EMPLOYEE OWNED - ERMCO ESOP - YOURS, MINE, OURS
On June 30, 2014, ERMCO entered another exciting era in its history when the Gossett family sold a majority ownership to the newly established ERMCO ESOP. The development of the ESOP reinforced the company’s employees are family culture and provided a succession plan for the future. The ESOP is another feature of the company’s retirement benefits that include an optional 401(k) plan and employee match. As of March 29, 2019 ERMCO is officially 100% Employee Owned!
Employee ownership has not only provided a benefit to our employees and owners, but also to our customers. Employees now have an even larger stake in the success of ERMCO and that translates to a direct effect on the quality and productivity our customers receive. We have always held our employees to the highest standards, but the motivation of ownership raises even the high bar we had set for them.
Additionally, having a succession plan in place for our company means that our customers can count on ERMCO being there for them in the future. Many family owned companies end up being bought by other corporations as family members retire and we did not want to compromise the service we are known for. The ERMCO ESOP creates the longevity we were looking to provide our customers.
ERMCO is proud of our history of over 50 years of family ownership and excited what the future of employee ownership will bring us!