SAFE Boats International, a boatbuilder with backyards in Bremerton as well as Tacoma, Wash., revealed it finished a purchase that moves 100% of the firm’s possession to its staff members.
The SAFE Boats International Employee Stock Ownership Plan (ESOP) has actually gotten the firm, finishing the last turning point in a trip that began in late 2022. An ESOP is a worker retirement that permits staff members to have shares in business as well as take advantage of the shares’ development in worth gradually.
SAFE Boats, which creates as well as produces light weight aluminum boat varying in dimension from 21 to greater than 100 feet, was established in 1996 as well as currently has greater than 250 employee-owners in 2 places. It mainly constructs vessels for armed forces, police, initial -responder as well as industrial clients, having actually supplied greater than 2,500 watercrafts to clients in greater than 70 nations.
“It has always been our dream and our vision to make SAFE Boats International about our team and the community we live in,” stated firm founderScott Peterson “Transitioning to a 100% employee-owned company creates the foundation to become a true Northwest legacy. This allows an incredibly talented and dedicated SAFE Boats team to continue supporting the men and women in uniform around the world for generations to come.”
Richard Schwarz, CHIEF EXECUTIVE OFFICER, stated, “SAFE Boats’ success reflects the dedication and commitment of its team of talented craftspeople. Employee ownership through an ESOP is the ultimate opportunity for the company’s employee-owners to share in that success. In the end, it is our team that makes our company what it is, and it is only appropriate that they benefit from the results of their contributions.”