Inc., and Panels Plus. Innovance Inc. plans to retain all employees of Jorgensen, and the entire Jorgensen team will become employee-owners at Innovance.
Jan 16, 2024 Border States to Acquire Winston Engineering, “I established Winston Engineering Inc. to make a positive impact on the construction industry and bring opportunity to our employees,” said Winston. “Joining Border States is the next step in that direction — they have an outstanding reputation, and their philosophy of taking care of each other, customers and vendor partners matches our approach. We bring professional engineering to Border States, and their network of branches connects us to a need for our services. When you combine this with employee ownership, there will be countless opportunities and benefits for the employees of Winston.”
Jan 3, 2024, United Electric Supply announced Tuesday that it have entered into a merger agreement with Kovalsky-Carr Electric Company. “Being part of United Electric and their Employee Stock Ownership Plan will support our long-term goal to invest in our associates and expand our business,” said Arnold Kovalsky, President of Kovalsky-Carr. “Our two companies share a philosophy and culture that focuses on our customers’ success.”
Dec 3, 2023, PFS Brands acquires Moser’s Foods. “Most importantly, all full time Moser’s employees will now become employee-owners. PFSbrands is a 100% employee-owned company,” Burcham wrote in a follow-up message to the Tribune. “Our PFSbrands leadership team, along with the current Moser’s team, will be exploring many different ways to improve work life for our employee-owners while delivering even better service to our loyal customers.”
Nov 10, 2023, ReVision Energy acquires Sunbug, Come 2024, former Sunbug offices in Westfield and Woburn will rebrand as ReVision; all 12 employees in the Westfield office will stay on, a company spokesperson said. Like other ReVision workers, the Sunbug team will eligible to become employee-owners through a stock program.
Nov 6, 2023, Recology acquires Sunset Garbage Collection. “This is a local company with a great history of providing superior customer service,” said Recology CEO Salvatore Coniglio in a press release. “Their outstanding work and focus on recycling make this a great fit for Recology.”
Oct 20, 2023, Bourg insurance acquired by Higginbotham, Established in 1948 in Texas, Higginbotham is an employee-owned, single-source solution for insurance, financial and HR services. The Bourg brothers pointed to Higginbotham’s family and community culture as being attractive to partner with, as well as the company’s employee ownership plan. “We’ve been a small business for years,” says Brad Bourg, president of Bourg Insurance. “With Higginbotham, we’ll have technology and support to move that forward, providing the same services but on a larger scale.”
Oct 12, 2023, Artisans Inc acquires Tri-Five Holdings, Tri-Five President Brandon Everman says, “We are thrilled to join forces with Artisans. This blending of our businesses provides both entities with a broader stable of exceptional products and artwork. Our sales rep footprint will also grow substantially. We are also excited that all of our employees will have the opportunity to become employee owners of Artisans.” Headquartered in Glen Flora, Wisconsin, Artisans Inc. was founded in 1963 and has been a 100% employee-owned company since 2017.
Oct 11, 2023, Precision Walls acquires SPS Corp, Brian Allen President/CEO of Precision Walls stated, “Moreover, as a testament to our commitment to shared success and collaborative growth, we are excited to welcome our new colleagues from SPS into our Employee Stock Ownership Plan (ESOP). Becoming a 100% employee-owned company in 2019 further strengthened our strong culture of employee engagement and collective success. As stakeholders, our entire team shares a commitment to safety, quality, and delivering exceptional customer service.” By extending our ESOP model to the SPS team, we emphasize our commitment to our new team members and maintaining a people-focused culture.
Oct 5, 2023, Short Elliott Hendrickson Inc. (SEH®), a national employee-owned engineering and architecture firm, announces the acquisition of assets from RAM USA, widely recognized for its groundbreaking patented technology for facility and infrastructure assessment. This pivotal move increases SEH’s service offerings and reinforces SEH’s commitment to leveraging technology for improved facility and infrastructure solutions.
