PFlow Industries Inc, (PFlow) an industry-leading material handling solutions manufacturer achieved a significant milestone by completing a stock transaction to become 100% employee-owned through its employee stock ownership plan (ESOP).
“This transaction not only honors our founder, Bob Pfleger’s legacy by continuing our commitment to pride in ownership, it also encourages a performance model that is primed for continued sustainable growth while providing the opportunity to spread our wealth among our employee-owners,” said Pat Koppa, PFlow President.
The transition to 100% employee ownership by the 44-year old company reflects the company leaders’ confidence in the employee-owner team’s commitment to the success of PFlow and of one another. As a 100% ESOP company, PFlow employee-owners work and win together and success is shared through employee-appreciation programs and gatherings, family-friendly benefits, career development and advancement opportunities, generous retirement savings assistance, and annual bonus and profit-sharing programs.
“At a time when employee recruitment and retention are challenging, we believe that employee-ownership is a competitive advantage that attracts top talent. Our ESOP provides each employee-owner with the opportunity to directly share in the success that they help create,” said Pat Koppa.
About Employee Stock Ownership Plans
An employee stock ownership plan (ESOP) is a qualified retirement benefit plan that gives employees a stake in the company through stock allocation. It provides a method for the company workforce to accumulate capital for retirement at no cost to the employee.
According to the National Center for Employee Ownership, there are approximately 6,700 ESOP companies in the U.S., and 14 million employees participating in employee ownership plans.
Established in 1977 by Bob Pfleger, PFlow is the founder of the vertical reciprocating conveyor (VRC) industry. PFlow Industries custom engineers and manufactures VRCs for diverse applications. VRCs are intended for the safe and effective vertical movement of materials between multiple levels in mezzanine, balcony, through-floor, interior and exterior applications and, can lift loads from a mere 10 pounds to over 200,000 pounds.
PFlow also designs and manufactures Cartveyor® shopping cart conveyors, which run parallel to escalators and accommodate high shopping cart traffic in multi-level retail environments.
For more information, visit www.pflow.com.https://www.pflow.com/