BOWA Expands Employee Ownership, Adopts Benefit Corporation Status
BOWA, the award-winning luxury remodeling and designbuild firm serving the Washington, DC metro region for more than 35 years, today announced the expansion of employee ownership through the creation of an Employee Stock Ownership Plan (ESOP) and the formal adoption of Benefit Corporation status under Virginia law — a relatively uncommon move in the residential remodeling sector.
The move reflects BOWA’s long-held belief in sharing success with the people who build it, formalizes its culture of ownership, and aligns its governance structure with a broader commitment to employees, clients, partners, community, and the environment.
“From the beginning, BOWA was built by people who think and act like owners,” said Larry Weinberg, Co-Founder and CEO. “Establishing employee ownership simply aligns the structure of the company with the way we already operate. If our only goal were financial return, there were other paths available. We chose this one because it protects our independence and reinforces our responsibility to our clients, our partners, and our community.”
Weinberg will continue to serve as CEO, alongside President David Brandt and the existing leadership team.
The employee ownership structure includes the creation of an Employee Stock Ownership Plan (ESOP) alongside direct employee share ownership. The structure broadens the company’s capital base, strengthens financial stability, and positions BOWA for continued independent growth while ensuring that those responsible for delivering the firm’s work share directly in its long-term success. The transition does not change day-to-day operations, contracts, or client relationships.
“In our industry, many firms ultimately pursue a sale or outside investment,” said Brandt. “We chose a structure that keeps ownership internal and aligned with the people accountable for our work. It supports disciplined growth while preserving the culture that has defined BOWA for more than three decades.”
As a Benefit Corporation, BOWA has amended its corporate charter to legally formalize its responsibility to employees, clients, partners, community, and the environment alongside financial performance, aligning its governance structure with its employee ownership model. The ESOP and Benefit Corporation designation are complementary and reinforce the belief that enduring businesses create value for multiple stakeholders.
“We believe business can be both profitable and principled,” Weinberg said. “Becoming a Benefit Corporation affirms that our success is measured not only in financial performance, but in the impact we have on the people and communities we serve.”
Founded in 1988, BOWA is recognized as one of the Washington region’s premier design-build remodeling firms, specializing in high-end residential renovations.
About BOWA
Founded in 1988 and headquartered in McLean, VA, BOWA is an employee-owned luxury design-build remodeling firm serving the Greater Washington, DC region and Virginia’s Horse Country. The firm specializes in high-end residential renovations ranging from single-room projects to whole-home and condominium remodels. BOWA is known for its structured designbuild process and award-winning craftsmanship. Returning clients and referrals account for more than 80% of the firm’s projects annually. Learn more at bowa.com.