STEVENS POINT— Ellis Construction, a full-service construction company based in Stevens Point, has announced it has transitioned ownership of the company to its employees and is now 100% employee-owned through an Employee Stock Ownership Plan (ESOP).
An ESOP is a business structure that empowers employees by giving them a financial stake in the company's success.
"This is an exciting step forward for Ellis Construction," said Andrew Halverson, executive vice president of Ellis Construction. "Since 1932, this company has been family-owned and deeply rooted in the communities we serve. Transitioning to an ESOP keeps Ellis community-focused while giving the team members who have always been our backbone a direct stake in the company's future.”
“My grandfather founded Ellis Construction and my father continued to build it into what it is today,” said Erik Carlson, president of Ellis Construction. “As a third-generation owner, I am proud to welcome my colleagues as owners of this outstanding organization. I know my family would be proud of the reputation Ellis has earned for quality craftsmanship and community service.”
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