Sept 29, 2023, Lithos Engineering joined GEI Consultants, For Lithos, joining GEI is a perfect fit,” says Robin Dornfest, President of Lithos Engineering. “Lithos has experienced considerable success and growth since our humble beginnings, resulting in the need and desire to further invest in our employees, systems, and clients to ensure an exciting and rewarding future for us all. Creating opportunities for our team has always been our mission and this merger enables us to realize that mission. As an employee-owned private company, GEI has the resources, experience, service mix, and culture that fits Lithos’ current and future needs. An attractive feature of this merger is the opportunity for all Lithos employees to become owners in the business as ownership opportunities are offered to all GEI employees.”
July 15, 2023, Gilbert Electric, Cannon & Wendt merge. “Gilbert Electric and Cannon & Wendt share the same philosophy of taking care of their people and because of that commitment, the decision to merge with Cannon & Wendt was made easier since Cannon & Wendt is a company that is employee-owned (ESOP),” Kostyo said. “Going forward, the employees at Gilbert Electric will become part of the ownership group, and time employed at Gilbert Electric will count as far as vesting in the ESOP program. It’s good for the employees and as owners, I believe they will take even more pride in their work and the day-to-day operation of the company.
July 15, 2023, Harps Food Stores an employee owned company has acquired Janiese’s Supermarket.
June 28, 2023, Fairfax Ace Hardware has just merged with the employee-owned, local Ace Hardware chain, A Few Cool Hardware Stores. “We’re thrilled to have this store be part of this group,” she said. “It’s our 13th in the Washington Metropolitan area. All our stores are members of the national Ace Hardware Cooperative for purchasing to give small, hardware stores larger buying power to stay competitive.”
April 19, 2023, Maine-headquartered, employee-owned, engineering, environmental, and surveying consulting firm Haley Ward has acquired Betsy Lindsay, a Florida-based surveying and mapping firm with approximately 200 employees. Haley Ward’s President & CEO Denis St. Peter said “We know that this partnership will allow us to offer even greater value and expertise to our clients throughout Florida.By joining forces, we will be able to offer a wider range of services, including aerial surveying and drone mapping, as well as providing a broader geographic reach.”
Jan 30, 2023, Crosby Group Kito Corp complete merger, The combined company will invest in its people, products and facilities to advance innovative solutions for customers, who will benefit from expanded service, support and training. Under the new entity, Kito Crosby team members will be participants in the employee ownership program.
Jan 15, 2023, Citadel EHS has acquires RMD Environmental Solutions. “The bringing together of Citadel and RMD will enhance both firms’ capabilities and geographic reach, enabling the combined firm to help solve our clients’ environmental assessment and remediation needs, meet compliance requirements, manage health and safety risk and achieve their sustainability and ESG goals,” says Loren Witkin, Citadel’s CEO. Comments Kirsten Duey, RMD’s president, “Joining Citadel is an exciting milestone for RMD, not only for the benefits it brings our clients, but because it also brings important long-term benefits to our employees, who will become owners through Citadel’s employee stock ownership plan (ESOP). Interestingly, RMD was not seeking to join with another firm. This relationship happened organically and felt right.”
Jan 6, 2023, Global Infrastructure Solutions (GISI) completes acquisition of Hill International. “The completion of our merger with Hill International is GISI’s fifth strategic merger or acquisition during 2022,” said Rick Newman, GISI president and CEO. “Our employee-ownership model differentiates us and is an important feature of our growth, recruitment, and professional development initiatives.”
Jan 3, 2023, Parametrix acquires Good Company, Parametrix, a 100-percent employee-owned engineering, planning, and environmental sciences firm, has acquired Oregon-based Good Company, expanding the firm’s climate and sustainability service offerings nationwide.
Jan 3, 2023, AVN acquires Mid-Atlantic Technology & Innovation Center (MATRIC). “This is an exciting day for our company, our employees and our customers. This year, we will celebrate our 20th anniversary of operation under a new name and legal structure, but with the same commitment to delivering excellence to our customers around the world,” said Hedrick, AVN CEO. “Previously, our non-profit status was impeding our ability to grow, and our name use was restricted. With a new name and legal structure, we have the ability to pursue new avenues of operation and market penetration. We will build off our company’s strong heritage in West Virginia and the science and technology communities, while charting a new course for growth. I am absolutely certain that our visionary founder, Dr. George Keller, would be thrilled with this development.”
