Metro Walls, a wall and ceiling contractor in Manchester, became a 100% employee-owned company. The existing shareholders sold 100% of their shares to the employees through an Employee Stock Ownership Plan (ESOP) allowing the company to stay independent and remain focused on its purpose and values.
“We are thrilled to offer this new benefit to our employees,” said company president Bryan Hussey. “Becoming 100% employee-owned rewards our amazing team, keeps them invested and engaged, assists with attracting top talent and allows us to continue our growth and success well into the future. The transition to an ESOP fits our culture well, in which we want everyone to work together, succeed, and feel like part of a team. I think this is another reason people can be proud to work at Metro Walls.
The ESOP is a special retirement plan that buys and holds stock for the benefit of the employees. With this structure, employees will share in the success of the company as they earn shares over time while working at Metro Walls. Employee ownership also allows Metro Walls to sustain its culture.
There is also a change in leadership. Mike Dion, the former owner and president has stepped away from the day-to-day operations and moved into the role of chair of the board of directors while Hussey, former executive vice president, has been named the president. No other changes in management will take place.
Dion said, “I have the utmost confidence in Bryan and our talented team to continue to do an outstanding job serving our customers and expanding upon the company’s success.”
The ESOP announcement was made to Metro Walls employees at an all-company meeting on March 18th.