Issue link: http://www.insightdigital.biz/i/504765
38 | I NSIGH T • M a y 2 0 15 w w w . i n s i g h t o n b u s i n e s s . c o m W hen Bob Arnold pondered the future of Vehicle Security Innovators, he never saw one that didn't prominently feature the employees who helped build the company. Nor did he see it leaving Green Bay. But with retirement would come a sale, and there was no telling what a buyer might ultimately do. A new owner could move the company or sell it off in pieces, costing both the employees and the community the jobs and benefits of a company that was built there — unless, of course, that new owner happened to be the collective employees. "e success of the VSI Companies has been built with the hearts, heads and hands of our employees," Arnold says. "It's only right that they share in this success." Founded in 1948, VSI is a global manufacturer of locking security products designed for the freight and cargo industry. Its subsidiaries include VSI Lock & Key Solutions, Pop & Lock, Freight Defense, Simply Keys and Handi-Man Marine. To protect the legacy the company and its employees built, Arnold turned to ESOP Partners, an employee stock option plan consulting and administration firm based in Appleton. Working with ESOP Partners, VSI transferred 100 ESOP Partners helps business owners, employees transition to future Legacy building in focus { s m a l l b u s i n e s s } B y S e a n P. J o h n s o n percent ownership of the company to an ESOP trust in late 2014. Going forward, as the company succeeds, the employees will directly benefit from their own hard work. e concerns expressed by Arnold are typical of many business owners as they begin to think about retirement, says Aaron Juckett, founder and president of ESOP Partners. Certainly, they want to be paid a fair value for the business they have built, but keeping the company and the jobs local are oen top concerns. "ere is no telling what a third party might do once they own it," Juckett says. "ese owners really care about their employees and the communities that have helped them succeed." at's one of the many benefits of an ESOP, Juckett says. It allows the owner to realize the payoff for their investment while protecting the employees and giving them a stake in the company's future success. An ESOP is a recognized retirement plan that buys, holds and sells company stock for the benefit of the employees. ere are approximately 10,000 ESOPs in the U.S. benefiting an estimated 10.3 million employees. Many in Wisconsin might be familiar with the idea of an ESOP through Woodman's Market chain of grocery stores, which touts its employee ownership in its television advertising. Aer working as an ESOP consultant with groups such as Benefits Consultants, Inc. and Principal Financial Group, Juckett founded ESOP Partners in 2006 as a specialty firm focusing exclusively on helping to facilitate ESOPs and provide ongoing administration. Since its founding, the company has grown to represent more than 150 clients nationwide with a staff of 12, which includes both full-time employees and contractors. e company recently expanded its offices to handle additional staff needs created by recent growth. In addition to creating a one-stop shop for all things ESOP, Juckett has become an evangelizer of the concept and regularly appears at regional and national conventions to speak on Aaron Juckett