Dec 2, 2022, Russ Davis acquires Liberty Fruit, Russ Davis Wholesale Inc. has acquired Kansas City, KS-based produce wholesaler Liberty Fruit Co. Inc. Now part of Russ Davis’s Employee Stock Ownership Plan, Liberty will continue to operate independently and will be led by its existing leadership team. According to Liberty CEO John McClelland, the opportunity to become 100 percent employee-owned was the driving force behind the merger.
Nov 11, 2022, Colmore acquires Clear Solutions, Meek said: “We are very pleased to have completed this acquisition. Tony Wynne has built a loyal client base over many years and wanted to make sure that they are serviced by a firm that will act in their best long-term interests. “He had the option to sell the business to a large financial institution but chose Colmore Partners due to our reputation for doing things properly, with a proposition and level of service to match.”
Nov 8, 2022, Bostwick Braun acquires Mill Supplies, Former owner Andy Beckstein said, “Karen and I are excited to announce the acquisition of our company, Mill Supplies, Inc., by the Bostwick-Braun company. We feel it is the best possible succession plan for our employees and business. Our employees are our success story; offering them employee ownership with Bostwick- Braun is exciting and fulfilling. The partnership with Bostwick-Braun makes us both stronger, better, and poised for future success.”
Sept 22, 2022, Rexco Equipment acquires JO Scherrman, “I am very pleased to be bringing the JPS customers and employees into the Rexco family,” Rexco president and CEO Josh Bottelman said. “The alignment of our companies’ core values make us a great match. We are confident JPS customers will continue to receive the great customer service they are accustomed to. I am also excited to combine our product offering with JPS’ portfolio to enhance our customer’s experience.”
July 22, 2022, Christensen Group acquires Foster White, Foster White has been owned locally for over 50 years and joining Christensen Group to become employee-owned was a way for owners, Jake Olinger and Tony Larson, to secure the local ownership far into the future.
June 18, 2022, Mass. Bay Brewing acquires Vermont’s Long Trail, “We have a shared commitment to the Vermont community and passion for making great beer,” Kenary said. “I speak on behalf of all the employee owners at Mass. Bay Brewing Company when I say that we are looking forward to the opportunity to carry on the Long Trail legacy in partnership with the folks in production, sales, and support functions who will be staying on as part of the transition.”
June 1, 2022, Foster White merges with Christensen Group. Everyone who works with Foster White will benefit from this: our employees, our customers, and the communities we serve. We have been owned locally for over 50 years, and joining Christensen Group to become employee-owned, is a way for us to secure that local ownership far into the future.
May 3, 2022, Integrity Marketing Group acquires Ash Brokerage Corp. Ash Brokerage was founded more than 50 years ago in Fort Wayne. Integrity says Ash Brokerage Chief Executive Officer Tim Ash, who has led the firm since 1997, will become a managing partner in Integrity once the deal closes. “By partnering with Integrity, Ash Brokerage will have access to a more diversified mix of life, health and wealth solutions, enabling our advisors to design and deliver more holistic offerings for their clients,” Ash said in written remarks. “The breadth and depth of Integrity’s data and technology perfectly complements our own extensive systems and services, which allows our team to compete at an even higher level. We’ve chosen to unite so we could have a greater impact on the lives of the people and communities we serve.” Integrity says Ash employees will have an opportunity to participate in the firm’s employee ownership plan.
