Warehouse1: 100% Employee Owned through an ESOP
“We have the smartest, most engaged and caring group of employees. It was the right time to share and give back to them what they had given to the organization.” Mary Lou Jacoby, Founder and CEO
On December 31, 2016, Warehouse1 became 100% employee owned through an employee stock ownership plan (ESOP). Founder and CEO Mary Lou Jacoby decided to move the company to an employee ownership model after considering several succession plans.
Want to learn more about Warehouse1’s employee ownership journey? Check out these publications.
- Kansas City Business Journal: Another Long-Standing KC Company Goes Employee Owned
- Thinking Bigger Business Media: Warehouse1 Is Now Employee Owned
- MHEDA Journal: The Benefits and Challenges of ESOPs
The Best Employees Are Employee Owners
“Warehouse1’s ESOP is a benefit provided to all employees to share ownership in our company. When we work together to promote growth at Warehouse1, we increase profit to the company and share in the value!” Mike Jasa, Purchasing Manager
Through the ESOP plan, Warehouse1 provides its employee owners with shares of company stock at no cost. When the company succeeds, employee owners see a tangible benefit. Because they share in the financial growth of the company, employee owners consistently go above and beyond.
“We are learning how to grow our company into the strongest, most profitable ESOP that we can. TeamESOP is looking to you, our fellow employee owners, for questions and ideas on how we can improve our profitability.” Kirk Nielsen, TeamESOP Chair
When Warehouse1 began its employee ownership journey, Mary Lou established an internal “Team ESOP” with members from across the company. The team attends conferences and meets with ESOP experts, passing their knowledge to fellow employee owners.
Calling All Employee Owned Businesses!
Warehouse1 provides pallet rack and warehouse equipment to other employee owned companies including Inland Truck Parts, Webco Manufacturing, RiteMade Paper Converters, Midway Ford Truck Center, Central Bag Company, and more. But we want to grow our ESOP community!
Do you have a fellow employee owned business? Let us know and we’ll send you a discount code to our Online Store!
To learn more about our employee ownership successes and struggles or to do business with Warehouse1 – an Employee Owned Company, contact our TeamESOP at TeamESOP@wh1.com.
Infographic by National Center for Employee Ownership (NCEO) from The Economic Power of Employee Ownership