Legend Valve Becomes
Valve has announced that it has completed the sale of the
company to an Employee Stock Ownership Plan (ESOP). This strategic
move reflects Legend’s commitment to its employees and the belief in
shared ownership as a critical driver of long-term success.
Legend Valve & Fitting Inc. Announces Sale to Employee Stock
Option Plan (ESOP)
The ESOP transaction was officially closed on November 14, 2023,
making Legend Valve & Fitting Inc. an employee-owned company. This
decision was driven by the desire to align the employees’ interests
with the business’s overall success, fostering a sense of shared
responsibility and collaboration.
Employee ownership complements Legend’s mission, core values,
and unwavering focus on astonishing customer service. As owners,
Legend Valve & Fitting’s employees will have the rare opportunity to
share in the success of the company beyond essential employment.
That means each employee-owner will have an even stronger commitment
to serving their customers.
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David Hickman, President/CEO, and Walter Jann,
Executive VP, expressed enthusiasm about the transition,
stating, “After 35 years of leading Legend, we sought to
transition to a long-term ownership strategy and sustain
continuity of our business.”
As part of their announcement, Legend Valve stated, “We are
excited about this critical development in our business.
Employee ownership ensures that we will remain an
independent, locally operated company. The values that have
allowed us to prosper for more than three decades,
Downstream Thinking®, will continue unchanged, and the
mission that drives our efforts will remain steadfast,
allowing us to make a positive impact now and in the
Legend will continue to operate under its existing
management team, with David Hickman and Walter Jann leading
the way. The company’s day-to-day operations, commitment to
innovation, and dedication to delivering exceptional service
will remain unchanged.
The ESOP transition marks an important milestone for Legend
and its employees. The leadership team is confident that
this strategic move will enhance the company’s
competitiveness, drive sustained growth, and create
long-term value for all stakeholders.