Tri Wire Engineering Solutions, Inc., a national leading broadband service installation company for the telecom industry, recently announced that as of Jan 1st 2017, 100 percent of the company’s common stock has been transferred to the employees through an Employee Stock Ownership Program (ESOP), making Tri Wire one of the largest broadband service companies completely owned by its employees.
“We are a proud service based organization, our product is our people. As we look to the future, it only makes sense that the next generation of ownership should be the very employees that make it happen every day.” said John Wade, Founder and CEO.
The Company has no plans to change the executive team nor the management structure. John Wade will remain Chairman and CEO.
“We have a very clear objective to grow the business and continue to provide the highest level of customer service that our Clients have come to expect. Our new “employee owners” understand this better than anyone else so an ESOP is the logical choice. It will allow us to bring that ownership mentality directly to every installation we service.”
Tri Wire currently has 900+ employees situated across twelve states, in major metropolitan areas such as Phoenix, Memphis, Baltimore, Philadelphia, New York and New England. The company, which designs, and installs commercial and residential broadband services was founded in Boston in 1999.
The Company was advised in this transaction by BellMark Partners LLC of Boston, SES ESOP Advisors, and JP Morgan Commercial Bank.