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Seretta Construction Goes From Family-Owned to 100% Employee-Owned

Seretta Construction announced that they have transferred the Company’s ownership to an ESOP. An ESOP is an employee benefit plan that gives employees ownership interests in the company in the form of stock shares. Founded in 1987 by Richard J. McPherson, PE, and in its 38th year of business, Seretta is now 100% employee-owned. 

Seretta President, Andrew S. McPherson states, “Our strong management team, dedicated employees, and demand for quality are what make Seretta the great Company that it is. As we enter a transitional phase, I wanted Seretta‘s employee culture, reputation, values, high quality of work, and the way we care about our team members to remain strong without any outside interference. I did not believe this could be accomplished if I sold to an outside entity. As an ESOP, we can continue operating at the same high-quality level we have been for almost forty years without causing interruptions for our employees or business partners. Transitioning Seretta to an ESOP demonstrates my firm belief in the strength of Seretta and its team members. My family and I are thrilled with this decision and congratulate the new employee-owners!”

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TILT-UP TODAY, a publication of the Tilt-Up Concrete Association, is THE source for Tilt-Up industry news, market intelligence, business strategies, technical solutions, product information, and other resources for professionals in the Tilt-Up industry. A subscription to TILT-UP TODAY is included in a TCA membership. Subscriptions for potential TCA members are also available. If you would like to receive a complimentary subscription to the publication, please contact the TCA.