Brookfield electrical contracting firm Lemberg is celebrating 30 years as an employee-owned company. The Lemberg family began selling the company to its employees through an Employee Stock Ownership Plan in 1992. By 1998, the ESOP trust had become the 100% shareholder, making the company completely employee owned.
The Lemberg ESOP is designed as a retirement plan where employees invest primarily in the company’s stock. Qualified employees become more vested in the company over time and receive “beneficial ownership,” which enables them to share in the company’s success, at no cost.
“We are proud to be employee owned because it instills a unique sense of pride in the company and gives everyone a personal stake in the success of the organization,” said Joey Hawig, chief financial officer at Lemberg, in a news release. “This dedication defines the culture of our company, drives our daily interactions with clients and partners, and shapes the experience of our customers. It has been a model for our success over the past 30 years and we are excited to mark this milestone in our history.”
October is Employee Ownership Month and Lemberg will celebrate the 30 years of its own ESOP with a slate of activities, including a kickoff breakfast, a food pantry collection challenge against a neighboring business, games with proceeds going to Hunger Task Force, weekly trivia, an Oktoberfest popcorn/beer tasting, and a celebration harvest party.