Engineers Construction, Inc. ECI, a Vermont-based heavy civil construction company, has transitioned to 100% employee ownership through an Employee Stock Ownership Plan ESOP.
This move underscores the company’s commitment to its employees and community while eliminating the need for future ownership succession planning.
Kenneth Pidgeon, who co-owns ECI with his brother Scott, emphasized the importance of preserving the company culture and investing in employees who have contributed to its success.
Founded in 1965 by Alan Pidgeon, ECI has established itself as a leader in Vermont’s construction industry, employing over 200 people and completing a diverse range of projects, including bridges, tunnels, and ski resorts.
Ben Dow, a long-time engineer at ECI, will take on the role of President & CEO, bringing his extensive experience to further foster the company’s collaborative culture.
The ESOP allows employees to become shared owners over time, providing a more stable financial future and supporting retirement planning.
ECI has collaborated with the Vermont Employee Ownership Center VEOC since exploring employee ownership in 2019, finding valuable support and resources throughout the ESOP conversion process.