ESOP Awareness Month

For almost 20 years, The ESOP Association and its member companies have been celebrating Employee Ownership Month every October. It is a celebration of the incredible spirit of employee ownership and an opportunity to educate employee owners about the tremendous benefits of employee stock ownership plans (ESOPs)

What exactly does it mean to be an ESOP?

  • ESOP = Employee Stock Ownership Plan
  • Tax qualified employee benefit plan governed by the same federal regulations (ERISA) as any other qualifying retirement plan (Ex. 401(k), IRA)
  • The ESOP only acquires shares of the company’s stock
  • These retirement accounts grow through the employee’s sweat equity (at no extra cost to employees)

What is the purpose of an ESOP?

  • Retirement benefit for employees
  • Participants share in the rewards & responsibilities of ownership
  • Tax savings for the company

During ESOP awareness month in October, we are taking time to recognize outstanding work from our employee owners for the following:

  • Becoming 100% vested in their ESOP after successfully working with the company for 6 years.
  • Achieving top Sales.
  • EOH Values award winners. Employees went above and beyond in these five (5) areas to make a positive impact at the company and were nominated by their peers.
    • Acts with Integrity – making decisions in the best interest of the company, taking time to consider the “right thing to do” and treating others with respect.
    • Laser Customer Focus – proactively assessing customers’ needs, under-promising & over-delivering on commitments and going above & beyond to provide both internal & external customers with the highest level of service.
    • Work Smart – assessing every situation to ensure the safety of employee owners, confirming highest quality product is delivered to the customer in the most efficient manner.
    • Always Seeking Improvement – bias for action, using company resources to grow return on investment, with backbone to identify the right course for the business.
    • Produce Results – focusing on key outputs for department/business by critically considering right priorities, fighting through setbacks and rising to the occasion to provide a successful outcome.

As an ESOP company, we, the employees, “own” the business. Each person has a stake in the outcome of “our” company. We move together as a team, so we all have a vested interest in the growth and continued success of our customers and our company. Congratulations to all our award winners!

Hydraquip, Inc. acquires Tennessee-based Flint Hydraulics, Inc.

Houston, TX – Hydraquip, Inc., a leading provider of innovative power solutions across multiple markets, officially acquired substantially all assets of Flint Hydraulics, Inc. on October 1, 2021. Flint Hydraulics, Inc. carries an excellent brand recognition and outstanding reputation with its customers. These clients will continue being served by the business under the name of Flint Hydraulics.

Flint Hydraulics is a global distributor of original and replacement hydraulic pumps, motors, and hydraulic pump replacement parts for heavy mobile and industrial equipment based in Memphis, TN. In addition to their hydraulic distribution capabilities, Flint Hydraulics provides complete hydraulic circuit design for a variety of mobile and industrial equipment. With over 40 years in business as a company, Flint Hydraulics has earned the respect of many large clients in the industry. With similar capabilities, Hydraquip is expected to utilize the synergies between the two companies to exponentially grow its business.

 “We are excited to welcome Flint Hydraulics to the EOH (Employee Owned Holdings, Inc.) family,” stated Scott Nelson, President of Hydraquip. “The synergies of vendor-partners, including the Danfoss partnership shared by both companies, will allow us to diversify into new geographical territory and markets.”

 “We are thrilled to partner with Hydraquip,” stated Andy Malmo, President and CEO of Flint Hydraulics. “Over the years, we have built our reputation as a company focused on providing high-quality hydraulic components with outstanding customer service. I can’t think of a better partner to grow our business.”

“This acquisition marks the latest step in our ongoing effort to grow our business and provide innovative power solutions to new territories,” commented Richard Neels, President and CEO of Employee Owned Holdings, Inc. “We are thrilled to be entrusted with their dedication and talented employees.”

Flint Hydraulics joins the family of 100% employee-owned companies operating under Employee Owned Holdings, Inc. (EOH). EOH is the parent company for Hydraquip and other U.S. fluid power and automation companies: GCC, Supreme Integrated Technology, Inc. and Elite Controls, Inc.

