DATE RELEASED: 09/20/18

When the owners of Mountainland Supply in Orem, Utah, were ready to get liquidity for their ownership, they could have sold to an outsider.

But Brandon Johnson, Mountainland's CFO, says, "We were afraid of what it would do to the culture of our company. We figured about 1/3 of our employees would be dismissed."

Instead, the owners turned to an employee stock ownership plan or ESOP. The ESOP paid the owners a fair price and...

DATE RELEASED: 09/20/18

Walmart-backed Flipkart will offer its employees an opportunity to cash in on part of their stockholding in the company at $126-128 per share, according to an e-mail to staff.

The e-mail, which follows the $16-billion deal by Walmart to buy a majority holding in the Indian e-commerce major, said eligible staff members will be allowed to liquidate part of their employee stock ownership plans (ESOPs) at $126-128 per unit.

This would translate into a total sum of about $800 million...

DATE RELEASED: 09/19/18

Reliance Trust Co. Inc. has agreed to a $4.5 million deal to settle claims from the U.S. Department of Labor that it breached the Employee Retirement Income Security Act when it caused Tobacco Rag Processors Inc. workers to pay too much for shares of the company's stock in 2011.

U.S. District Judge James C. Dever III signed off on a consent judgment filed Tuesday by the DOL and Reliance Trust, part of which said the company will pay $4,545,454 to settle the claims, or cause its...

DATE RELEASED: 09/19/18

After more than 40 years in business, California's Sun Light & Power announced the implementation of an Employee Stock Ownership Plan (ESOP) giving 100% ownership to the company's 80+ employees.

The transition supports the company's belief in its greatest differentiating assets: its people.

"For 42 years, I have proudly owned the company. Now, it's time to transition ownership to the people who can contribute the most to its success...

DATE RELEASED: 09/18/18

Summit, NJ:  Pilot Hill Advisors LLC is pleased to announce the newly formed Employee Stock Ownership Plan (ESOP) of Wright Architectural Millwork Corp. recently acquired 100% of the company's shares.

Established in 1974, the company is a highly regarded cabinetry and woodworking contractor with a primary geographic focus on New England, Westchester County and Upstate New York. The company's shareholders, Mike Buell and Walt Price had considered...

DATE RELEASED: 09/13/18

In the past few years, Mark Barnes and wife, Perri, were excited to prepare for their retirement from the lawn care and snow removal business, Barnes Inc., that they founded in 1981. But there was one thing that worried them: What would happen to their 145 employees — 175 during winter months — after they stepped down?

"I didn't want the legacy to be that we walked off into the sunset with a bunch of money," says Mark, the company's CEO and president. "I realized the sale to a third...

DATE RELEASED: 08/23/18

DE SMET, S.D., Aug. 21, 2018 /PRNewswire/ -- Legend Seeds proudly announces its transition from a family-owned independent regional seed leader, to an employee-owned independent regional seed leader through an Employee Stock Ownership Plan (ESOP) as of August 1, 2018.

Founded in 1990 by Glen and Janet Davis, Legend Seeds has embarked on its 29th selling season in the seed industry serving dealers and growers across the U.S. and Canada. Since its...

DATE RELEASED: 08/16/18

BETHEL, Conn., Aug. 15, 2018 /PRNewswire/ -- BranchServ, a Division of Custom Vault Corporation, announced that revenues in the first half of 2018 were its strongest to date, topping several years of successive double-digit growth. Strong successes in its service business have complemented stellar security and automation...

DATE RELEASED: 08/15/18

Among other things, the Main Street Employee Ownership Act focuses on increasing the role of the Small Business Administration (SBA) in facilitating ESOPs by allowing the SBA to make loans to companies that they can then reloan to ESOPs.A bill that will make it easier for companies to establish an employee stock ownership plan (ESOP) was signed into law by President Donald Trump.

Among other things, the Main...

DATE RELEASED: 08/13/18

Sundt Construction, Inc. (www.sundt.com) ranks No. 68 on the National Center for Employee Ownership's Top 100 largest majority employee-owned company list.

In 1972, Sundt established an Employee Stock Ownership Plan (ESOP) and today, the company is 100 percent employee-owned. An ESOP company is different from traditional types of corporate ownership in that it is owned in whole or in part by its employees through its ESOP trust, and each employee-...

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