On January 1st, 2020, Loftness Specialized Equipment, an agricultural equipment manufacturer based in Hector, MN, became 100% employee-owned, and in doing so, reconfirmed its longstanding commitment to the town of Hector and the community who helped make the company what it is today. Dick Loftness started the company that would eventually become Loftness Specialized Equipment…
Pennsylvania’s Andesa Services, which provides integrated, cloud-based solutions for life insurance and annuity carriers and providers, started 2020 by selling 100% control of the company to its 165 employees through an ESOP. “This is one of the most exciting days of my life and I hope you share my excitement,” Andesa founder John Walker said…
January 3rd, 2020 Cross Company, a 100% employee-owned industrial solutions company based out of Greensboro, NC, announced its acquisition of Flow-Tech, a Maryland-based process instrumentation and measurement technology sales and service provider earlier this week. All of Flow-Tech’s employees will be eligible to join Cross’s team of nearly 700 associates in participating in the company’s…
January 17th, 2020 At the end of 2019, the Pennsylvania House of Representatives voted 130-67 to advance HB 285, a bill that would further incentivize business owners in PA to sell to ESOPs by enabling sellers to avoid hefty taxes on their proceeds at both the state and federal level. “ESOPs serve the dual purpose…
January 13th, 2020 Barrio Brewery, Arizona’s oldest craft brewery, started off 2020 by selling 100% control of the company to its employees through an ESOP. Any of the brewery’s 70 employees who work 1,000 hours or more in a one year period will be automatically enrolled in the plan. For Dennis and Tauna Arnold, who…
Founder and President John Menke to present at the 2020 Kelso Fellowship Workshop January 10-12th at Rutgers University New Brunswick, NJ. He will speak on the Universal Capital Accounts and Citizen Dividend Program. The purpose of the annual workshop is to study broad-based forms of capital ownership and capital income such as employee stock ownership,…
In December 2018, Menke & Associates helped Intervine, a Napa, CA-based wine management company serving the travel industry, with the successful transition to 100% employee ownership. A year later, on the first anniversary of their ESOP, co-founders Colleen May and Michael Borck, who continue to serve as Chairman and Vice Chairman of the Board respectively,…