April 21, 2022, BCI acquires Lakeside Container Corp, BCI is an Employee owned company that operates nine other sheet plants and five sheet feeder joint ventures in nine states throughout the East, Midwest and South. “Lakeside will continue to operate as a sheet plant (Lakeside Division) of BCI, aligning with our two other New York Region divisions in Rochester and Syracuse, where we expect them to grow and prosper in their regional market. We are excited about the acquisition and happy to have them join BCI.” The 30-plus employees who were working at Lakeside Container, have also been offered jobs to stay on and work for BCI, George said
March 17, 2022, Parman acquired Wilder Equipment. “With the leaders at Parman Tractor & Equipment, the skilled staff and top-notch product offerings, we look forward to providing outrageous service,” the company said. “As an employee-owned company, we aspire to create opportunities. With the acquisition of Wilder Equipment, we are growing our brand, service offerings and the opportunity to create value for the employee-owners of the Parman Companies.”
March 16, 2022, Saalex, Saalex has acquired Netsimco. “This acquisition is part of a long-term growth strategy we have put in place to significantly grow our business to become one of the largest employee-owned IT services providers in the DoD space,” said Travis Mack, president and CEO of Saalex. Saalex will operate Netsimco as a wholly owned subsidiary and expects to grow into an organization with $100 million in annual revenue through the transaction. Netsimco operates with more than 180 employees in four states and has seen an annual growth of 20 percent in the past six years.
Dec 14, 2021 Empowered Ventures, Empowered Ventures acquires Paramount Plastics. “Since starting Paramount nearly forty years ago, we’ve worked hard to build a business on which so many employees and customers depend,” said Lim, former president and co-founder along with Jessie Prugh and Dennis Lim. “We are very happy to have found a buyer, Empowered Ventures, that will look out for Paramount and the people we care about for the long-term.” Empowered Ventures is an employee-owned company. President Chris Fredericks says the Paramount employees will have the opportunity to join the company’s Employee Stock Ownership Plan.
Dec 8, 2021, Coborn’s Inc, will acquire Tadych’s Econofoods. Coborn’s Inc. is an employee-owned company that operates grocery stores across Minnesota, Wisconsin, North Dakota, and South Dakota. The purchase of Econofoods marks the company’s first venture in Michigan. “It’s [Econofoods] in good hands. It’s another employee-owned company, I actually feel really good about the transition,” he told the Gazette on Monday. “We’ll be able to keep the employee-owned family business feel, instead of becoming more of a corporate type. “The name on the building has changed, but the internal workings, the customer service in stores, is going to stay the same.”
Nov 23, 2021, Carter Myers Acquires CrossPointe, “Liza and CMA share our commitment to our communities, and our associates will now have the opportunity to own a piece of the firm by joining CMA.” We’ll also be able to use CMA’s purchasing power to extend our existing inventory of new and used vehicles, as well as our service and parts business for all makes and models. To achieve those objectives, we will hire more technicians, salesmen, and parts employees, all of whom will be eligible for company shares,” said John Grist, Miller Auto Group’s Vice President and COO.
Nov 17, 2021, Town and Country Foods acquires Heebs Fresh Market. “The biggest thing for the Heebs employees — future Town and Country Foods employees — is the opportunity and the potential to become employee owners with the rest of the employees of Town and Country Foods,” Town and Country president Travis Frandsen said. “It’s a big deal. They will get to share in the growth of Town and Country Foods. They will get stocks and have certificates held for Town and Country Foods. It helps them understand a little bit that they are working for themselves too, not just working for an owner.”
August 27, 2021, Captrust, Captrust will acquire Chicago-based Ellwood Asssociates. “When looking for the next step for Ellwood, we knew we wanted to be a part of a majority employee-owned firm to continue our own legacy of employee ownership,” according to Ellwood’s Timothy Egan, who will move to Captrust as a principal.
August 20, 2021, Threaded Fasteners, Inc. (TFI), a 100% employee-owned business specializing in the manufacturing, custom packaging, and distribution of steel fasteners has acquired RTC Threaders, formally Ruja Tooling Corp based in Churubusco, Indiana.
July 7, 2021, Integrity, Integrity will acquire Leazer Group a rapidly growing independent marketing organization (IMO) headquartered in Raleigh, North Carolina. The Leazer Group will now offer its employees meaningful ownership through Integrity’s Employee Ownership Plan.
