Sep. 6—Home Helpers Home Care of Somerset & London is pleased to announce it is now 100% employee-owned, with PCE Investment Bankers, Inc. (PCE) serving as the exclusive financial advisor that executed the transition to an Employee Stock Ownership Plan (ESOP).
An ESOP is a retirement plan that allows employees to become part-owners of their company. Wayne Gentry, founder of Home Helpers Home Care of Somerset & London, believes the ESOP will deepen his employees' connection to the company and ensure they are directly rewarded for their contributions.
"By becoming co-owners, employees will share in the company's success, creating a stronger, more resilient organizational culture that benefits everyone," Gentry said. "I also want to express my deep appreciation to PCE for their expert guidance and leadership throughout this transition. Their deep understanding of ESOP transactions was instrumental in making this a smooth and successful process."
Since the introduction of ESOPs in 1974, their popularity has grown, with approximately 6,700 ESOP-owned businesses in the United States employing 14 million workers.
"It was an honor to partner with the team at Home Helpers Home Care of Somerset & London on the ESOP transaction," stated Kyle Wishing of PCE. "Since its inception, Home Helpers has achieved rapid growth and significant milestones while caring for its community. By selling to an ESOP, the Gentry family has set up the company for long-term success. The company will continue to provide the highest standard of care, with its employees as the primary beneficiaries."
As the region's premiere home care provider, Home Helpers Home Care of Somerset & London is an award-winning franchise, distinguished by its exemplary performance and innovative approach to enhancing client journeys in the home care sector.
Gentry has been recognized nationally as the franchise network's "Brand Champion" and "CEO of the Year" for the agency's financial performance, operational improvements, local community involvement, and tutelage of other franchisees. The ESOP will safeguard the company's legacy of delivering superior care and maintain its position as a leader in the industry. There will be no changes to the company's management structure.
For more information about Home Helpers Home Care of Somerset & London, visit www.HomeHelpersHomeCare.com/London-KY/.
— Courtesy Home Helpers Home Care