Latest
Top 100 List Shows Rosendin Electric as Largest Privately Owned
Electrical Contractor in the Nation.
SAN
JOSE, Calif. (October 24, 2012) -- Rosendin Electric
(http://www.rosendin.com)
has been named the nation’s largest 100% employee-owned electrical
contractor by the National Center for Employee Ownership (NCEO,
http://www.nceo.org).
In the latest ranking for 2012, the NCEO has included Rosendin
Electric as one of the top 100 largest employee-owned companies, and
is the largest electrical contractor to make the list.
To
qualify for the NCEO Top 100 list, a company must have the majority
of its stock owned by an employee stock ownership plan (ESOP) or some
other board-based employee ownership plan. In total, the companies
that made the 2012 list employ more than 687,000 people, including
Rosendin Electric with more than 2,500 employee-owners. The NCEO
estimates there are currently 10,900 ESOPs in the United States,
employing more than 10.3 million people, with almost $900 billion in
assets. About one-third of the companies named to the NCEO Top 100
are 100% employee-owned.
"Rosendin
Electric continues to grow thanks to our dedicated team of employees
working in offices across the country and abroad. As members of a
team, we look out for the best interest of our teammates to ensure
everyone's work is done safely, with the utmost quality, and with
results that exceed our customer's expectations. Being an
employee-owned company gives everyone a stake in our growth and we
know that we can count on everyone on the team to contribute to our
ongoing success," said Tom Sorley, Chairman and CEO of Rosendin
Electric.
According
to research by the NCEO, the National Bureau of Economic Research,
Joseph Blasi and Douglas Kruse of Rutgers, and many others,
employee-owned companies tend to grow at a significantly faster rate,
have much lower turnover, and are much more financially stable than
comparable non-employee-owned companies. Moreover, those working for
employee-owned companies accumulate about three times what the
typical employee in non-employee ownership companies accumulate in
their retirement plan. Details on this research, as well as the full
Employee Ownership 100 list, can be found on the NCEO Web site
(http://www.nceo.org).
About
Rosendin Electric
Rosendin
Electric, Inc., headquartered in San Jose, California, is a 100%
employee-owned electrical engineering, power and communications
provider and the largest privately held electrical contractor in the
United States. With over 2,500 employees and experience nationwide,
Rosendin Electric has built upon a 90-year reputation for quality
design and installations. For additional information, visit
http://www.rosendin.com.
Contact:
Shelly
Goulart
Marketing
Manager
Rosendin
Electric, Inc.
880
Mabury Road
San
Jose, CA 95133
(408)
534-2819
