As part of The Menke Group’s fiftieth anniversary celebration, our CEO, Trevor Gilmore, is holding a series of virtual ‘fireside chats’ with our clients to discuss their ESOP journeys.
Brent Johnson, CEO of Ringland-Johnson, shared his insights recently. Ringland-Johnson is one of the top industrial and commercial construction firms in the Midwest with a history that dates back over 75 years. The company was founded in 1946 in Des Moines, Iowa and became employee owned in 2019.
Could you comment on Menke’s role in the employee ownership journey for Ringland-Johnson?
Menke played a crucial role in guiding us through the transition to employee ownership. Their expertise in ESOP structuring and implementation ensured a smooth and efficient process. They provided us with invaluable advice and support, helping us understand the benefits and navigate the complexities of establishing our ESOP. Their hands-on approach and dedication to our success made them an indispensable partner in our employee ownership journey.
Three Generations of Leadership — Carroll Johnson, then Larry Johnson, and now Brent Johnson continue the family tradition.
What benefits has your ESOP delivered for your company?
Our ESOP has significantly enhanced the company’s stability and performance. By aligning the interests of the employees with the long-term goals of the company, we’ve seen increased productivity, profit, innovation, and a stronger commitment to quality. The shared ownership model has also improved our ability to attract and retain top talent, as employees are motivated by the opportunity to directly benefit from the company’s success.
What is the perspective from your employee owners on the ESOP journey?
For our employee owners, the ESOP has provided a sense of pride and ownership in their work. It has created a more inclusive and collaborative workplace culture, where everyone feels invested in the company’s achievements. Financially, the ESOP has offered a valuable retirement benefit, contributing to the long-term financial security of our employees.
Has your community benefitted from the Ringland-Johnson ESOP?
The benefits of our ESOP extend beyond our company to the wider community. As a locally owned business, the economic success and stability we achieve through our ESOP translate into increased local investment and job creation. Additionally, our employees, as stakeholders in the community, are more engaged in local initiatives and philanthropy, further strengthening community ties.
What is Ringland-Johnson looking forward to as you continue your ESOP journey?
From the company’s perspective, we look forward to continued growth and innovation driven by our empowered and motivated workforce. We aim to leverage the collective knowledge and creativity of our employee owners to explore new opportunities, enhance our competitive edge, and achieve sustainable success.
How about your employee owners? What are they looking forward to as you continue your ESOP journey?
As employee owners, we are excited about the potential for personal and professional development. We anticipate increased opportunities for skill-building, career advancement, and financial growth. The sense of ownership and shared purpose will continue to foster a supportive and dynamic work environment.
Finally, can you share your thoughts on how the Ringland-Johnson ESOP journey will evolve with your community?
From a community perspective, we look forward to deepening our engagement and contributions. We plan to strengthen our partnerships with local organizations, support community projects, and promote economic development. By thriving as an employee-owned company, we aim to set an example for other businesses and encourage broader adoption of the ESOP model, thereby creating a more resilient and inclusive local economy.
Phil DeDominicis is an ESOP strategist and M&A advisor who has guided 300+ companies through ESOP formations, financing, and transactions over 20+ years at Menke & Associates. He specializes in selling ESOP‑owned businesses to financial or strategic buyers and in helping ESOP companies acquire other businesses.
