How a Company Is Reaching New Frontiers Through the Power of Employee Ownership

Stephanie Carlin, ASA, has been advising Superior Contracting & Manufacturing Services, Co., for over 13 years. When it became evident that a sale to a third party was not likely, Stephanie suggested to Chris Harapat, President and CEO of Superior, the possibility of selling his company to an ESOP. He liked the idea, and with less than 20 employees, he and his wife sold 100% of the Company to an ESOP in 2015. Since then, Superior has acquired 4 smaller companies and has grown the employee base to more than 130. In 2021, Superior acquired a 236,896-square-foot industrial facility to bring the Superior family of companies under one roof in what looks like a mall of the trades. Not only has the employee base soared, but the Company's stock price has also gone from $1.03 per share in 2015 to $9.54 in 2021.
This presentation will be a panel discussion, led by Stephanie Carlin, which highlights how through selling his company to an ESOP, Chris Harapat no longer feels the sole burden of ensuring the success of Superior. Chris will share how he has been committed to teaching people to think and act like business owners so they too can enjoy the sweet taste of success that comes from working together as a team of employee-owners. The panel will also include Ron Stratman, founder of Accurate Electric. As another local small business owner, Ron felt his options were limited when he started thinking about his own transition. Ron will share what he considered before deciding to sell his company to Superior and how that decision has impacted him and his employees. NCEO Resource:
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