Pluss Corporation transitions to ESOP

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Updated Aug 14, 2017

Pluss Corporation, a leading producer and provider of resource management software for repair shops and dealers in the truck, heavy-equipment and emergency equipment market, is thrilled to announce that it is now an employee-owned company.

Through the purchase of shares previously held by the founding members of the company, 100 percent of Pluss Corporation is now held in an employee stock ownership plan.

Pluss Corporation says employee ownership became an obvious choice when the founder of the company decided he was ready to step out of his ownership role. By that time, Pluss Corporation had already long enjoyed a thriving company culture, and shared set of values. With its highly collaborative, creative, and beneficial work environment, alongside an innovative outlook on the technology the company produces, exceptional customer service, and an unwavering commitment to ethical business practices, the idea to pursue an ESOP (employee stock ownership plan) was a perfect fit, the company says.

“Few people are aware of this option but it creates a win-win situation for owners and employees. The outgoing owner gets a fair price for their business and the employees get to own a piece of the rock,” says Greg Iverson, CEO at Pluss Corporation.

However, beyond just giving the company’s seller a good price, Iverson asserts that one of the primary benefits of an employee driven acquisition is that it, “genuinely rewards employees for a lifetime of hard work.” He also says an acquisition by a company’s employees provides strong incentive for employees to stay on board, offering, “A rewarding financial experience for their committed efforts over the years to come.”

Because employee-owned companies generally enjoy a higher rate of talent retention and employee satisfaction, ESOPs typically provide a better experience for the customer, as well.

Iverson praises the employee acquisition of Pluss as a particular benefit for the company’s 500+ customers.

“For Pluss’s customers, it creates a unique situation where every employee is more committed to positive outcomes for our customers. Every employee is an owner and has ownership responsibilities to the customer. We expect this to result in ever improving product and service performance,” he says.

With several ambitious projects on the horizon, including an exciting partnership to be announced later this year, Pluss Corporation has its sights set on growth and ongoing success, the company says.

“We completed the ESOP at the end of April,” says Iverson. “But the real story is in the years to come as the employees become more involved than ever to produce better products and services.” This employee dedication, according to Iverson, will continue to bode well for the company, its employees, and their many happy customers.

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