Parkway Electric & Communications Transitions to 100% Employee Ownership

Employee Stock Ownership Plan marks a new chapter for the company after nearly 24 years of Huizenga Group ownership

GRAND RAPIDS, Mich., Oct. 2, 2026 /PRNewswire/ -- Employees of Parkway Electric & Communications gathered on September 15 at the Pinnacle Center for the company's annual meeting. This year's announcements included a blockbuster surprise: there were new owners of the company and they (the employees) were the proud new owners.

Parkway announced that it has transitioned to 100% employee ownership through an Employee Stock Ownership Plan (ESOP), giving eligible employees the opportunity to build an ownership interest in the company and benefit financially from its future success.

Ryan Pate, an Electrical Site Superintendent, who has been with Parkway for 28 years, described what the announcement meant personally: "I've spent 28 years helping build Parkway, and I've always been proud to work here. Hearing that we are becoming owners was something special. It recognizes what our people have contributed to this company and gives all of us an even greater stake in what we build together going forward."

Huizenga Group acquired Parkway in December 2002 and has owned and stewarded the company for nearly 24 years. During that time, Parkway has continued to grow its capabilities and reputation as a provider of comprehensive electrical, communications, controls and audio visual services.

As Huizenga Group considered the company's long-term future, it evaluated a number of alternatives, including a potential sale to an outside buyer. Ultimately, it concluded that transitioning ownership to Parkway's employees offered the best opportunity to recognize the people who created the company's value while preserving Parkway's independence, culture and long-standing customer relationships.

"We've been grateful for the success we have achieved at Parkway for nearly 24 years," said J.C. Huizenga, Chairman of Huizenga Group. "As we thought about the future, we had a number of options, including selling the company to an outside buyer. But Parkway has always been about its people. They are the ones who built the company, serve our customers and created the value that exists today. We concluded that the best way to honor that legacy was to transition ownership to the employees themselves. It allows Parkway to remain independent, protects the culture that has made it successful and gives employees the opportunity to share in the value they help create. We think that's good for the employees, good for our customers and good for Parkway's long-term future."

For Doug Mitchell, President of Parkway Electric & Communications, the transition creates an opportunity to build on Parkway's history while strengthening the connection between its employees, customers and future success.

"Our customers have trusted Parkway because of the quality of our work and the people who stand behind it," Mitchell said. "That doesn't change. They will continue to work with the same team and receive the same commitment to quality, service and problem-solving they expect from Parkway. What employee ownership does is give our people an even greater stake in delivering on those commitments and in building Parkway for the long term. I'm excited about what that can mean for our employees, our customers and the future of the company."

The ESOP provides eligible employees with a financial interest in Parkway's future while allowing the company to remain independent. The transition does not change Parkway's day-to-day operations, leadership or commitment to its customers.

The move to employee ownership represents both the culmination of nearly 24 years of Huizenga Group stewardship and the beginning of a new chapter for Parkway — one in which the people responsible for the company's continued success will also have the opportunity to share in the value they create.

About Parkway Electric & Communications

Parkway Electric & Communications provides comprehensive electrical, communications, controls and audio visual services, from design and build through repair and maintenance. The company serves customers with a broad range of capabilities and a commitment to quality, service and long-term relationships.

About Huizenga Group

Huizenga Group is a privately held West Michigan investment firm with roots dating to 1985. The firm invests in and provides management services to a diverse group of businesses spanning automation, tool and die, electrical contracting, machined components and other industrial sectors. Huizenga Group focuses on middle-market commercial and industrial businesses and has a long-standing commitment to building enduring economic growth and creating value for its companies, employees, shareholders and the West Michigan region.

SOURCE Huizenga Group