Tech Systems Will Extend Ownership to Its Employees
Tech Systems Inc. (TSI), plans to transition ownership to its workers by implementing an Employee Stock Ownership Plan.
DULUTH, Ga. â€• Tech Systems Inc. (TSI) announces its imminent transition from a privately held, single-owner corporation to an Employee Stock Ownership Plan (ESOP) that will ultimately transfer full ownership of the leading systems integration firm to its employees.
Founded in 1987 and a 2014 SSI Installer of the Year Runner-up, Tech Systems is known for its FOCUS (For Our Clients’ Ultimate Satisfaction) support services program providing professional/managed services, preventative/predictive maintenance that guarantee response times and 100% system functionality, and unlimited training to its clients.
“FOCUS is more than a service offering, it’s our culture and business philosophy,” explains Darryl Keeler, current owner and president of TSI. “When considering my future exit strategy very few options bode well for the two greatest assets that have built this company, our employees and our clients. The only way FOCUS can remain intact is if the company’s purpose continues to be based on client satisfaction. Those factors made the decision to form an ESOP quite easy for me. Additionally, the ESOP will allow me the opportunity to transition slowly into retirement over the next 10 to 15 years ensuring that the long-term integrity of both FOCUS and Tech Systems remains completely intact.”
TSI’s announcement flies in the face of the consolidation trend that has seen several integration firms sold to public companies or private equity groups.
“Selling Tech Systems to a public company or private equity group would not benefit the employees or the clients,” adds Keeler. “Publicly traded companies are driven by bottom-line profits to provide a return to shareholders while private equity groups have a more short-term strategy to expand and sell their investment for financial gain. Neither of these scenarios are conducive to providing FOCUS or protecting our clients’ credibility. The culture we’ve all worked tirelessly to develop over the years simply could not survive one of these models.”
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