April 21, 2017

Winooski contractor transfers ownership to employees

WINOOSKI — VHV Company is proud to announce the establishment of an employee stock ownership plan that effectively transfers ownership of the company to all employees.

David Brown, president of VHV Company, a mechanical HVAC contractor, sold his ownership interest to the newly created employee ownership trust, allowing employees to gain the benefit of ownership without any personal investment.

Commenting on the announcement, Brown said “This transaction will give employees a financial interest in the future success of the business. After 20 years of ownership, I decided it was time to sell all my stock to the people who I trust and value the most — the employees. People are the core of our business, and it is extremely important to reward them for their passion, loyalty, and most importantly, their competence. I’m excited to take our already strong culture to the next level by instilling an ownership mentality that connects employees’ everyday work to a higher purpose. I hope my grandfather, who started the business in 1949, is looking down and smiling.”

VHV Company employs more than 170 employees and is the leading full-service mechanical contractor in Vermont providing HVAC, plumbing and refrigeration services to the commercial, industrial and institutional markets.

 

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