Posted: June 16, 2014
(Kent, Ohio) – The Davey Tree Expert Company is the largest employee-owned service firm company in the U.S., according to data from the National Center for Employee Ownership (NCEO).
The NCEO’s 2014 Employee Ownership 100 list includes the nation’s largest companies that are at least 50 percent owned by an employee stock ownership plan (ESOP) or other broad-based employee ownership plan.
Davey, which employs 7,800 people, is the seventh-largest firm on the list that is 100 percent employee-owned and is the overall 17th largest in the U.S. by total employees. Davey has been employee-owned since 1979 and is the largest employee-owned company in Ohio.
“People are our greatest assets,” said Karl Warnke, Davey’s chairman, president and CEO. “We have been committed to employee ownership for 35 years, and that unwavering dedication has allowed Davey to grow and become a stable yet progressive institution.”
The companies on the list employ approximately 710,000 people worldwide, up from 674,000 in 2013. Companies on both the 2013 and 2014 lists saw their employment rise approximately 4 percent.
An estimated 11 million people currently participate in 12,000 ESOPs in the U.S., according to the NCEO. ESOP companies have an estimated $858 billion in stock participation plan assets.
Research shows ESOP companies that contribute significantly each year to an ownership plan, in addition to offering employees a means to participate in decisions affecting their jobs and that routinely share information about the company’s financial performance with their employees, perform better than firms that do not, according to the NCEO. Details on this research, as well as the full Employee Ownership 100, can be found at the NCEO’s website at www.nceo.org.
The full Employee Ownership 100 list is available online at http://www.nceo.org/articles/employee-ownership-100.
The Davey Tree Expert Company, with U.S. and Canadian operations in more than 47 states and five provinces, provides a variety of tree care, grounds maintenance and consulting services for the residential, utility, commercial, and government markets. Founded in 1880, Davey has been employee owned for 35 years and has more than 7,800 employees who provide Proven Solutions for a Growing World. For more information, visit www.davey.com.