Sundt Ranks No. 52 On America’s Largest Employee-Owned Companies List
TEMPE, Ariz. (September 9, 2019) – Sundt Construction, Inc. (www.sundt.com) ranks No. 52 on the National Center for Employee Ownership’s Top 100 largest majority-employee-owned companies list.
In 1972, Sundt established an Employee Stock Ownership Plan (ESOP), and today the company is 100 percent employee-owned. An ESOP company is different from traditional types of corporate ownership in that it is owned in whole or in part by its employees through its ESOP trust, and each employee-owner shares in the profits and success of the company. At Sundt, all employees are generally eligible for participation after 1,000 hours of credited service during the initial full 12 months of employment.
To earn a spot on the list companies must be at least 50 percent owned by an ESOP or other qualified plan or by one or more other kinds of plans in which at least 50 percent of full-time employees are eligible to participate.
Sundt Construction, Inc. (www.sundt.com) is one of the country’s largest and most respected general contractors. The 129-year-old firm specializes in building, transportation, industrial and concrete work and is owned entirely by its 2,000+ employees. Sundt is distinguished by its diverse capabilities and experience, unique employee-ownership culture and depth of self-perform expertise in nine major trades. Half of Sundt’s workforce is comprised of skilled craft professionals who, together with the company’s administrative employees, enable Sundt to fulfill its mission to be the most skilled builder in America. Sundt has 11 offices throughout Texas, Arizona, California and Utah and is currently ranked the country’s 54th largest construction company by ENR, the industry’s principal trade magazine.