Illini Hi-Reach Becomes an ESOP Company

Illini Hi-Reach has become an employee-owned company, an ESOP (employee stock ownership plan), president and CEO Larry Workman told RER.

Michael Roth

Feb. 16, 2018

Illini HiReach opened its new Crown Point Ind headquarters last year — Illini Hi-Reach opened its new Crown Point, Ind., headquarters last year.

Illini Hi-Reach has become an employee-owned company, an ESOP (employee stock ownership plan), president and CEO Larry Workman told RER. All of the Illini management team remains in place. The company is planning to add more experienced employees as the company continues its strategic growth and expansion.

“We are very pleased to announce that Illini has completed a successful transition into an ESOP this past month,” Workman said. “This is a well-deserved and excellent opportunity for our employees and their long-term future as well as for our company. After 25 years of growth and expansion at Illini, a well-structured ESOP was the right choice for all involved to capitalize on the continuing strong growth of the rental equipment industry for years to come.”

In other Illini Hi-Reach news, the company relocated to a new South Bend, Ind., location. The new branch has a full-service shop with more than two acres of outside storage space, with a better location to serve the market for better service and trucking. The branch manager is Troy Farkas.

Based in Crown Point, Ind., Illini Hi-Reach is No. 98 on the RER 100.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.