July 11th, 2019
Davey Tree, one of the largest tree service companies in the U.S., became employee-owned 40 years ago. Since then, its employee count has grown from 2,800 to nearly 10,000, and its stock from 12 cents to $21, a compound annual growth rate close to 14%.
Davey Tree has been employee-owned since 1979 when it the company was bought out by the employees from the the owner, John Davey. According to the National Center for Employee Ownership (NCEO), the Davey is the 12th largest employee-owned company in the United States.
A brief video provides a glimpse into this history:
Employee Stock Ownership Plans or “ESOPs” are a viable tool for shareholders and companies to create smooth succession plans while enhancing employee productivity.
Menke & Associates, Inc. is the largest ESOP advisor in the country having created over 3,500 ESOPs in all 50 states, including Colorado, in our 45 year history. According to industry statistics, one of every four new ESOP is created by Menke & Associates.