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.
