Blog Tag: ESOP

In 2021, Symbiont Service Corp became 100% employee owned by transitioning to an ESOP (Employee Stock Ownership Plan). Just over one year later, we are still excited, and the company is flourishing!

Reflecting on Symbiont Service’s Journey to 100% Employee Ownership

Leading up to the anniversary of the big ESOP announcement, Sandy King, President of Symbiont Service Corp, sat down with Phillip Hayes to be interviewed for his podcast, Journey to an ESOP. Phillip, known as The ESOP guy, played an advisory role throughout Symbiont’s ESOP process.

Read More

We explain some of the benefits of employee ownership through ESOPs.

Recently, we made a blog post about employee ownership through stock options. We believe ESOPs are the way forward for our company, so today we’ll dive deeper into the topic. There’s a lot to go over, but by the end of the video, you should understand the basics of what ESOPs do to help a company and its employees.

Read More

Here’s what you need to know about our decision to introduce ESOPs.

Recently, we hosted a presentation all about ESOPs. Employee stock options are crucial so that we all share in our company’s success. Michael Miller, the Trustee of our ESOPs, stopped by to explain how they work and benefit you. 

Read More

Sandy King, President of Symbiont Service Corporation, received a state proclamation from Melanie S. Griffin (Secretary, Florida Department of Business & Professional Regulation).

Melanie and her staff personally delivered the Proclamation and honored Sandy during a visit to the SSC Englewood Headquarters, Monday July 18th. During the visit from state officials Sandy gave them a tour of our facility and a brief presentation about SSC accomplishments that her and its employees have performed over the years.

Read More

Watch some highlights of Sandy’s speech from our end-of-year party.

Today we wanted to share part of our end-of-year party. Sandy King, our CEO, recapped our year and made an exciting announcement. You can watch some highlights of her speech in the video above.

We wanted to celebrate Symbiont Service Corp’s fantastic year. The hard work and dedication of our employees have made this company flourish. In 2019, we earned $9.4 million in revenue. That number dropped significantly in 2020, but we continued to survive COVID. This year, we exceeded $13 million in revenue, which marks our hottest year ever. It’s all thanks to everyone at Symbiont.

This company was founded in the early ’80s by Roy and Karen King, Sandy’s parents. Since then, ownership has been passed down to her. However, Sandy has found a new successor. We’re excited to announce that, from this point forward, we will be an employee-owned business. Our Symbiont Service employees will be our new owners through our ESOP plan.

A Business Observer article by contributor Beth Luberecki, published on March 23, 2022, revealed more about Sandy’s motivation for her decision to transition to an employee stock ownership plan (ESOP). “To walk away after 26 years with Symbiont without making sure the employees are taken care of would be counterintuitive to my business philosophy,” Sandy told Ms. Luberecki in the interview. “I recognized that the strength of the company is its employees, and I wanted to do right by them. I didn’t want to have a succession plan that only took care of me. I wanted it to be symbiotic and take care of the employees too.”

We hope you’re as excited by this news as we were. As always, if you have any questions about our products or are looking to have a GeoThermal pool heating or air conditioning unit installed, feel free to call or email us. We would love to hear from you.

Open Post