BURLINGAME, Calif. - nvtip -- The Menke Group, the leading single-source Employee Stock Ownership Plan (ESOP) provider in the United States, announced that AEC Electric, a commercial electrical contractor covering all of Arizona, has become 100 percent employee-owned with the help of The Menke Group. The ESOP plan extends ownership of the company to their employees, effective July 31, 2024.

ESOPs are the most commonly-used forms of employee ownership in the United States, according to the National Center for Employee Ownership. Designed to encourage and reward increased employee productivity and efficiency, an ESOP offers multiple advantages to company owners, employees, and communities.

"Rob Lawton is a great entrepreneur and the team at AEC Electric have the right formula for a successful company owned by its employees," said Trevor Gilmore, CEO of The Menke Group. "Nurturing a collaborative culture where the employee-owners and the bottom line can thrive is vital, since an ESOP creates a direct link between employee productivity and employee benefits."

The Menke Group, which is celebrating fifty years of creating ESOPs, has been instrumental in helping American companies form more than 4,000 ESOPs all over the United States.

More on nvtip.com

• Valhallan Esports and XP League Unite to Expand Opportunity in Youth Esports
• Tokenized Real-World Assets: Iguabit Brings Institutional Investment Opportunities to Brazil
• MEX Finance meluncurkan platform keuangan berbasis riset yang berfokus pada data, logika, dan efisiensi pengambilan keputusan investasi
• From MelaMed Wellness to Calmly Rooted: A New Chapter in Functional Wellness
• New Angles US Group Founder Alexander Harrington Receives Top U.S. Corporate Training Honor and Leads Asia-Pacific Engagements in Taiwan

"Ownership is a cornerstone of the American Dream, and helping companies transfer ownership to its employees is our mission," continued Gilmore. "Selling all or part of a company to its employees makes great financial sense, leaves a lasting legacy in the community, and can make financial independence a reality for all employees, no matter the industry."

Companies can offer an attractive employee benefit to workers to help them fund their retirement plans, helping to attract and retain employees. Company owners or shareholders who wish to build a robust succession plan for their business in order to remain independent and continue to conduct "business as usual" can keep jobs in their communities by moving to an ESOP.

"I worked for an ESOP company when I was younger, made some money in it, and knew the power of the employee ownership model," said Rob Lawton, CEO of AEC Electric. "When I bought AEC Electric in 2021, I envisioned selling the company to the employees and sought out ESOP experts to help make that vision a reality. I found a true partner in The Menke Group and Trevor Gilmore."

ESOPs work particularly well in companies where human capital is a key component of success. An ESOP rewards and retains staff in a remarkably efficient manner, allowing for a well-executed succession strategy.

"With the employee ownership model, we can provide an excellent retirement benefit to our team of employee-owners and reassure our current and future customers that there is a strong business succession plan in place for the company and community," concluded Lawton. "I want to thank the Menke Group for their excellent advice and counsel in structuring and launching our ESOP."

More on nvtip.com

• UK Financial Ltd Board of Directors Establishes Official News Distribution Framework and Issues Governance Decision on Official Telegram Channels
• UK Financial Ltd Sets Official 30-Day Conversion Deadline for Three Exchange Listed Tokens Ahead of Regulated Upgrade
• New Jersey Therapy and Life Coaching Unveils Original Dan Fenelon Mural in Voorhees New Jersey Therapy Office
• Kentucky Judges Ignore Evidence, Prolong Father's Ordeal in Baseless Case
• Contracting Resources Group Receives 2025 HIRE Vets Platinum Medallion Award from the U.S. Department of Labor

About AEC Electric

AEC Electric is a commercial electrical contractor that covers all of Arizona. The company's team of experts have completed thousands of projects ranging from tenant improvements and multi-family buildings to complex hospital projects. Headquartered in Phoenix, Arizona, AEC Electric handles customer requests from conceptual budgeting to completed, fully warranted projects. Visit AEC Electric to learn more about the company and its latest projects.

About The Menke Group

The Menke Group is America's largest and oldest ESOP advisor, with more than 50 years of experience creating and administering ESOPs. Menke has helped more than 4,000 companies become employee owned and has designed and installed ESOPs all over the United States, serving companies with as few as ten employees and as many as 15,000 employees. The Menke Group was founded in 1974 by John Menke who co-authored the landmark federal ESOP legislation which subsequently spawned the industry. Visit The Menke Group at www.menke.com for more information and a timeline with the history of the company and ESOPs.