September 2021 Employee Spotlight

Meet our September Employee Spotlight, Ross Phillips! Ross is a part of our IT team and has been with our employee-owned family for almost 3 years. Let us get to know him better:

What is your role? Briefly describe what you do.

“My Job title is IT Specialist. I focus on hardware, software, email, user accounts, group policy, phone systems, etc. I am a liaison between EOH and other companies that currently provide IT related services. I am also furthering my knowledge in firewalls and other cybersecurity tools.”

Who/what inspires you?

“As conceited as it may sound, I inspire myself. When I felt like I could not do something, I made sure to prove myself wrong. With that attitude, my accomplishments began to build up and served as a counter to any negative outlook that I may conjure. It motivates me to keep moving forward and not become complacent.”

If you had to pick one strength you bring the to team, what would it be?

“I am a mixed bag. A jack of all trades but master of none. I have done a little bit of everything in both my military and IT professions. Many of my tasks in the military were deeply rooted in information technology and analysis. With my past experiences in the military along with the lessons learned in college, I had a good understanding of “the big picture” when it came to a corporate environment. I also have an obsessive nature. I usually don’t quit at something once it has its hooks in me, whether it be a task or an idea. This characteristic helps in the areas of problem solving and troubleshooting.”

What do you like to do in your free time?

“At one point I was gamer, which led me to building computers and deciding to go to school for Management Information Systems. Now, I am really into just working on my house and doing things around the lawn while listening to Neil Diamond and hydrating with sweet tea. Dad stuff basically, except that I am not a father. I still like to ride motorcycles and get out on a long trip once a year. I am slowly getting back into camping and would like to camp from the bike on the next trip. I also spend a lot of time with my two dogs, Madison and George.”

If I could learn how to do one thing, what would it be?

“I have always wanted to learn to play the piano.”

Where were you born?

“I was born in Houston, TX.”

What’s the best thing about your job?

“The people. My supervisor and colleagues have continuously pushed me to attend training, broaden my scope of tasks, and prepare me for future endeavors. I feel that I am respected and appreciated as a member of the EOH IT team.”

What’s been one of your proudest moments at EOHI?

“I do not have one singular moment but more a culmination of several small moments. I thought it was challenging and fun to rebuild certain parts of our infrastructure soon after I was hired. I have had the opportunity to learn several new skills and become proficient in several different tools that benefit a corporate landscape. It is not so much the proudest moment that I have at EOHI, but pride in the company for continually shaping me into a more knowledgeable professional.”

How do you define success?

“If I can go into the office happy, come home at the end of the day happy, and go to sleep without a worry then I consider that successful.”

Where is your favorite place that you’ve traveled?

“I have been all over the US and outside of the country several times. I honestly couldn’t choose a favorite. I do have a preference though and that would be the deserts of West Texas. I would gladly choose tumbleweeds, cactus, and mountains over the pine trees of East Texas any day.”

August 2021 Employee Spotlight

What is your role? Briefly describe what you do.

“I’m a Controls Engineer at Elite Controls. My role is designing control systems to give our customers solutions for their applications. I support our panel shop and sales as well.”

Who/what inspires you?

“I would say my family and my wife inspire me to be the best version of myself every day.”

If you had to pick one strength you bring the to team, what would it be?

“I’m a dynamic and detail-oriented person. Being detail-oriented helps create a solution that will satisfy the company and make a quality product. Being dynamic allows me to keep working on something I don’t like until it is fixed properly.”

What do you like to do in your free time?

“I like to play tennis, hang out with friends, go to movies, and travel.”

If I could learn how to do one thing, what would it be?

“I would like to learn to fly, just for hobby. I think it would be very cool.”

Where were you born?

“I was born in Sonora, Mexico, which is a state of Mexico. Most of my life I lived in Monterrey, Mexico.Throughout elementary school I was in about 4 different cities and schools. We moved around a lot. After college in Monterrey, I moved to Houston.”

What’s the best thing about your job?

“I enjoy having the opportunity to work on different applications.  Every application we design is different which keeps us creative and motivated. We get to know different brands and work on something new every day. It is cool to see every stage of the application from design to installation.”

What’s been one of your proudest moments at EOHI?

“Completing ECI’s biggest project to date has been my proudest moment with EOHI. The project was a big control system for an oil & gas application. This was one of the most complex systems we’ve ever made which took six months from start to finish. Seeing the project run smoothly and a satisfied customer made me very proud.”

How do you define success?

“I think success is being able to enjoy what you do for a living. It is rewarding to actually enjoy the things that you are good at.”

Where is your favorite place that you’ve traveled?

“This is a difficult question because every year it changes. I would have to say a Caribbean beach is the best place to travel because you get to relax.”

July 2021 Employee Spotlight

Meet our July Employee Spotlight, Miles Bromfield! Miles has been a valuable sales engineer with our GCC location in Kent, WA for 6 months now. He has hit his Signature (customer service) goals each month and is training to become a territory manager. Let us get to know him better:

What is your role? Briefly describe what you do.

“I’m a sales engineer for GCC Kent northwest. I’m a territory manager-in-training. I’m responsible for growing sales within that territory and managing any projects relating to customers, whether they’re mobile or industrial.”

Where were you born?

“I was born in Long Island, New York in a small town called Bay Shore. I lived there until I was 18, went to school in Maryland, and left there when I was 23.”

Who/what inspires you?

“I would say my future children; I want to be someone they can rely on. I want to be the person they look up to and leave a legacy they can be proud of.”

If you had to pick one strength you bring to the team, what would it be?

“My desire to win. I played sports for a long time and hate losing, so I think having that desire to win helps our team with opportunities.”

What do you like to do in your free time?

“I try to stay active as much as possible through soccer, working out, golfing, kayaking, and walking with my dog, Tyrion. I also like binge-watching Netflix shows including Breaking Bad and Game of Thrones.”

If I could learn how to do one thing, what would it be?

“It would probably be learning to code, which is something I didn’t get around to in the pandemic. I learned a bit in college and never kept up with it. The things you can do with coding are pretty cool, and it makes things easier if you know how to do it.”

What’s the best thing about your job?

“The best part is getting to see some cool applications. I recently went to Nucor Steel and saw them melt metal at high temperatures, causing a massive explosion that was fun to watch.”

What’s been one of your proudest moments at EOHI?

“Back in March, we were trying to get this account, one of our vendor Rexroth’s target 48 (48 accounts that they 100% want to do business with).  I went to go visit the account and I got it on my first try. They had broken pumps and wanted to do business with us to fix them.”

How do you define success?

“Success is really dependent on the situation. I’m all about the small victories; whatever win you can get is a success in my book. Its all about the small victories building up to a successful story.”

Where is your favorite place that you’ve traveled?

“I’ve been all over the U.S., Mexico, Caribbean, etc. I haven’t been to Europe or Asia, but they are on my list. Probably out of places I’ve been to, the Caribbean has been my favorite. The vibes are unreal, and nothing beats sitting on the beach with a mojito, snorkeling and all that stuff.”

June 2021 Employee Spotlight

Meet our June Employee Spotlight, David Beck! David has been a valuable team member with Hydraquip for 8 years now. He plays a huge role in our shipping and receiving department as our Senior Warehouse Technician. Let us get to know him better:

What is your role? Briefly describe what you do.

“I am the Senior Warehouse Technician.  I assist and train level 1 and 2 techs with stocking, shipping, and receiving in the warehouse.

Where were you born?

Houston, TX

Who/what inspires you?

“My Kids. They motivate me to try my best and give it my all for a better living.”

If you had to pick one strength you bring the to team, what would it be?

“Being a people person really helps me be success at this job. This strength allows me to get along with everyone.”

What do you like to do in your free time?

“Ienjoy playing basketball and jujutsu. Not many people know about jujutsu, but it is a form of martial arts. I recently took my son to one of his jujutsu matches for the first time and was excited to get to share this passion with him.”

If I could learn how to do one thing, what would it be?

“I think it would be really cool to learn Spanish.”

What’s the best thing about your job?

