Richard, a veteran-founded national general contracting and construction management firm, today announced it is now an employee-owned company through an Employee Stock Ownership Plan (ESOP). The transition establishes a structure that allows eligible employees to share in the long-term value they help create, while keeping the company independent and anchored in its values.
“Today is one of the proudest days in the history of Richard. It’s the honor of my lifetime to announce the people who show up, carry the work and build with purpose every day now own Richard through an ESOP,” said Jed Richard, founder and CEO, Richard Purpose Builders. “I did not make this decision because I am done building. I made it because I believe we are just getting started. The future of this company will belong to the people who are building it every day.”
The ESOP also strengthens Richard’s platform for growth. As an employee-owned company, Richard gains a financial and cultural structure that supports investment in its people, expansion into new markets, and development of leaders at every level. The company’s leadership structure, operating model, and day-to-day responsibilities remain unchanged.
