Southern Indiana Business Report
JASPER – The National Center for Employee Ownership, a nonprofit research and membership organization supporting the employee ownership community since 1981, announced that Jasper Holdings Inc. was ranked the 33rd largest majority employee-owned company on its 2023 Employee Ownership 100 list.
The Employee Ownership 100 list includes the largest broad-based employee-owned companies in the United States that the NCEO could verify using governmental or other credible third-party sources.
Most are ESOP-owned, and one is a cooperative. To be on the list, companies must be at least 50% employee-owned; most are 100%. Collectively, these broad-based plans employ close to 685,000 people.
“It has been great to see Jasper Holdings Inc. move up the NCEO ranking to 33rd,” said Jasper Holdings Inc. President Zach Bawel. “The growth we have experienced since becoming 100% Associate-Owned has been life-changing for our Associate-Owners and their families. Our ESOP’s growth has been a game changer for our Associate-Owner’s financial freedom in retirement. We look forward to continuing to move up on this list as we find more great companies to become part of Jasper Holdings Inc.”
The NCEO is a 501(c)(3) nonprofit organization supporting the employee ownership community since 1981. The NCEO helps its thousands of members make intelligent decisions about employee ownership with everything from reliable information on technical issues to inspiration to help companies reach the full potential of employee ownership.
In addition, the NCEO generates original research, facilitates the exchange of best practices at its live and online events, features the best and most current writing by experts in its publications, and helps employee ownership companies build ownership cultures where employees think and act like owners. For more information, visit www.nceo.org.
According to a press release, since becoming 100% Associate-Owned in 2009, Jasper Holdings Inc. has grown from approximately 2,100 Associate-Owners to today having more than 4,600. Its companies have continued to grow organically while Jasper Holdings Inc. has made several acquisitions within the automotive and heavy-duty truck aftermarket.
“We are an active acquirer and look to take two paths, looking for companies within the aftermarket while diversifying through acquisitions outside as well. We look for highly respected companies with leadership teams that want to continue to run and grow their companies. Joining our ESOP is an excellent option for owners considering their own ESOP. We can make the ownership process much more accessible and financially more rewarding for Associate-Owners going forward,” reads the release.
More information about converting to an ESOP and Jasper Holdings, Inc. can be found at www.jasperholdingsinc.com.