“The best part about working in the warehouse is that I get to work in a laid back environment and have flexibility to get the job done.”

What’s been one of your proudest moments at EOHI?

“My proudest moment was when I received employee of the month within the first year of working for Hydraquip. Receiving this award so early on in my career here made me feel valued and appreciated. It motivated me to continue to grow in this field.”

How do you define success?

“To me, success means being able to provide for my family. If I can do that, I am successful. I want to put my kids in the best position.”

Where is your favorite place that you’ve traveled?

I enjoyed traveling to Honduras because of the beautiful scenery, beaches, and great food.”

Supreme Integrated Technology, Inc. acquires C.S. Controls to grow market presence

New Orleans, LA – On June 9th, 2021, Supreme Integrated Technology, Inc. (SIT) acquired the assets C.S. Controls, Inc., a manufacturing company focused on specialized systems for military and marine applications based in Houma, LA.

C.S. Controls primarily concentrates in marine applications for the defense and private industries, completing systems such as steering gears, cranes, winches, ballast systems, movable doors and many other unique products. With over 30 years in business as a company, C.S. Controls has earned the respect of many large clients in the industry. SIT provides similar systems and is expected to utilize the synergies between the two companies to exponentially grow its business.

 “We are excited about the new products and solutions we can bring to market with the expertise from the C.S. Controls team,” stated Kevin Hayes, President of SIT. “I am confident that together we will be able to tackle more opportunities and provide the first-in-class results that clients have come to expect from our organization.”

 “We are thrilled to be able to partner with SIT – their employee ownership values and reputation in the industry made us 100% confident in our decision,” stated Larry Srigley, the owner and President of C.S. Controls. “This partnership will help us to expand our geographical presence and ability to offer solutions to new markets.”

C.S. Controls, Inc. joins the family of 100% employee owned companies operating under Employee Owned Holdings, Inc. (EOHI). EOHI is the parent company for SIT and other U.S. fluid power and automation companies: GCC, Hydraquip, Inc. and Elite Controls, Inc.

“We believe C.S. Controls to be a fantastic addition to SIT’s business,” commented Richard Neels, President and CEO of Employee Owned Holdings, Inc.  “We are thrilled to be entrusted with their dedicated and talented employees.”

May Employee Spotlight

Meet our May Employee Spotlight, Kevin Hayes! Kevin has been a part of our employee-owned family for 13 years. He is responsible for starting Supreme Integrated Technology from the ground up. Let us get to know him better:

What is your role? Briefly describe what you do.

“I am the President of Supreme Integrated Technology. This job comes with many tasks, but I operate SIT and oversee all the functions of the company.”

Who/what inspires you?

“First and foremost, The Lord is my biggest inspiration. My internal drive to be successful also inspires me every day.”

If you had to pick one strength you bring the to team, what would it be?

“Having a positive, resilient attitude is my biggest strength.  Work can be challenging so you have to keep trying and never give up.”

What do you like to do in your free time?

“I enjoy playing video games, riding my motorcycle, and traveling. I’ve been riding my Harley Road Glide for four years now.”

If I could learn how to do one thing, what would it be?

“Believe it or not, I would love to learn how to dance. Unfortunately, I have no rhythm so learning any kind of dance would be great.”

Where were you born?

“I was born in Lafayette, LA. I have been in Louisiana my entire life but moved to New Orleans in 1992.”

What’s the best thing about your job?

“The best thing about my job is working with all our incredible employees. I also enjoy getting to work on such complex and challenging projects every day.”

What’s been one of your proudest moments at EOHI?

“My proudest moment has been starting up SIT from scratch. At the time, our EOHI family did not have the engineering and system side so it was cool to add this aspect to our family. We started from nothing with only three employees, and it has been amazing to be here through it all and see how far we’ve come since then.”

How do you define success?

“I see success as the ability to adapt to change and adjust to what life deals you.”

Where is your favorite place that you’ve traveled?

“Having the opportunity to travel to Italy has been my favorite travel experience. I visited Rome, Positano, and Capri. The Ruins in Rome was one of the coolest experiences of this trip.