Stephenson Equipment Inc. Launches Employee Stock Ownership Plan
Stephenson Equipment Inc. announced the implementation of an Employee Stock Ownership Plan. SEI’s ESOP is a new and additional benefit for employees throughout the company’s footprint in Pennsylvania, New York, and Maryland. Stephenson was founded in 1957 and this year celebrates 66 years in business.
“Adding an ESOP benefit plan for our employees will have a profoundly positive effect,” said Charlie Walsh, Stephenson’s president. “Our employees support our customers, and they are the most important part of Stephenson Equipment. The new ESOP plan will allow our employees to participate and contribute meaningfully to the next chapter of growth in our history. In turn, they will enjoy the rewards of that growth with a very impactful new retirement benefit.”
The company said the ESOP will aide in creating an ongoing positive company culture, foster a collaborative work environment, and motivate employees to provide the best customer service through work ethic, honesty, and doing what’s right, which are SEI’s core values.
Stephenson Equipment, a major player in equipment rental, has been a leading equipment distributor for cranes, construction equipment, and public works equipment in the Northeast and Mid-Atlantic operating nine locations in Pennsylvania and New York with an additional service center in Maryland. The company is headquartered in Harrisburg, Pa.
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.