California solar solutions provider, Sun Light & Power, becomes 100% employee owned
The company's founder, Gary Gerber, has taken the company to ESOP status as part of a strategic plan to maintain its culture and create a sustaining business.
20 Sep, 2018, 17:47 ET
BERKELEY, Calif., Sept. 20, 2018 /PRNewswire/ -- After more than 40 years in business, Sun Light & Power, California's premiere solar solutions provider, announced the implementation of an Employee Stock Ownership Plan (ESOP) giving 100% ownership to the company's 80+ employees.
The transition supports the company's belief in its greatest differentiating assets, its people. Gary Gerber, the company's founder and President, said, "For 42 years, I have proudly owned the company. Now, it's time to transition ownership to the people who can contribute the most to its success, our employees. Our customers will also benefit greatly from this move because employee-owners are more committed than ever to their success."
Being 100% employee owned creates many benefits including attracting top talent, growing employee engagement and creating a long term perspective. Giving workers a voice in a company's governance will create a stronger, mindful company.
The benefits for customers are great, too. A company whose employees have a vested stake in the company's success understands the importance of delivering value to customers. Employee owners share in the wealth they help generate, and their effort to provide exceptional customer experiences impacts the company's bottom line.
"Employee Owned companies have a positive impact on employees, customers and their communities," said Sun Light & Power's COO, Troy Tyler. "We feel this move to be a democratically-governed company prepares us well for the future. The feedback from employee-owners and customers has been extremely positive."
About Sun Light & Power
For over 40 years, Sun Light & Power has delivered exceptional customer service by designing and building high quality solar thermal and solar power systems across California. Sun Light & Power's team of employee-owners serve a wide range of commercial, nonprofit, municipal and residential clients. Sun Light & Power is one of the first companies in the state to become incorporated as a Benefit Corporation (known as a B Corp). Sun Light & Power became 100% employee owned (ESOP) in 2018. For more information, visit www.SunLightandPower.com.
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SOURCE Sun Light & Power
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