Episode 238: Transitioning to an ESOP, Part 1

Bret Keisling is joined by Justin Van Etten, Executive Chairman of Stewart's Ambulance Service [www.stewartsambulance.com], which is on path to becoming an ESOP. They discussed the transition process, the right time to share information with team members, how to manage expectations of management and rank and file, and why ambulance services are an amazing fit for employee ownership. In early 2022, Stewart's announced plans to transition to an ESOP, making it one of the few ambulance companies in the country to become employee owned. They enacted the ESOP plan documents effective January 2023. The company has not yet determined a timeline for the ESOP transaction to take place. Stewart's Ambulance Service is a leader in the industry and has provided quality 911 and intra-facility medical transportation in the state of New Hampshire for over forty-one years. they're currently doing 50,000 transports a year, making them the largest ambulance service in New Hampshire and in Maine. Further show notes are available on our website at https://www.theesoppodcast.com/post/238-transitioning-to-an-esop-part-1