ESOP Partners, an Employee Stock Ownership Plan (ESOP) consulting and administration firm, has announced the successful completion of the sale of Bergen Plumbing, Heating & Cooling to its employees via an ESOP. An ESOP is a qualified retirement plan that buys, holds, and sells company stock for the benefit of the employees, providing them with an ownership stake in the company. Bergen Plumbing, Heating & Cooling has transferred 100% ownership of the company to its employees via an employee stock ownership plan.
ESOP Partners founder and president, Aaron Juckett, was recently interviewed by Insight Publications on a topic themed 'Pride in Ownership."
"More business owners are taking a look at ESOPs, and their popularity is on the rise. The two main reasons for the increase are transferring ownership without losing the company’s culture and the realization that ESOPs are a powerful tool to attract and retain talent — something many companies are interested in."
ESOP Partners promotes education around ESOPs (employee ownership) and provides third-party administration services to businesses.
In honor of Employee Ownership Month we have BIG news to share! We are proud to say that we have joined the ranks of approximately 6,600 companies that are owned by an ESOP.
Our purpose is to change lives through employee ownership. As our President and Founder Aaron Juckett says, what better way to achieve this than by establishing an ESOP and ownership culture and showcasing it to the ESOP community.
Committing to the our new building and becoming an ESOP company are two ways that ESOP Partners is demonstrating a long-term commitment to the ESOP community. Earlier this year the company held a ribbon-cutting ceremony and open house to celebrate moving into a new corporate headquarters. The building includes the Employee Ownership Training Center, which is used to educate the community about employee ownership and how it changes lives by creating wealth and sustainable employment.
Pictured above, Sarah Trovato (Managing Director) leads the ceremonial cake cutting at our Open House event.
ESOP Partners will be attending the 2019 New England Fall ESOP Conference on October 10 -11, 2019 at the MGM Resort in Springfield, MA.
The New England Chapter provides educational services and resources to ESOP companies in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. It is home to some of the best known ESOP companies in the country, as well as a large number of exciting companies starting the ownership transition process.
This (sold out) conference includes four tracks: Core Concepts for Employee Owners, Technical Topics, Culture and Communications and Leadership and Employee Engagement.
Click here for more conference information, including registration details.
ESOP Partners LLC celebrated yet another milestone in its growth by moving into a new corporate headquarters this spring. To honor this special occasion, and demonstrate our commitment to promoting economic vitality and ESOP education in the Fox Cities and throughout northeast Wisconsin, the company will hold an open house event on Thursday, October 3, 2019 from 4 p.m. to 6:30 p.m. in the Employee Ownership Training Center (EOTC) of their facility in Appleton, Wisconsin. All community members are welcome, especially those who have an interest in learning more about Employee Ownership (ESOP) and how it could make a positive impact on the culture and growth objectives of their business.
The open house will include tours of the new facility, including the Employee Ownership Training Center, a slideshow, networking with local professionals and an overview of Employee Ownership and how it changes lives and impacts the community. Heavy hors d'oeuvres will be served and raffle prizes given.
RSVP today and come meet our team!
ESOP Partners will be attending the 2019 Multi-State ESOP Conference (PA/DE and NY/NJ Chapters), being held September 18-20 at the Kalahari Resort in Pocono Manor, PA.
The 24th Annual Multi-State ESOP Conference will officially be kicked off by Keynote Speaker Jim Bonham, President/CEO of The ESOP Association. It will include executive roundtables and concurrent breakout sessions, provides attendees with a valuable opportunity to share their ideas and network with other ESOP companies. Attendees will also have the chance to talk one-on-one with ESOP professionals about their technical and culture and communications ESOP questions and concerns.
ESOP Partners will be speaking at the Heart of America Chapter 20th Annual Fall ESOP Conference, being held September 4-5 at the Kansas City Marriott Country Club Plaza in Kansas City, MO.
