Lenexa, Kan. (January 24, 2014) — RC Sports, the world's leading supplier of roller skates, inline skates, hockey skates, and skating accessories, announced that Ron Creten, the sole shareholder, has transferred ownership of the company to its employees via an Employee Stock Ownership Plan, or ESOP. RC Sports’ management team will remain in place and there are no changes to the organizational structure related to this sale.
An ESOP is a qualified retirement plan that buys, holds and sells company stock for the benefit of the employees, providing them with an ownership stake in the company.
Ron Creten said the sale rewards employees for their role in the company’s success and will secure its long-term performance. “Our employees have been a huge part of RC Sports’ success and we’re pleased to recognize them in this way,” Creten said. “By including all of our employees in this ownership program, from our production staff to our management team, our customers and vendors can expect to see even higher levels of service and accountability at RC Sports.”
Ron Creten will continue to lead the company as its CEO and Chairman of the Board.
Surveys show that a significant majority of employee-owned companies showed increases in productivity, revenue, stock value and profitability, all of which benefit an ESOP’s employees, customers, and vendors.
ESOP Partners, an ESOP consulting and administration firm in Appleton, Wis., assisted with the sale and will continue to work with the company as an ESOP consultant and third party administrator.
About RC Sports
RC Sports is the world's leading supplier of roller skates, inline skates, hockey skates, and skating accessories. The company has been selling and servicing all major brands of skates and skating accessories to the roller skating industry since 1958.
There are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees (10 percent of the private sector workforce). Research suggests that ESOP companies grow faster than their non-ESOP counterparts, and that their employees have more sustainable employment, increased job satisfaction, and greater organizational commitment.
Chief Marketing Officer