Fort Wayne, Ind. (January 19, 2016) – SES Environmental (www.sesadvantage.com), a full service environmental, health and safety compliance firm with six offices in the United States, announced today that it has transferred 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP).
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.
“The company has been privately owned since its founding 27 years ago,” said Dave Nystuen, President. “This transition to employee ownership goes beyond just providing a retirement plan. The core of our success has been the dedication and hard work of each and every employee, and their commitment to our clients. In recognition of these efforts, we are rewarding our employees with full beneficial ownership of the company.”
About SES Environmental
Founded in 1988, SES is a full service environmental, health and safety compliance firm that provides a diverse range of services across industrial, legal, financial, government, and real estate market sectors. The company has completed projects in 35 states and Puerto Rico, as well as projects in Canada, Mexico, Brazil, Hungary, and Austria. Headquartered in Fort Wayne, Indiana, SES has regional offices in Indianapolis, Indiana, Grand Rapids and Lansing, Michigan, Louisville, Kentucky, and Reno, Nevada.
Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company. There are many significant tax and cash flow benefits of selling to an ESOP. An ESOP also allows for a better-managed ownership transition, preservation of local jobs, and the maintenance of a company’s legacy in the community. According to the National Center for Employee Ownership (NCEO) there are approximately 7,000 ESOPs in place in the U.S., covering 13.5 million employees.