SPS is 100% Employee Owned
Build wealth and opportunities for retirement by owning company shares
An ESOP is an employee ownership structure that works similarly to a 401k, meaning it is a qualified retirement plan. Employees are given ownership over the company’s stock and more shares continue to be distributed to employees over time. If you work for an employee-owned company with an ESOP, you have your own account that holds your shares in the company.
Becoming fully vested (gaining full ownership of your shares) typically takes a few years, which can encourage employees to stay at employee-owned companies for the long-term.
An ESOP is a retirement plan that, like a profit-sharing plan, allows employee participants to share in the company’s success.
Any full-time employee not covered by a Collective Bargaining Agreement.
At SPS New England, we believe that out employees are our most valuable asset. That’s why we offer an Employee Stock Ownership Plan (ESOP) that makes our employees owners of the company.
When we started SPS in 1984, we never imagined the level of success that would come to be achieved 40 years later. As a family business, we have tried to include every one of our employees in our extended family, and they have responded by making SPS one of the largest and most highly respected road and bridge contractors in New England.
However, history has shown that family businesses rarely stand the test of time, with less than 10 percent making it past the second generation and a dismal 2 percent making it past the third.
What we have built is more than a family legacy, it is a living, breathing being in and of itself. It is the sum of the collective efforts of every employee whose blood, sweat and tears have gone into building what we see today.
It is for this reason that we have chosen to bring SPS back to the people who embody it every day and will continue to do so without end.
This will allow SPS to remain New England’s preeminent road and bridge construction company for hundreds of years to come and beyond.
Wayne, Karen & Phil
SPS sets high standards and expects a lot from team members, but we also provide each employee with the tools that he or she needs to excel, and opportunities to advance. Career progression can take a variety of different paths depending on the individual. Some of these college graduate career paths include:
A sale to an ESOP provides very large benefits to the company’s loyal employees
ESOP-owned companies are much less likely to participate in layoffs, even during recessions, than their peers.
A sale to an ESOP provides very large benefits to the company’s loyal employees
ESOP-owned companies are much less likely to participate in layoffs, even during recessions, than their peers
ESOP transactions permit the owner to sell all or part of the business and, if desired, remain involved in the business following the sale to an ESOP
There are a variety of tax benefits that can make an ESOP transaction economically valuable to the former owner, the company and the employees
ESOP-owned companies tend to produce more free cash flows and default less than their peers
In addition to these ESOP benefits, SPS offers employees competitive compensation and benefits packages, a collaborative work environment, and opportunities for professional growth within our expanding organization.
100% of SPS stock is owned by our employees. Employee-owners pay $0 to join the SPS ESOP Plan.