DE PERE, Wis. (October 19, 2023) – Robinson, Inc., a single-source metal solutions provider located in Northeast Wisconsin, announced it has become 100% employee-owned after introducing an Employee Stock Ownership Plan (ESOP).
The ESOP provides Robinson’s associates with ownership interest in the company. ESOPs are designed as a long-term retirement benefit for eligible employees, who accumulate company shares over time. As the value of Robinson increases, so too will employees’ stock value.
“We’ve had opportunities to sell the company over the years,” said Robinson CEO, Darrell La Crosse, “but selling to a private equity firm didn’t make sense. Our employees built this company and its success from the ground up, so it only made sense to leave the company in their hands.”
Upon retirement or when exiting the company, employees will receive the fair market value of the vested portion of their account. It is expected that employees who participate in both the company-funded ESOP and Robinson’s 401(k) retirement plan will notice significant financial gains for retirement.
The approximately 6,500 U.S. companies that have ESOPs are shown to have greater performance, stability, and employee outcomes than companies without ESOPs. In addition, employees who are provided a financial stake in companies through ESOPs produce products of higher quality, reduce waste, mitigate risks, and make better decisions, all of which improve the company’s bottom line. Nationwide, manufacturers represent 20% of all ESOPs.
About Robinson, Inc.
Robinson, Inc., is a single-source metal solutions provider based in De Pere, Wisconsin. Robinson offers design, manufacturing, and production fabrication for a wide range of industries. The company employs nearly 600 people at three Wisconsin locations comprising 525,000 square feet of manufacturing space.