An Ohio-based architecture firm with offices in Indianapolis and West Lafayette has become an employee-owned company.
MKSK Inc. has completed a transition of its ownership structure to an Employee Stock Ownership Plan.
The company says the move will help provide for long-term ownership and organizational stability by keeping its talent pool in place.
“The move to an ESOP will only enhance the creative design and planning leadership of MKSK,” said Brian Kinzelman, chief executive officer of MKSK. The company says he will retain his post, as well as other members of the current leadership team.
Kinzelman says the company’s committed to attracting, developing and retaining the best talent in the fields of design and architecture.
“This ownership structure provides for the long-term stability of this group of colleagues, continuation of the practice past the founding generation and increased service to our clients,” said Kinzelman.
Through the ESOP, employees will earn shares in the business while working for the company. The ESOP benefit is funded entirely by company contributions and requires no out-of-pocket investment by employees. Ownership of the company is held in an ESOP Trust.
The company employs 100 people in five states, including Indiana.