HL Stearns transitions to employee ownership through new ESOP

Portland, Oregon — 4/17/2025 — HL Stearns, the area’s leading provider of commercial and architectural lighting and controls solutions, announced today that it established an Employee Stock Ownership Plan (ESOP), effectively transitioning ownership of the company to its employees.

This strategic move ensures the long-term viability of the company while rewarding the employees who have contributed to its growth and success over many years. Under the new ESOP structure, 100 percent of the company’s stock has been transferred to a trust for the benefit of HL Stearns’ employees.

“Creating an ESOP was a natural next step for our company,” said Shawn Golden, president/CEO of HL Stearns. “We’ve always believed that our employees are the heart of what we do. This transition allows each of them to share directly in the value they help create every day.”

The ESOP provides employees with an ownership stake in the company at no cost to them. It also offers significant benefits, including enhanced retirement savings, increased employee engagement, and a strong foundation for continued growth and innovation.

Founded in 1958, HL Stearns has grown to more than 50 employees. It’s headquartered in Portland, Oregon, with a satellite office in Springfield, and serves customers across Oregon & SW Washington. The move to an ESOP will help preserve the company’s legacy and maintain its independence while building an ownership-driven culture.

“We’re excited about what this means for our team and our customers,” said Brian Tanz, director of operations & finance. “Employee ownership deepens our commitment to excellence, accountability, and service.”

About HL Stearns:

HL Stearns is a manufacturer’s sales representative of commercial and architectural lighting and lighting controls – supporting the commercial construction industry in Oregon & SW Washington market for 67 years.

As seen in Daily Journal of Commerce