The Heart of America Chapter 20th Annual Fall ESOP Conference, which will feature expert roundtable discussions and four tracks of concurrent breakout sessions, provides attendees with a valuable opportunity to share their ideas and network with other ESOP companies. Attendees will also have the chance to talk
one-on-one with ESOP professionals about their ESOP questions and concerns.
ESOP Partners will be sponsoring and speaking at NCEO's Fall ESOP Forum being held September 17-18 at the Hilton Salt Lake City Center in Salt Lake City, Utah.
Both experienced attendees and newcomers will leave the Fall ESOP Forum better informed and better prepared to evaluate and implement the next steps for their companies. With 48 sessions in 12 time-slots, attendees can get a well-rounded introduction to all aspects of ESOPs, or they can dig deep on specific issues, from governance to sustainability to communications. Because the Forum combines three popular NCEO seminars into a single event, it blends the choice and flexibility of a conference with the give-and-take dialog of a working seminar.
Jason Wellman, Senior Relationship Consultant, will be speaking in the afternoon of the Preconference in a session titled, “Building or Rebuilding your ESOP Communications Committee" on Monday, September 16, from 1:45 pm - 2:30 pm.
Jason helps ESOP companies by developing a comprehensive Ownership Culture through proactive educational resources for all participants to improve their understanding of ESOPs' unique benefits.
Also in attendance from ESOP Partners is Eric Strebe, Business Development Consultant.
Click here for more information about the conference, including registration details.
ESOP Partners will be sponsoring, speaking, and attending the ESOP Association's Midwest Conference held September 11-13, 2019 at the DoubleTree by Hilton in Minneapolis, MN.
ESOP Partners LLC celebrated yet another milestone in its growth by moving into a new corporate headquarters this spring. To honor this special occasion and demonstrate a commitment to promoting economic vitality in the Fox Cities and northeast Wisconsin, the company held a ribbon-cutting ceremony and a reception in the Employee Ownership Training Center (EOTC). In attendance was Appleton Mayor, Tim Hanna and ambassadors from the Fox Cities Chamber the Heart of the Valley Chamber.
“One of the most important things in any business is culture. When you combine ownership and having a stake in the business, you have a great package. I just love the way that ESOPs and ESOP Partners can marry that and address some of the biggest challenges that businesses are facing today,” Hanna said. Studies have shown that companies that combine employee ownership with a strong participatory culture grow faster than their counterparts.
Aaron Juckett, President and Founder of ESOP Partners discussed how ESOPs protect the legacy of companies in the local community that they are a part of and protect jobs. A recent study demonstrated that employee owned companies are 235% better at job retention than their non-ESOP counterparts.
ESOP Partners is using the EOTC to “provide a forum to share education about ESOPs with companies, business leaders and business owners…. So, companies can remain local for years to come, jobs can be retained, and we can change lives by creating wealth and sustainable employment through employee ownership,” Juckett said.
About ESOP Partners
ESOP Partners changes lives by creating wealth and sustainable employment through employee ownership and works with business owners and companies to determine if an ESOP is a good fit for their situation. ESOP Partners establishes, maintains, and sustains employee stock ownership plans (ESOPs) throughout the life cycle of the company to maximize the benefits of being an ESOP company and provide employees with an ownership stake in the company that they work for.
ESOP stands for Employee Stock Ownership Plan. An ESOP is a qualified retirement plan that can be used as a business transition tool and as an employee ownership vehicle. An ESOP buys, holds and sells company stock, providing employees with an ownership stake in the company as well as an additional form of compensation directly linked to the success of the company.
The portion of a company owned by an S Corporation ESOP is not subject to federal or state income taxation,
increasing cash flow and providing the company with a competitive advantage.
In almost all ESOPs the benefit is funded 100% by the company, providing an ownership stake at no cost to the employee.
The total number of ESOPs in the country is about 6,660, representing 14.3 million participants and total plan assets of $1.4 trillion dollars. Studies have demonstrated that ESOP companies outperform their non-ESOP counterparts. A recent study demonstrated that employee owned companies are 235% better at job retention than their non-ESOP counterparts.