October is Employee Ownership Month, a chance to celebrate employee-owned companies and the people making shared ownership possible. Employee ownership can take several forms, from ESOPs and worker cooperatives to the Employee Ownership Trust (EOT), a trust-based structure most commonly used to hold company shares collectively for the benefit of employees.
Last year, we explored the growing role of EOTs in the future of business succession. This year, we’re focusing on the companies themselves, revisiting just a few of the transactions we had the opportunity to support over the past year. Each started from a different place — succession, independence, family continuity, leadership, or a founder who wanted employees to participate financially in the company’s future — and took shape around the needs of the business.
Guidon: Preserving independence in a consolidating industry
As Guidon, an architecture and engineering firm located in Indianapolis, Indiana, grew to more than 90 employees, founder Luke Leising was looking for a solution that would maintain its independence over the long term. The company considered multiple options, including an outside acquisition, and completed an ESOP feasibility study before ultimately deciding an Employee Ownership Trust was the best path forward.
In November 2025, Guidon implemented an EOT, beginning a phased transition toward 100% employee ownership while keeping its existing leadership and day-to-day operations in place.
RainTech: Employee ownership without an exit
Founded in 2001, RainTech celebrated becoming 100% employee-owned through an Employee Ownership Trust in April 2026. Rather than using the EOT as part of a succession plan, founder and CEO Andrew Jahnke saw it as a natural extension of the people-first approach already embedded in the business.
Today, Andrew remains actively involved as RainTech’s CEO & People Person while employees participate through equal profit sharing and representation on both the Trust Stewardship Committee and Board of Directors.
Hear from RainTech’s founder and employee co-owner →
Signature Vacuum: A phased transition for two founders
After more than two decades building Signature Vacuum Furnaces, co-founders Greg Kimble and Tim Horning were working with different timelines for what came next. Greg was ready to begin stepping back while Tim planned to remain actively involved.
In April 2026, the Pennsylvania manufacturer began with a partial EOT, allowing for a gradual ownership transition without requiring both founders to make the same move at the same time — while leaving room for that transition to continue over time.
Read Signature Vacuum’s announcement →
P. Terry’s: Pairing employee ownership with profit sharing
From its beginnings as a single burger stand in Austin, Texas, P. Terry’s Burger Stand has grown to roughly 1,800 employees across 37 locations. When it came time to think about the next chapter, cofounders Kathy and Patrick Terry chose to introduce employee ownership while continuing to lead the company.
Their approach paired an EOT with a new profit-sharing program for employees with at least two years of tenure. Currently, the program distributes 5% of operating income among eligible employees, with plans to increase that amount to as much as 20% over time.
Hear from P. Terry’s co-founder on employee ownership →
Rost: Making room for family succession and employee ownership
For founders Tim and Toby Rost, family was already part of the succession picture. Their children and other family members were active in the Missouri landscaping company, and they wanted to preserve that opportunity while creating a financial benefit for the employees who had helped build the business.
In June 2026, Rost transitioned a portion of the company to an Employee Ownership Trust. The structure creates a path for continued family ownership and employee profit sharing, while helping ensure the company’s future isn’t reliant on any one individual or generation.
LockData: Planning ownership and leadership succession together
After more than 25 years building LockData Technologies, founder Chuck Lockwood was thinking about more than a change in ownership — he was also planning for a future beyond his day-to-day leadership while looking to preserve the Pennsylvania-based software company’s independence, client relationships, and institutional knowledge.
LockData announced its transition to an EOT, with employees taking roles in trust governance and seats on the Board of Directors alongside an updated profit-sharing program. Chuck remains involved as President while members of the leadership team take on greater responsibility.
Read LockData’s announcement →
Mosaic Capital and Southern Shade Tree: Protecting employee upside in a private equity investment
When employee ownership-focused private equity firm Mosaic Capital Partners invested in Southern Shade Tree (SST), it recognized an opportunity to build employee participation into the transaction without transferring company ownership to employees.
Alongside its investment, Mosaic established an EOT tied to a bonus plan that gives eligible employees 10% of proceeds from a future sale, change-in-control transaction, or similar liquidity event. The EOT’s consent is required before key terms of the bonus plan can be changed.
Read Mosaic and SST's announcement →
When an EOT may be worth exploring — for your business or your client
Long before an owner chooses a succession plan, they’re often thinking about what they want the next chapter of the business to look like: how involved they want to remain, whether independence matters, what role family or existing leadership might play, and what they want employees to gain from the transition.
The companies we’ve worked with landed on different structures: full and partial ownership, gradual transitions, founders staying involved, different approaches to profit sharing and governance, and in Southern Shade Tree’s case, an EOT protecting a future financial benefit rather than holding ownership for employees.
For owners starting to think about exit planning, getting clear on those priorities can help narrow the paths worth exploring before getting into valuation, financing, tax treatment, or legal structure.
For advisors helping clients work through those questions, an Employee Ownership Trust may be worth bringing into the conversation when an owner wants to:
Preserve the company’s independence or culture
Maintain flexibility around when or how quickly they step back
Create a meaningful financial benefit for employees
Keep family members or an existing leadership team involved
Compare alternatives before pursuing a sale to an outside buyer
Whether an EOT ultimately fits will depend on the business itself, including valuation, financing, ownership structure, governance, potential profit sharing, and the owner’s future role.
Celebrating the companies behind employee ownership
Employee Ownership Month gives us a chance to celebrate these companies — and the owners, employees, families, leadership teams, and advisors working through what comes next for each business.
Considering an Employee Ownership Trust for your business or a client? You’re in good company. Schedule an advisory call to talk through your goals and see if an EOT could be a fit.
