Owner Revolution Inc., which owns four different plastics-related companies, recently completed its goal of becoming 100 percent employee-owned.
Employees have purchased the final 10 percent of the firm that had been owned by founder Chris Schafer. The company's Employee Stock Ownership Plan started in 1999, according to Heather Link, human resources manager. This concludes an exit strategy by Schafer that ensured that the Iowa company would be employee-controlled, she said.
Adair-based Owner Revolution owns Schafer Systems Inc., Schafer Solutions Inc., Connect-A-Dock Inc. and the Plastics Professionals Inc. The two Schafer companies operate from a 90,000-square-foot plant in Adair.
Schafer Systems makes point-of-purchase products for 42 state lotteries, as well as for 47 countries and 10 territories. Schafer Solutions develops and makes POP products and serves original equipment manufacturers, as well as companies supplying food and beverage industries.
Connect-A-Dock, which sells floating modular dock systems, is housed with Plastics Professionals in a 220,000-square-foot facility in Atlantic, Iowa. The Plastics Professionals are rotational molders and mold builders.
Overall, the four subsidies employ about 120.
There is no better way for a company to be successful than providing its employees with a stake in what they do each and every day. A culture of employee ownership provides our employee-owners with a culture of collaboration that drives innovation, President and CEO Don Hudak said in a news release.