September 8 2016 — Richmond, VA — InSource Solutions, a North American leader in simplifying success for manufacturing and industrial environments, is proud to announce that its Employee Stock Ownership Plan (ESOP) has purchased the balance of InSource Solutions company shares to become 100% employee owned.
InSource Solutions has been a partial ESOP since 2003 and on a very purposeful path toward full employee ownership. “Employee ownership is a core value at InSource, so, this transaction was the next logical step forward to preserve that culture and ensure our vision stays true. I am absolutely delighted that we have been able to make it a reality in 2016.” Said InSource Solutions President and co-founder, Ann Croom. “As a company we build our legacy and reputation every day. Integrity, trustworthiness, transparency and fiscal responsibility are crucial. We work to leave behind something of which we are proud.”
“100% employee ownership is a defining moment for our company and for our growing staff of employee-owners,” said Dunn Dillard, EVP and CFO. “It is also a significant milestone in our growth strategy, which has led us to double in size over the past 13 years, while significantly expanding the work we’re doing with our clients to revitalize manufacturing in America. This transition positions us to continue that growth.”
With guidance from ESOP Services, Inc., a firm that specializes in ESOP transactions, the ESOP buyout was structured and the transaction to 100% ESOP ownership successfully completed.
“It was a real pleasure working with a company that shows such passion and dedication for their employees. We are proud to have played a role in helping InSource transition ownership to become a 100% ESOP owned company, joining thousands of similar companies throughout the U.S.,” said Ron Gilbert, President of ESOP Services, Inc.
About InSource Solutions
InSource Solutions (www.insource.solutions) is a North American based leader in simplifying success for industrial environments by optimizing process and technology while empowering people. Increasing customer productivity and profitably, InSource is revitalizing manufacturing with products and services that align industrial operations with business objectives. InSource sustains that success through consulting practices focused on organizational adoption.