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Company Culture
ESL Power Systems, Inc. Becomes 100% Employee-Owned Through Employee Stock Ownership Plan (ESOP)
After 28 years of expansion and growth, ESL Power Systems opens its next chapter
CORONA, CALIFORNIA: ESL Power Systems, Inc. has completed a transaction to become 100% employee-owned through its Employee Stock Ownership Plan (ESOP). Since its inception in the early 1990’s, ESL Power Systems has emerged as an innovative leader in the design and manufacturing of safety-interlocked electrical solutions. The Company has been owned and managed by Michael Hellmers and David Hellmers, with Douglas Roy, Carlos Valero, Pete Mehalechko, John Chaney, Jaime Hatzfeld, Tom Zinchuk and Greg Leger rounding out the management team.
According to Michael Hellmers, President, “ESL employees have always been the cornerstone of our company’s success. Our team embodies ESL’s core values and share David’s and my commitment to our business and stakeholders. Employee ownership is the next logical step to ensure the legacy of our founders carries on. David and I will continue to lead the ESL team and are confident the new structure will foster an ownership culture focused on growth and customer satisfaction.”
ESL Power Systems was advised by AmbroseAdvisors, a national investment banking firm specialized in employee-ownership transitions. Michael Harden, Senior Managing Director, stated “Michael and David’s goal was to secure a sustainable future for the Company in a way that would be highly beneficial to the employees, customers, suppliers, and the community in addition to themselves. Employee ownership, done right, benefits all stakeholders and should be celebrated. We heartily congratulate the ESL team and thank them for trusting AmbroseAdvisors to manage this transition process.”
About:
ESL Power Systems, Inc. is a leading electrical equipment manufacturer for industrial and commercial applications for a variety of industries.
About: AmbroseAdvisors is a national middle-market investment bank and financial advisory firm focused on guiding and assisting business owners with ownership succession planning, primarily through employee ownership. http://www.AmbroseAdvisors.com
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For a formal press release click here.
ESL’s Donation Match Campaign!
ESL strongly believes in giving back to our community and supporting those in need. Additionally, we recognize encouraging employees to contribute to charities they feel are important helps build a better work environment and positive company moral; especially when your company provides support in the form of financial matching! With these values in mind, ESL decided to launch its first ever Donation Match Campaign encouraging its team to give back to the causes they believe in.
… especially when your company provides support in the form of financial matching!
ESL started the new venture by gathering suggestions on charities from our employees. The suggestions were then carefully evaluated and 15 nonprofits were selected for this year’s matching. All employees were encouraged to give anywhere from $25 to $1000 with the ESL promise to match each donation dollar-for-dollar. This year’s Charities included:
- ALSAC – St. Jude Children’s Research Hospital
- Americares
- American Foundation for Suicide Prevention
- American Red Cross
- Augies Quest to Cure ALS Inc.
- Cure Alzheimer’s Fund
- Direct Relief
- Dr. Susan love Foundation
- Feeding America
- Hope for the Warriors
- JDRF
- Khan Academy
- Make a wish America
- Our Companions Animal Rescue
- Ronald Mc Donald House
The campaign ran for two months and raised $8,180.00 in all! To engage the team and keep the giving going, weekly emails were sent out highlighting charities available for giving. To help keep the company informed on progress, employee contributions were tracked on a donation chart visible in the company lunch room. The participation was outstanding for our first attempt and feedback on the program was excellent.
We would love to hear how your company contributes! Send us a comment with the great things your work place does for its community.
Check out our other blogs on volunteering to see how our company and its awesome employees continue to contribute to worthy causes.