MICEO: February 2025 Newsletter

MICEO Takes a Closer Look at Besser Company The Michigan Center for Employee Ownership had the privilege of exploring the remarkable success story of Besser Company. From its humble beginnings in Alpena, MI, Besser has grown into a global powerhouse, with operations and influence reaching across the world. At the heart of their impressive expansion is a deep commitment to employee ownership, (a value they proudly live by every day) driving their culture and success at every level. Take a look inside Besser Company and learn more about their story. Take a Look at Besser Company The Power of Employee Ownership Besser Company and the communities they serve in have undergone an extraordinary transformation since transitioning to employee ownership through its Employee Stock Ownership Plan (ESOP). What began as a small company in a rural area has grown into a globally recognized leader in the concrete products industry, shipping products worldwide. This remarkable growth is a direct result of the cultural shift brought about by employee ownership, which has instilled a shared sense of purpose and accountability among the companies over 450 employees worldwide. Every team member now has a personal stake in Besser’s success. This collaboration has fueled innovation, team building and an unwavering commitment to excellence since becoming an ESOP in 2004. Preserving Legacy Through Employee Ownership The decision to transition to an ESOP came when the Besser/Park family decided to retire. Wanting to preserve the company's legacy, family-owned atmosphere, and unique culture, they established the ESOP to ensure that employees could shape the future of the company while honoring its roots. Read more on their transition to becoming Employee Owned . Empowering Employees, Expanding Worldwide Today, Besser is a 100% employee-owned company and has several key locations across North America. Besser’s growth and employee ownership have fostered a culture of collaboration, empowering employees to engage deeply with company operations and pursue long-term objectives with enthusiasm. As a result, Besser continues to deliver exceptional products and services, expanding its reach beyond the U.S. and growing its influence on the global stage. Celebrating 120 Years: Besser’s Success for Employees and the Alpena Community " As the company expands, employees are more involved in community initiatives like food drives and charity work, while Besser’s increased success allows for larger donations to local organizations. Additionally, the company’s growth has created more job opportunities, contributing to the local economy and offering stability for residents. Through these efforts, Besser has become a key partner in the ongoing development and well-being of Alpena." As Besser thrives, it has made a significant positive impact on the communities they serve. Creating job opportunities, providing economic stability, and encouraging employees to actively participate in local events and charitable causes. Besser has become a cornerstone of Alpena's continued development, demonstrating that a company’s success can have far-reaching benefits both locally and globally. Besser Manufacturing carries employee ownership as a core value, watch as they celebrate 120 years. A special thanks to Amanda Oliver as Besser's Communication's Specialist for this collaboration! If you want to hear more about the interview with Besser, please contact Katie at katie@miceo.org to learn more! More information on Besser: Besser Manufacturing Employee Owned 801 Johnson Street Alpena, Michigan 49707 +1.989.354.4111 or 1.800.968.0444 Facebook LinkedIn Youtube Instagram

A Capital Readiness Initiative

Ready to take your business to the next level? Join us for a 4-part webinar series kicking off with the Michigan Center for Employee Ownership. We’ll dive into critical topics like securing capital funding, getting your business prepared for growth, and leveraging employee ownership. Each session will offer expert guidance and practical takeaways to empower your business. Look out for upcoming sessions from Peoples First Economy, the Center for Community-Based Enterprise, and the Detroit Common Wealth Fund for continued learning and growth. Follow the link below to our Eventbrite page to register for this webinar series!

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