June 24, 2021, Butler/Till, – Butler/Till, a women-owned, employee-owned, results-driven marketing agency, today announced that it has acquired Digital Hyve, a digital marketing agency ranked among Adweek’s 100 Fastest Growing Agencies and one of the fastest-growing private companies in the United States. “Digital Hyve is a natural fit with our culture. They, too, share a passion for their people and are committed to creating a caring, compassionate workplace. Like our employees, they embrace innovation, cutting edge technology and provide top-notch client service,” said Jones. “Butler/Till has been committed to continually making strategic investments to expand service offerings for our clients and strengthen a culture of agility and adaptiveness. The acquisition of Digital Hyve is an exciting opportunity for employees and clients of both organizations as we continue to usher in a new era of growth, innovation, and transformation.”
April 13, 2021, Parametrix, Parametrix is an employee-owned engineering, planning and environmental sciences firm. It said the acquisition increases the depth of its geomatics and survey practice and adds additional survey professionals to the firm’s Puget Sound survey team. “Together with Pacific Geomatic Services, we continue to expand the depth of services we offer to the communities and clients we serve,” said Parametrix CEO Jeff Peacock. “We’re thrilled to combine Parametrix’s benefits of employee-ownership through our Employee Stock Ownership Plan and our reputation as a best place to work with Pacific Geomatic Services’ surveying expertise and new North Puget Sound location.”
April 12, 2021, Empowered Ventures, Empowered Ventures has acquired Firstar Precision Corp., a precision machining company located in Ohio. Empowered Ventures is an employee-owned holding company that acquires closely-held businesses. “As an employee-owned holding company, we help companies like Firstar by providing a straightforward, low-friction buyout process that results in the employees joining our diversified ESO,” said Empowered Ventures Chief Executive Officer Chris Fredericks. “By working with Empowered Ventures on their succession planning, an owner can sell their business and receive the peace of mind that comes with transitioning ownership to the employees, which is a win-win outcome for a business, like Firstar,” said Spencer Springer, vice president of Empowered Ventures. “When employees think like owners, they become more engaged, invested, and strategic. All our businesses have a bright future with the employees leading the way.”
March 31, 2021, Peerless-Midwest, Indiana’s newest ESOP! MISHAWAKA — A locally based water supply contracting company will become an employee-owned business on Thursday. The transition to employee-ownership came about as a divesture of the parent organization.
March 30, 2021, Integrity, Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has acquired Modern Insurance Marketing, Inc. (“Modern Insurance”), an independent marketing organization (“IMO”) based in Wilsonville, Oregon. For more information about Modern Insurance’s partnership with Integrity, view a video at www.integritymarketing.com/ModernInsurance.
Feb 16, 2020, Kinkade Funeral Chapel, The Kinkade family had operated the business for more than 55 years, but in December, Kinkades became employee-owned as a member of Pioneer Enterprises, Inc., a group of regional employee-owned funeral service businesses headquartered in Sioux Falls. “Many family firms no longer had succession within a family. We have become an alternative for those families to feel comfortable in allowing their employees to go forward in an ownership role and a management role,” Maassen said.
Feb 16, 2021 Senior Care Benefits, Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has acquired SeniorCare Benefits (“SCB”), one of the industry’s most rapidly growing direct-to-consumer contact centers. “Being able to offer employee ownership is going to change the conversations when we’re trying to recruit and retain the best talent in the industry,” added DePeppe. “Our digital brokerage is better equipped with Integrity, now offering benefits that are beyond anything else available in the industry. Providing our agents and employees with the expanded resources and company ownership that Integrity provides is something we could have never done on our own.”
Jan 29, 2021, Fairmont Firm, Terms of the transaction were not disclosed, but this isn’t the only deal Integrity has made this month. On Jan. 12, Integrity acquired a much larger health care services company, Connexion Point, based in Sandy, Utah, that has about 3,000 employees. Earlier this week, the company also acquired CSG Actuarial, based in Omaha. IFC owners Dave Martens, Dave Thesing and Todd Villeneuve and IFC employees will remain with the firm, and as part of the deal will get shares in Integrity’s Employee Stock Ownership Plan. Martens, Thesing and Villeneuve were insurance industry veterans who founded IFC in 2003.
