The MCE Corporation ESOP was created in 2004 as a means to allow the company to continue operations beyond the working lives of its founders, Maynard, Greg and Stan. MCE has long believed its greatest asset and key to longevity has been directly related to its good fortune in finding and retaining dedicated employees. This idea made the transition to employee ownership a straightforward and realistic decision.
While some ESOPs use leverage (debt) to become fully funded owners at their inception, MCE elected to use contributed profits to fund its acquisition and avoid debt. From its inception in 2004 through today, MCE Corporation has invested every penny used to purchase shares through its earned profits! As of May 2020, MCE completed the full transition to ESOP ownership and is now proudly 100% ESOP-owned!!!
Since 2004, all qualified employees now share in MCE’s growth and prosperity by obtaining beneficial interests in the shares of the company, at no cost to them (beyond their hard work and dedication). MCE is proud to share the company’s success directly with the employees who work so hard every day. ESOPs are established to inspire a sense of ownership in the company, enabling them to strive for a common goal of success, which benefits them upon retirement.
“We are proud to be able to share our company’s success directly with the people who helped us get here—our employees,” said MCE’s President Jeff Core. We have a great team that deserves to be rewarded for their hard work, and the ESOP structure gives us the means to do just that!”
To learn more about the ESOP ownership structure, visit the following websites:
