Brookfield, Wis. (April 18, 2016) – As of April 15, BAYCOM Inc., TourGuide Solutions and BAYCOM Cellular Inc. have joined OwnersEdge Inc., an ESOP holding company based in Brookfield, Wis. Steve Elias, Owner and President since 2007, will continue to lead all three companies.
“I see this move as a catalyst for growth that will reinforce our commitment to our customers in the markets we serve,” says Elias. “Most importantly, the ESOP structure will reward employees for their dedication and hard work and support our ‘customer first’ culture.”
OwnersEdge Inc. is a 100% employee owned ESOP holding company. An Employee Stock Ownership Plan (ESOP) is an ownership model in which company employees have partial or full ownership of the value of the company, collectively. The benefits of ownership are typically considered part of a wealth development and/or retirement benefit strategy for employees. Each year, the value of the stock is established and reflected in employees’ accounts.
With the addition of BAYCOM Inc., TourGuide Solutions and BAYCOM Cellular Inc., OwnersEdge Inc. now has five affiliate companies and a total of 320 employees.
“We were immediately impressed with the business culture Steve had cultivated. His leadership style, quest for growth and excitement for the ESOP ownership model convinced us that he and his three companies would be valuable assets to our portfolio,” says Lisa Reardon, President, CEO and Chairman of OwnersEdge Inc.
Based in Green Bay with locations in metro Milwaukee and Neenah, BAYCOM Inc. is a leading provider of mission-critical wireless voice, mobile data and video solutions to public safety and commercial clients throughout Wisconsin and the Midwest. The company, which is celebrating its 60th anniversary this year, serves the public safety, manufacturing, education, transportation, construction and utility industries.
TourGuide Solutions was founded in 1998 and provides wireless tour guide and conferencing equipment to manufacturing companies, museums and attractions throughout North America. TourGuide Solutions has been an instrumental component in providing many Fortune 500 manufacturing companies with audio equipment to help usher guests through live, interactive plant tours. Its clients include Toyota, Nestle, Coca-Cola, Kellogg’s, Whirlpool, John Deere and P&G.
BAYCOM Cellular Inc. offers the latest in cell phones, smartphones and tablets and has two retail locations in Green Bay.
OwnersEdge Inc. will execute a 12-month integration plan with the three companies. As part of that, an advisory board will be established and each business will implement the OwnersEdge Inc. strategic planning process.
Elias and Reardon met in 2014 at a business function when Reardon was on a panel to discuss the advantages of an ESOP as a form of succession planning. Although they spoke only briefly afterwards, Elias was intrigued with the ESOP structure and its benefits for workplace culture and employee engagement. In 2015 when he received an unsolicited purchase offer from another company, he contacted Reardon and the two began a dialogue, which lead to the acquisition by OwnersEdge Inc.
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Based in Brookfield, Wis., OwnersEdge Inc. is a 100% ESOP owned holding company that strives to invest in and build sustainable businesses throughout the Midwest. The affiliated companies within the OwnersEdge portfolio utilize their industry expertise to drive business growth and create value for stakeholders including customers, communities and the ESOP employee owners. The five companies in its portfolio – CC&N, NEXT Electric, BAYCOM Inc., TourGuide Solutions and BAYCOM Cellular Inc. – provide diverse products and services to a variety of market segments ranging from public safety to construction to manufacturing and attractions. For more information, visit ownersedgeinc.com.