BOULDER – Starting next week, the Leanin ‘Tree Inc. greeting card maker will be owned by its employees.
The company, which has 148 employees, is in the process of transitioning from a family business to one operated in the form of an employee stock plan.
Tom Trumble, president of Leanin ‘Tree and son of the late Leanin’ Tree co-founder Edward Trumble, has sold his entire stake in the company to ESOP.
Trumble will step down as chairman and join the company’s board of directors, which will lead Leanin ‘Tree with CEO Rob Carr.
“It has always been a goal of the Trumble family for Leanin ‘Tree to continue forever. To best ensure that this happens, we formed the Leanin ‘Tree ESOP. Company employees are now the new owners of Leanin ‘Tree. Trumble said in a prepared statement. “We never doubted that this was the best possible transition for the employees, the Trumbles, but also for the customers, representatives, artists and suppliers. It’s a win-win for everyone. It’s a good feeling when something feels so good.
The ESOP transition is not expected to impact customers, suppliers or contract artists.
“We have a very experienced management team,†Carr said in a statement. “This team is fully engaged and motivated to provide the excellent products and services our customers and partners expect from Leanin ‘Tree.”
Leanin ‘Tree is just the latest company in the region to transition to an ESOP. Windsor-based DaVinci Sign Systems Inc. transferred its ownership to an ESOP trust, effective December 1.
Founder John Shaw “wanted to leave a legacy and reward staff for their dedication,” the company said in a press release. “This gives workers the benefits of a future appreciation in the value of the company. Transferring ownership in this way gives the founder the comfort of knowing that the company’s legacy will be in the hands of the people who helped build it.
“I am honored and thrilled to be able to share the success of the business with all of our staff and to offer the pride of owning the business,†said Shaw.
Other examples of ESOP companies in the Boulder Valley and northern Colorado include Brinkman Construction Inc. in Fort Collins, Odell Brewing Co. in Fort Collins, and Left Hand Brewing Co. in Longmont.
© 2021 BizWest Media LLC
BOULDER – Starting next week, the Leanin ‘Tree Inc. greeting card maker will be owned by its employees.
The company, which has 148 employees, is in the process of transitioning from a family business to one operated in the form of an employee stock plan.
Tom Trumble, president of Leanin ‘Tree and son of the late Leanin’ Tree co-founder Edward Trumble, has sold his entire stake in the company to ESOP.
Trumble will step down as chairman and join the company’s board of directors, which will lead Leanin ‘Tree with CEO Rob Carr.
“It has always been a goal of the Trumble family for Leanin ‘Tree to continue forever. To best ensure that this happens, we formed the Leanin ‘Tree ESOP. Company employees are now the new owners of Leanin ‘Tree. Trumble said in a prepared statement. “We never even doubted that it was the best possible transition for the employees, the Trumbles, but also for the clients, representatives, artists and suppliers. It’s a win-win for everyone. It’s a good feeling when something feels so good.
The ESOP transition is not expected to impact customers, suppliers or contract artists.
“We have a very experienced management team,†Carr said in a statement. “This team is fully engaged and motivated to provide the excellent products and services our customers and partners expect from Leanin ‘Tree.”
Leanin ‘Tree is just the latest company in the region to transition to an ESOP. Windsor-based DaVinci Sign Systems Inc. transferred its ownership to an ESOP trust, effective December 1.
Founder John Shaw “wanted to leave …
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