CLEVELAND, OHIO, Jan. 7, 2020 -- Palmer Holland, a North American specialty chemical and ingredient distributor of raw materials, converted to a privately held Employee Stock Ownership Plan (ESOP) with an ownership team made entirely of employees.
Read MoreGREEN, OH — Kovatch Castings Inc. (KCI), located at 3743 Tabs Drive, has adopted an Employee Stock Ownership Plan (ESOP).
Read MoreALLENTOWN, Pa., Jan. 8, 2020 /PRNewswire-PRWeb/ -- Through an exciting and culture enhancing transaction Andesa Services, Inc is pleased to announce their 165 employees now own 100 percent of the company, through an employee stock ownership plan (ESOP) executed by the Shareholders earlier today. An ESOP is an employee benefit plan which provides company stock to employees as part of their retirement benefit. The ESOP is in addition to Andesa's existing 401(k) retirement program.
Read MoreNAPA, Calif.--(BUSINESS WIRE)--One of the largest suppliers of wine to the world's airlines and cruise ships has become 100 percent employee owned.
Read MorePAQ Inc., an independent franchisee of Food 4 Less operating 20 stores in central and northern California, has created an employee-owned stock ownership plan (ESOP) in light of the retirement of owners Patricia and John Quinn. Business partner Glenn Evans will remain with the company as chairman of the board. The three partners founded the business in 1995.
Read More(CNN) 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.
Read MoreHighlights
Price protection agreements are designed to protect employee stock ownership plan (ESOP) participants from the transitory diminution in stock value that often follows a second-stage ESOP transaction.
The IRS has ruled that when, as a result of a price protection agreement, an ESOP participant receives payment for distributed shares in excess of the shares' current fair market value, the excess amount must be treated as ordinary income from employment.
The Pennsylvania House of Representatives recently advanced legislation that would provide incentives for Pennsylvania businesses to participate in Employee Stock Ownership Plans (ESOPs).
Read MoreOctober 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 commitment, as well as preserve our unique culture."
Read MoreDALLAS — December 10, 2019 — Integrity Marketing Group, LLC ("Integrity"), Integrity Marketing Group, LLC ("Integrity"), the nation's largest independent distributor of life and health insurance products, today announced the completion of a new Employee Ownership Plan. The plan provides meaningful ownership to all of Integrity's eligible employees who have at least one year of tenure, at no cost to them.
Read MoreNEW YORK, Dec. 10, 2019 /PRNewswire/ -- HR&A Advisors, Inc. (HR&A), a leading, national consulting firm providing services in real estate, economic development, and public policy, announced that current firm President Eric Rothman will become Chief Executive Officer on January 1, 2020. John Alschuler, who founded the firm and has served as Chairman, will remain an active Partner and Chair of HR&A's Board of Directors. HR&A's Vice Chairman Candace Damon will remain an active Partner and lead the HR&A Board's oversight of business strategy. The announcement accompanies broader strategic management changes to strengthen the firm's client focus and its growing impact on the vitality of urban communities nation-wide and globally.
Read MoreESOP Drives Ownership Culture and Passion for Client Service at Leading Tax Consulting Firm
Read MoreJ.S. McCarthy Printers, a sheetfed commercial and packaging printer, announced that the company has become an ESOP, effective Sept. 1, 2019. In the transaction, prior owners sold 100% of their ownership interest to a newly created Employee Stock Ownership Trust, giving employees ownership in the company without any personal investment.
Read MoreThese are competitive times for breweries, but even in a year of acquisitions and mergers, New Belgium's announcement yesterday that it plans to sell to Tokyo-based Kirin Holdings was huge news. New Belgium—brewer of Fat Tire, the Voodoo series of IPAs, and award-winning Belgian-style beers—is the fourth-largest craft brewery in America, and has been a pioneer in the industry since its founding in 1991. It's also employee-owned—offering an Employee Stock Ownership Plan, or ESOP—which makes it an interesting anomaly in terms of acquired breweries. (Other ESOP breweries include Odell, Modern Times, Harpoon, and soon, Rhinegeist.)
Read MoreWASHINGTON — Jim Chiavetta thinks Microplastics Inc. has a perfect business partner in IVP Plastics, MPI's new subsidiary.
Read MoreESOPs turn employees into owners.
Read MoreDixie 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. Management and personnel will remain the same and the Bradley family will continue to play a role on the board of directors.
Read MoreThe Michigan Democratic Caucus announced a bill (H.B. 5202) that would provide an income tax deduction equal to 50% of the gain from the sale or transfer of a business to one or more employees or from the conversion of a business to an employee-owned business. Joseph Tate (D-2nd District) introduced the bill on November 6.
Read MoreWith unemployment rates hitting historic lows and state GDP now eclipsing the UK's, California's economy seems strong.
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