M&A in the E-0 space

badger_bannerIn the Jan. 2 roundup of employee-ownership news I had pointed out an article at the Lacrosse Tribune about Badger Corrugating becoming 40 percent employee owned, Badger Corrugating hands over 40 percent ownership to workers.  On Jan. 3 another article about Badger appeared in the Lacrosse Post Crescent, Badger Corrugating sets up ESOP for workers.

Also on Jan. 3, an article appeared out of Alaska in the Herald Online about an Alaska Rubber Group acquisition.

alaska rubberAlaska Rubber Group Completes Washington Acquisition

The Alaska Rubber Group has acquired five additional locations, effectively doubling the size of its employee owned organization.

The Alaska Rubber Group, consisting of three locations within Alaska, Anchorage, Fairbanks, & Wasilla, has purchased five additional locations in Washington. The five additional locations were formerly referred to as the Pacific Rubber Group, and they consist of stores throughout Washington serving the entire Pacific Northwest region.

Each location within the group will retain its original name. However, each will be branded as an Employee Owned Alaska Rubber Group Company. Alaska Rubber Group COO Mike Mortensen explained; “We definitely want to keep the local culture at each location intact. There’s a strong commitment within each store to customer service, and over the years each store has developed a loyal customer base.

 Also on Jan 3, there was news that two …

GTLTexas landscape companies merge.

Effective January 1, 2014, Greater Texas Landscape Services (GTL) and Hadden Landscaping have merged. GTL is is a part of Tucson-based The Groundskeeper, the largest 100% employee owned landscape firm in the US. The combined entity will continue to operate under the two individual corporate names, but will share resources to ensure the same quality full service landscape care for which both firms have become known. Hadden’s locations in Plano and Fort Worth will complement GTL’s office in Lewisville. By combining forces, both firms and their common client base will enjoy a broader geographic service area in order to promptly serve customer needs quickly. The merger will allow enhanced shared benefits for employees as both employee groups will be a part of an ESOP (Employee Stock Ownership Plan).

Then, on Jan 4, there was the article:

dexterGreen Fields: Fairfield company buys Dalton Ag Products

Dexter Apache Holdings, an employee-owned manufacturing company in Fairfield, says it has purchased Cox Manufacturing Co., the maker of fertilizer application equipment in Lenox, a community in southern Iowa.

Rob Cox, Dalton’s owner and president, will continue to lead the Lenox operation, Albregts said.

Dalton’s 75 workers will become Dexter Apache employee-owners.

“This sale will be a major boost to Dalton’s future growth, and it’s a real win for rural Iowa and Lenox, which we are proud and grateful to call our home,” Cox said.

Finally, today, Jan. 5, there is an article out of New Hampshire  announcing the accomplishments of an employee-owned firm there in the Granite State.

Wright-Pierce-logoBanner Year for Wright-Pierce 

PORTSMOUTH — For Wright-Pierce, an employee-owned, engineering company specializing in water, wastewater and municipal infrastructure services throughout the Northeast, 2013 was a banner year.

Since January, Wright-Pierce has hired 30 new employees, increasing its staff to nearly 200 people, adding depth and breadth to both technical and management teams. Wright-Pierce also expanded in 2013, opening a second New Hampshire office in Manchester to better serve a growing client base in Southern New Hampshire and Massachusetts.

Cheers to everybody mentioned here, with a heartfelt expression of support from EquitablePrinciples.
May all employee-owned businesses have a banner year in 2014!


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