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
