Western Lighting and Energy Controls Becomes Employee-Owned Through Employee Stock Ownership Plan

Western Lighting and Energy Controls Becomes Employee-Owned Through Employee Stock Ownership Plan

 

 

SAN DIEGO, CA – Western Lighting and Energy Controls, one of the leading Southern California Representative agencies, announced today that it’s now an employee-owned company through an Employee Stock Ownership Plan (ESOP) Trust. The news was officially unveiled during the company annual sales meeting to reward our employees further for their hard work throughout 2018.

As an employee-owned company, Western Lighting and Energy Controls will continue to operate under the same business model and management structure.

Over two decades, Matt Sedlock has grown the Western Lighting and Energy Controls company from two employees and a small sales agency servicing the San Diego lighting community to a team of more than fifty lighting professionals and became one of the most reliable agencies in Southern California.

Commenting on the announcement, Matt Sedlock, Principal of Western Lighting and Energy Controls, said “This transaction will give our dedicated employees a financial interest in the success of our company, making the positive bonds between our teams even stronger than they are today. It represents a very tangible way to reward those who have played an important part in our company success. Delivering unparalleled service requires great employees who are passionate about their work, focused and dedicated to our business and customers. Also, this is the Western Lighting and Energy Controls difference.”

An ESOP is an employee benefit plan, which provides company stock to employees as part of their retirement benefit plan. By becoming ESOP-owned, all company stock is now held in trust by the ESOP.

“This is an exciting day for Western Lighting and Energy Controls, a milestone that ensures the unmatched culture and business model that Matt and I pioneered and will be upheld by the next generation,” said Jimm Reifsnyder, Principal of Western Lighting and Energy Controls. “For our valued clients, it means we will continue to offer the best products, services, and support, fiercely committed to proactively helping businesses to grow and meet their customers need.”

To learn more about Western Lighting and Energy Controls, visit: www.westernlightingandenergycontrols.com.

 

 

 

 

 

January 7, 2019
Filed in: Pacific
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