ESOP and Worker Owned Cooperatives Resources

Creating Employee Ownership through Selling Your Company to an ESOP

During this event, the panelists discussed how selling a company to an ESOP provides a retirement plan for employees which creates wealth equity while at the same time providing a succession planning tool for the selling owners.

WebinarAlex VandeHeiApril 1, 2021Succession Planning, Exit Strategy, ESOP

Employee Ownership Trusts Summary

Want to learn more about Employee Ownership Trusts (EOT)? Check out this summary to learn how an EOT is different than other employee ownership models, where EOTs came from, and what the advantages and disadvantages of EOTs are.

DocumentAlex VandeHeiMarch 23, 2021Succession Planning, Exit Strategy, Employee Ownership Trust

Long Haul Trucking, an employee owned success story!

Long Haul Trucking located in Albertville, MN shares how employee ownership works in a trucking company.

Success StoryAlex VandeHeiMarch 10, 2021ESOP, Succession Planning, Exit Strategy

As A Business Owner- What Will Be Your Legacy?

During this event, a panel of employee-owners and professionals shared their experiences of employee ownership in Minnesota as well as the logistics behind the operations of Employee Stock Ownership Plans (ESOPs) and Worker Cooperatives.

A Letter To Employee Owners of the AVEKA Group

I want to thank each of you for being an Employee Owner and I do hope that you catch the excitement of being a member of an ESOP company and can see how your contribution can benefit you and your fellow Employee Shareholders.

ArticleAlex VandeHeiMarch 8, 2021ESOP, Succession Planning, Exit Strategy

"If I Ran This Place, Things Would Be Very Different"

How many people have had the thought, “If I ran this place, things would be very different”?

The team at Brooklyn Stone and Tile (BKST) had that very thought and opportunity to purchase the company from the former owner back in 2018. Since then, each 11 co-owners are able to build financial equity in a workplace they call home.

Web Article, Success StoryAlex VandeHeiMarch 8, 2021Manufacturing, Succession Planning, ESOP

11 of the Forbes 100 Largest Private Companies Are Employee-Owned

We are all familiar with the notorious Forbes lists. However, Forbes just published an interesting list which outlines 11 of the 100 largest privately-owned companies are in fact, employee-owned. Do you recognize any of these companies? A few might just surprise you!

Web ArticleAlex VandeHeiMarch 8, 2021ESOP, Employee Ownership Trust, Employee Ownership

Equity & Ownership: The Case for Worker Cooperatives, ESOPs, and Profit-sharing Plans

There has never been a better time to redefine “how business is done.” Local businesses keep wealth anchored in their communities, and independent ownership matters.

WebinarAlex VandeHeiFebruary 25, 2021ESOP, Worker Cooperative, Profit Sharing

Opportunity Knocking

Fifty by Fifty, is a movement focused on scaling up employee ownership and converting 50 million employee-owners in the US by 2050. On December 14th, 2020, this collaboration released a report outlining the effects of COVID-19 on businesses around the US.

Web ArticleAlex VandeHeiFebruary 18, 2021Succession Planning, Employee Ownership, Impact Capital

Reell Manufacturing: A Successful Employee-Owned Niche Manufacturer With A Proven Plan

Founded in 1970, Reel Precision was simply a small manufacturer of hinges and electric clutches. Their primary goal was to manufacture top of the line products while cultivating a rewarding, productive workplace environment.

Web Article, Success Story, Media CoverageGuest UserFebruary 9, 2021Manufacturing, ESOP, Succession Planning

WCCO Radio Features MNCEO’s, Sue Crockett, on Employee Ownership

On November 2nd, Sue Crockett had the opportunity to represent MNCEO and share her expertise on employee ownership with Cory Hepola and WCCO Radio 830’s audience.

Media CoverageGuest UserFebruary 9, 2021Succession Planning, Employee Ownership

Key Considerations from an Employee Ownership Lending Perspective

As you transition to the next stage of your career and consider the sale of the company you have worked so hard to build, one good option is an Employee Owned organization.

ArticleGuest UserJanuary 14, 2021Exit Strategy, ESOP, Succession Planning, Employee Ownership, Finance

Anderson Windows

In a December article, Start Tribune applauds Minnesota’s two major window manufacturers for rolling out nearly $50 million in profit-sharing for their employees. Andersen Corp., based in Bayport, will soon issue $33 million in profit-sharing to employees and donate $4 million to community causes, officials said this week.

Web Article, Success Story, Media CoverageGuest UserJanuary 14, 2021Profit Sharing, ESOP, Succession Planning

Education Driven – Long Haul Trucking

As an employee owned company, part of Long Haul’s mission is to ensure that not only is there focus on organic, healthy growth for the company, but for all individuals that one day hope to be members of their industry.

Article, Success StoryGuest UserJanuary 14, 2021ESOP

Chat with Roger Ryberg, selling owner of Windings, Inc. - New Ulm, MN

in 1983, after spending 18 years at 3M Company putting my degree as an industrial engineer from Iowa State University to use, with the help of a financial partner and a generous bank, I bought Windings, Inc.

ArticleAlex VandeHeiJanuary 1, 2021Succession Planning, ESOP

ESOP Contributions and PPP Loan Forgiveness

Many of you may have received Paycheck Protection Program (PPP) Loans. Once the loan has been received the next step is spending the proceeds on eligible expenses in the proper timeframe to achieve forgiveness of the loan.

ArticleAlex VandeHeiDecember 29, 2020Legislation, Taxation, ESOP, Finance

Employee Ownership Trusts: An ESOP Alternative

During this event, the panelists discussed how selling to an employee ownership trust (EOT) should be considered as an alternative to an ESOP where the cost of an ESOP is a major consideration, as well as where perpetuity of the employee ownership structure is a major goal.

WebinarAlex VandeHeiSeptember 21, 2020Employee Ownership Trust, Succession Planning, Exit Strategy, ESOP

Optimax – an EOT (employee ownership trust) Story

Optimax is a manufacturer of precision optics for research and industry. Optimax makes optics for NASA space programs that include the Mars Rovers, Pluto New Horizons, the Transiting Exoplanet Survey Satellite (TESS), and many more.

Success StoryAlex VandeHeiSeptember 10, 2020Employee Ownership Trust, Succession Planning, Manufacturing

How is Windings Inc. dealing with COVID and how has the ESOP helped them weather these times?

Our company dealt with COVID by increasing our communication with our employees. We quickly formed a pandemic response team and regularly provided updates on processes and procedures.

ArticleAlex VandeHeiAugust 20, 2020ESOP, Succession Planning

Happy Earth Cleaning Becomes the First Employee-Owned Cleaning Company in Minneapolis

Environmentally-safe cleaning company Happy Earth Cleaning LLC has become the first Employee-Owned cleaning company in Minneapolis, after Founder Marion Dunbar realized she was in need of a succession plan that reflected their “people-first” culture.

Success StoryAlex VandeHeiJune 16, 2020Worker Cooperative, Succession Planning