OwnersEdge, a 100% employee-owned ESOP holding company, has a
vision of growing from its current five operating companies to ten
and delivering the American Dream to all of its current and future
employee owners. The acquisition of Communications Direct is a
significant step in advancing that plan.
WAUKESHA, Wis., July 25,
2024 /PRNewswire-PRWeb/ -- In a strategic move to
accelerate growth, OwnersEdge Inc., a 100% employee-owned ESOP
holding company based in Waukesha,
Wis., has acquired Communications Direct (CommDirect), an
Illinois-based, mission-critical
communications business that is a Motorola Solutions channel
partner and a national leader in communication system rentals.
"We're excited to welcome the employees of
CommDirect to our business and are always looking to bring
additional companies into OwnersEdge," said Christine Adee, co-CEO of OwnersEdge.
This is the first acquisition for OwnersEdge in Illinois, and the first since it announced a
new leadership structure in June
2023, in which Lisa Reardon,
founder and CEO, transitioned to the role of executive chair, while
Christine Adee and Rob Dillon were appointed as co-CEOs.
OwnersEdge has a vision of growing from its current five
operating companies to ten and delivering the American Dream to all
of its current and future employee owners. The acquisition of
CommDirect is another significant step in advancing that plan.
CommDirect is headquartered in St.
Charles and has rental offices in four key cities that host
large trade shows and conventions and high-profile events –
Morton Grove, Illinois (which is
close to Chicago); Orlando; Carrollton,
Texas (just outside of Dallas/Fort
Worth); and Las Vegas. All
26 CommDirect employees are now employee owners and will benefit
from the company's employee stock ownership plan (ESOP).
"During its 30-plus years, CommDirect has established itself as
a premium provider of critical communication systems with
differentiated capabilities in the large system rental market. This
acquisition is a strategic move that allows us to expand our
geographic footprint into Illinois
with a business that perfectly complements two of our existing
operating companies," said Rob
Dillon, co-CEO of OwnersEdge. "CommDirect clients will now
have access to additional solutions that BAYCOM and Implecho offer,
including video surveillance and door access control security
systems, mobile computing products, headsets and tour guide
systems."
OwnersEdge Leadership Structure
Lisa Reardon, executive chair of
OwnersEdge, said the acquisition demonstrates the effectiveness of
the new leadership structure, which allows her to focus on finding
and acquiring high-quality businesses that align with the
OwnersEdge culture and purpose.
"Our structural changes have provided the necessary capacity and
focus to accelerate our vision of building sustainable businesses
throughout the Midwest," Reardon said. "By adding CommDirect to our
portfolio, we are able to continue to deliver on our purpose of
enabling current and future employee owners to live out their own
American Dream."
CommDirect Insight
Tim Van Hiel and Bill Chmelik, the owners of CommDirect, said
they chose to partner with OwnersEdge because of its technical
expertise, customer focus and commitment to employee ownership.
"Their philosophy of treating employees with respect and
rewarding them with the gift of employee ownership gave us
tremendous confidence that they will be great stewards of this
business going forward," Van Hiel
and Chmelik said. "We are proud to join the OwnersEdge portfolio
and contribute to its growth and success."
OwnersEdge Growth
OwnersEdge was established in 2015 as an ESOP holding company to
provide revenue stream diversity and greater returns for its
employee owners. During the past nine years, OwnersEdge has
executed nine acquisitions and expanded its workforce to more than
300 employees.
"I believe the ESOP model is one of the best ways to create a
committed and engaged workforce where employees view their
contributions as vital and impactful to the overall success and
financial health of the business," said Christine Adee, co-CEO of OwnersEdge. "We're
excited to welcome the employees of CommDirect to our business and
are always looking to bring additional companies into
OwnersEdge."
About OwnersEdge
Based in Waukesha, Wis.,
OwnersEdge Inc. is a 100% employee-owned ESOP holding company that
strives to invest in and build sustainable businesses throughout
the Midwest. The operating companies within the OwnersEdge
portfolio utilize their industry expertise to drive business growth
and create value for stakeholders including customers, communities
and the ESOP employee owners. The existing companies in its
portfolio – Asche & Spencer, BAYCOM, CC&N, Implecho and
QComp Technologies – provide diverse products and services to a
variety of market segments ranging from public safety to
construction to manufacturing and music production.
Media Contact
Monica G Baer, OwnersEdge, 1 4148815053, mbaer@baercarlson.com,
https://www.ownersedge.com/
View original content to download
multimedia:https://www.prweb.com/releases/ownersedge-acquires-illinois-based-communications-direct-302205012.html
SOURCE OwnersEdge