Technical Assurance, Inc. has announced that its employees are now the owners of the Ohio-based building envelope engineering and consulting firm through an Employee Stock Ownership Plan (ESOP). The transition to employee ownership from the Founder and Visionary, Ed Taylor, reflects the company leadership’s confidence in the team while further enhancing the employee-centric culture and sustainability as an independent company.
“This is the single most important announcement I’ve made to our team since founding the company 29 years ago,” stated Ed Taylor. “This transition to a 100% employee-owned company feels like a natural progression for Technical Assurance. It reinforces our culture, protects our ability to serve our clients in the best possible way, and supports the sustainability of our company.”
President, Jim Solether, followed with: “Our employees take great pride in their work and solving issues for our clients, and Technical Assurance’s success is attributed to the dedication and innovation they bring each day. The ESOP demonstrates our commitment to them, further allowing them to take part in our company’s future success.”
The ESOP allows the leadership team to remain in place, and the day-to-day operations of the organization will not change. President, Jim Solether, and Vice President, Kurtis Taylor, will continue to serve as Officers of the company. The ESOP transition allows leadership to continue to run the business with the same core values and client focus without any disruption to operations that often occurs when control changes in private businesses.
The ESOP plan has multiple objectives: to provide ownership of the company to those who work so diligently to make us successful, to provide a significant retirement benefit to our team in addition to our 401(k) plan, and lastly to provide a tool to motivate, retain and attract top talent.
We are enthusiastic about this new transition and era for our company. With this implementation, Technical Assurance plans to continue and increase its success and growth.