Jan 8, 2021 WM Kelly, Indiana-based WM Kelly has acquired Lauyans & Company and engineering and manufacturing firm in Louisville KY.
Jan 7, 2021 Muncie Aviation Co, Indiana-based Muncie Aviation Co. (MAC) has acquired aircraft sales and maintenance provider Des Moines Flying Service (DMSF), in a merger of two of the oldest companies in private aviation.
Jan 1, 2021, Performance Validation, Indiana-based Performance Validation a 100% S-Corp ESOP has acquired Welsh Commissioning Group. “We are extremely pleased to have the Welsh Commissioning Group, Inc. join Performance Validation and the ownership culture we have here at PV,” said Richard Van Doel, President and CEO of Performance Validation, Inc. “Welsh will serve as an important growth engine for expanding PV’s capabilities in providing Building Commissioning services and expand our geographic reach in providing Commissioning, Qualification, and Validation services to the life science industry.” Bryan and Joan Welsh will retire from the business and Tim O’Neill will continue to lead the Welsh Commissioning Group as a Division of Performance Validation. Bryan commented, “I am very happy to have partnered with Performance Validation, as it will allow all WCG employees to become owners in the business and ensure that WCG remains a vibrant and successful part of the Pacific Northwest business community.”
Dec 15, 2020, Trachte Building Systems, Trachte Building Systems has announced the acquisition of three related businesses located in Vernon, Alabama: Roof Mart, LLC, Made Right, LLC, and Metal Land, LLC.
Dec 9, 2020, Oswald Companies, The brokerages Oswald Companies and RCM&D have entered into a definite agreement to strategically merge and launch Unison Risk Advisors a 100% employee owned company. “Roof Mart’s entrepreneurial roots and customer-focused culture make the Roof Mart team a natural fit with employee ownership. We welcome the Roof Mart teammates to the Trachte team. We will invest in our Vernon operation to enhance the value of all of our combined products and services for our customers.” Jeff Burbach, CEO Trachte Building Systems
Dec 4, 2020, Jay Petroleum, Jay Petroleum purchased a majority of the assets of Ottawa Oil Co., including fuel transportation, dealer sites, consignment sites and convenience stores, expanding its retail footprint to 57 stores throughout Northern Indiana and Ohio. “We are profoundly grateful to our employees and the communities we have had the pleasure to serve,” said Janel Kruse, General Manager of Ottawa Oil Co. “Jay Petroleum’s track record for serving communities and history as an employee-owned company were very important factors in our selection of them.”
Dec 3, 2020, Davey Resource Group, Davey Resource Group, a subsidiary of The Davey Tree Expert Company, has acquired assets of EEE Consulting (3e) in Virginia. “Davey Resource Group and WSSI are excited to welcome the employees of 3e into the Davey family,” said Ken Joehlin, vice president and general manager, DRG Environmental Consulting. “3e brings a broad range of expertise and experience partnering with municipal and government clients that will enhance the environmental consulting services WSSI offers to clients in Virginia. This acquisition also strengthens Davey’s commitment to providing diverse consulting solutions to our clients.” Like Davey, 3e has been employee owned. Under employee ownership, staff members are given the opportunity to become owners through an Employee Stock Ownership Plan (ESOP), an employee benefit plan that gives workers ownership interest in the company through stocks. Davey has been employee-owned since 1979 and is the ninth largest employee-owned firm in the U.S.
Nov 25, 2020, Norco, Norco, an employee-owned family company based in Boise, announced in a press release the acquisition of Arc Services in West Jordan, Utah.
Mar 5, 2020, Helwig Carbon Products, Milwaukee-based Helwig Carbon Products Inc. has acquired the brush holder product line of Naperville, Illinois-based J. Ream Manufacturing.
Jan 20, 2020, Cross Company, Cross Company, a 100% employee owned industrial solutions company that is innovating industry, one customer at a time, announced today they are acquiring Flow-Tech, a process instrumentation and measurement technology sales and service provider based in Hunt Valley, MD.