Briana Pace | Southern Indiana Business Report
The Indianapolis Business Journal recognized Jasper Holdings, Inc. as the 17th largest private Indiana company based on revenue, plus the largest 100% Employee Stock Ownership Plan (ESOP) in Indiana.
These titles designated in the 2026 Corporate 100 report mark the company as one of the state’s most successful private businesses, highlighting continued growth, strength, and performance, while also recognizing the power of employee ownership, according to a Jasper Holdings, Inc. press release.
“Being ranked among Indiana’s largest private companies is a tremendous honor, but being the largest 100% ESOP in the state is what makes this recognition truly special,” Chairman of the Board of Jasper Holdings Doug Bawel said in the same press release. “Our success is the result of our Associate-Owners’ dedication to safety, quality, productivity, customer service and the reduction of waste.”
In 2010, Bawel announced Jasper Engines & Transmissions adopted an ESOP plan, establishing Jasper Holdings, Inc. and offering stock shares at $2.30 each. By the end of 2023, each share was worth $1,123 and since becoming an ESOP, the company has distributed $609 million in stock to Associate-Owners.
“We should all take great pride in this recognition,” Bawel said. “It demonstrates what can happen when Associate-Owners think like owners, work together as one team and stay focused on doing things the right way for our customers, our communities and each other.”