Capitalism With Heart: Harrell Remodeling, Inc. Announces 100% Employee Ownership

HARRELL REMODELING, INC. ANNOUNCES 100% EMPLOYEE OWNERSHIP

A WOMEN FOUNDED, EMPLOYEE OWNED, CLIENT FOCUSED COMPANY

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May 05, 2015, 06:00 ET

MOUNTAIN VIEW, Calif., May 5, 2015 /PRNewswire/ -- Harrell Remodeling, Inc. announces the completion of its Employee Stock Ownership Plan (ESOP) restructuring. As of today, the company has purchased all remaining stock from founders, Iris Harrell and Ann Benson, which was owned outside the ESOP and was the final exciting step to complete the transition to a 100% ESOP owned status.

Capitalism with heart. A former school teacher, turned construction worker, builds an award winning design build firm in the heart of Silicon Valley and a legacy that will live on through the employee-owners of Harrell Remodeling in the form of an ESOP. In an male dominated industry rife with layoffs, seasonal employment and instability, Harrell Remodeling is a rose amongst thorns. Training, mentoring, empowerment, profit sharing and a generous benefit package all ensure high employee satisfaction and retention. When you work with Harrell Remodeling, you are always working with the owner(s).

As a 100% ESOP owned company, Harrell Remodeling, Inc. company stock is now held in trust by the ESOP exclusively for the benefit of Harrell Remodeling's employees. The company first formed the ESOP in 2001 when it started acquiring shares of the company owned by the founders, Harrell and Benson. This represented the first step of a plan to purchase all of its stock and transform itself into a company with all ownership interest in the hands of its employees through the ESOP.

"Harrell Remodeling is committed to the concept of broad-based employee-ownership," explains Ciro Giammona, CEO, Harrell Remodeling, Inc. "We believe that by providing ownership as a company benefit for employees will continue to build what we already have: a true culture of employee empowerment and responsibility. Employee-owners have a vested interest in the creating the highest level of customer satisfaction; they are given an opportunity to share in the success, help shape the company's future, and possibly provide them with a retirement program they might not have otherwise."

Harrell Remodeling is an award winning, full service, 100% employee-owned residential interior and exterior design + build firm. Founded in 1985 with just one employee, Harrell Remodeling now proudly employs nearly 50 employee-owners, including award-winning designers, project and site managers, and a team of highly skilled craftspeople. Celebrating 30 years in business, the Harrell Remodeling's design + build team of employee-owners continues to build the business on a foundation of trust, collaboration, and consistent attention to detail and quality.

Harrell Remodeling is headquartered in Mountain View, CA, with an additional location in Los Gatos, CA.

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SOURCE Harrell Remodeling, Inc.