DUBUQUE, Iowa (PRWEB) December 17, 2020
Unison Solutions, Inc. has announced the successful transfer of 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP).
An ESOP — 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 — provided the ability to slowly transition leadership of the company over time, and reward the team who helped the company be successful. For Unison Solutions, Inc., the ESOP also means that the jobs will stay local to Dubuque, even as the company continues to grow.
ESOP Partners, an ESOP consulting and administration firm in Appleton, WI, assisted with the sale and will continue to work with the company as the ESOP consultant and third-party administrator. ESOP Partners changes lives by creating wealth and sustainable employment through employee ownership and works with business owners and companies to determine if an ESOP is a good fit for their situation. Connect on Linkedin: https://www.linkedin.com/company/esop-partners.
About Unison Solutions, Inc.
Unison Solutions was started in 2000 by Jan Scott and Dave Broihahn. The company currently has 56 employees and is located in Dubuque, IA, Industrial Center West. Unison Solutions, Inc. manufactures biogas conditioning equipment used to produce renewable energy and renewable natural gas (RNG). There are over 300 of Unison’s systems installed throughout the United States at landfills, wastewater treatment facilities, dairies, and food processing digester plants.
ESOPs are the only retirement plan allowed to borrow money to purchase stock and are generally funded only by the company. Selling part or all business to an ESOP enables a business owner to sell to a built-in buyer in as little as 90 days at full fair market value. 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 10,000 ESOPs in place in the U.S., covering 10.3 million employees. There are less than 2,500 ESOP companies that are 100% owned by their employees.