Santa Rosa-based engineering contractors Ghilotti Construction announced this week that the company is now 100% employee owned.
Ghilotti shareholders transferred all shares to an Employee Stock Ownership Plan (ESOP), the company announced in a press release. “This new structure of employee ownership will ensure the company’s ability to maintain the Ghilotti legacy and preserve its strong family culture,” the release said.
CEO Richard Ghilotti and company President Brian Ongaro said in a shared statement they wanted to put in place an ownership structure that “allows Ghilotti to continue to grow, serve their customers, support communities and remain competitive far into the future.”
“We are excited to transition ownership to our employees who are best positioned for the future success of Ghilotti Construction Company,” Richard Ghilotti said.
No change in management structure will take place with the new employee-owned company, Ghilotti officials said.
