FOUNTAIN
VALLEY, Calif., April 17,
2024 /PRNewswire/ -- The Menke Group, a leading
full-service ESOP provider, announced that AV Construction, a
renowned healthcare development firm based in Fountain Valley, has become 100 percent
employee owned with the help of The Menke Group. The Menke Group
will assist AV Construction to extend ownership of the company to
their employees by way of an Employee Stock Ownership Plan
(ESOP).
ESOPs are the most commonly-used forms of employee ownership in
the United States, according to
the National Center for Employee Ownership. Designed to encourage
and reward increased employee productivity and efficiency, an ESOP
offers multiple advantages to company owners, employees, and
communities. Companies can offer an attractive employee benefit to
workers to help them fund their retirement plans, helping to
attract and retain employees. Company owners or shareholders who
wish to build a robust succession plan for their business in order
to remain independent and continue to conduct "business as usual"
can keep jobs in their communities by moving to an ESOP.
"Arees and the team at AV have the right formula for a
successful company owned by its employees. Since an ESOP creates a
direct link between employee productivity and employee benefits,
nurturing a collaborative culture where the employee-owners and the
bottom line can thrive is vital," said Trevor Gilmore, CEO of The Menke Group. "We have
found that a 5 or 10 percent increase in individual employee
productivity can result in increasing company profitability by 50
percent or more."
ESOPs work particularly well in companies where human capital is
a key component of success. An ESOP rewards and retains staff in a
remarkably efficient manner, allowing for a well-executed
succession strategy.
"Since our inception, AV Construction has been committed to
excellence in the delivery of healthcare development and a team
approach to every project by our skilled design consultants and
construction experts," said Arees
Akoubian, CEO of AV Construction. "With the employee
ownership model, we can provide an excellent retirement benefit to
our team of employee-owners and reassure our current and future
customers that there is a strong business succession plan in place
for the company and community. We want to thank the Menke Group for
their excellent advice and counsel in structuring and launching our
ESOP."
About AV Construction
AV Construction was founded in 2002 to support the medical
community in constructing facilities within budget and in
record-breaking timeframes. The company is based in Fountain Valley, California and devotes 100
percent of its resources to healthcare construction. This approach
has allowed healthcare providers to deliver state of the art
facilities with cutting edge technology to patients within their
communities prior to their competitors. AV's experience and
strategic alliances allow them to deliver success to a wide range
of acute care, sub-acute care, and medical-based projects.
About The Menke Group
The Menke Group is America's largest and oldest ESOP
advisor, with more than 50 years of experience creating and
administering ESOPs. Menke has helped more than 4,000 companies
become employee owned and has designed and installed ESOPs all over
the United States, serving
companies with as few as ten employees and as many as 15,000
employees. The Menke Group was founded in 1974 by John Menke who co-authored the landmark federal
ESOP legislation which subsequently spawned the industry. Visit The
Menke Group at www.menke.com for more information.
Contact:
Trevor Gilmore The Menke Group
***@menke.com
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SOURCE The Menke Group