Wick Buildings, Inc. [www.wickbuildings.com], a company that designs, manufactures, and builds post-frame buildings, has announced it has become a majority employee-owned company.
Wick’s ESOP (Employee Stock Ownership Plan) was established in 2013 and has purchased a majority ownership from members of the Wick family. An ESOP is an employee benefit plan, facilitated through a trust, which provides company stock to employees as part of their retirement benefits. The largest remaining family owner is John F. Wick, who founded Wick Buildings.
“This is a milestone for the Wick Buildings family and employee team that we have been working toward for several years now,” stated Allan Breidenbach, president of Wick Buildings. “The acquisition of a majority ownership guarantees Wick will continue the legacy of quality and superior service to our customers, which was established by our founder over 65 years ago.”
US Department of Labor data shows that employee-owned companies outperform non-employee ownership in employee growth and stability, and provide higher returns on retirement assets than non-ESOP companies.
In continuous operations since 1954 and with more than 75,000 buildings completed, Wick Buildings provides post-frame structures for residential storage, homes, municipal, commercial, light industrial, agricultural, dairy and equine markets.
By Frame Building News Staff