Fostoria, Ohio—Roppe Holding Company (RHC) has become a 100% employee-owned company through an Employee Stock Ownership Plan (ESOP). The move shifts RHC from family ownership to employee ownership while giving employees a direct stake in the company’s future.
RHC’s family of brands includes Roppe, Flexco, Seneca Millwork, ATECO, Six Degrees, RHC Logistics, Tuflex Sports Surfaces and TCB Holdings, Inc. The company primarily offers luxury and durable flooring solutions.
“Our brands are known for consistency, expertise and delivering on promises,” said Norman Freebeck, president of Roppe Holding Company. “We are recognized year over year for consistently delivering quality products to our industry partners. This reputation would not be possible without the hard work and dedication of our long-term employees. Transitioning to employee ownership helps ensure that the individuals moving this company forward now have a direct stake in its future.”
Moreover, the transition builds on decades of family ownership and reinforces the company’s commitment to stability, independence and people-driven success.
Freebeck will continue to lead RHC’s executive team. The company will also remain focused on quality, service, strong partnerships and long-term sustainability.
The benefits
The ESOP structure allows RHC to remain privately held and locally rooted. The company will also continue operating as it has in the past.
“This change enables us to keep doing what we do best—serving customers, delivering quality products and running a values-driven business,” added Freebeck.
An ESOP is a retirement plan funded entirely by the company and invested in company stock. Employees receive individual ESOP accounts through the plan. Those accounts can grow as the company adds stock and the business performs well.
“The ESOP helps create a meaningful connection between our employees’ efforts and RHC’s long-term success,” Freeback added. “When the company grows and thrives, our employees share in that success financially through the ESOP.”
RHC said employee ownership reflects a mindset that has guided the company for generations: building things to last.
“Becoming employee-owned is a pivotal moment for us,” said Seth Brickner, chief operating officer. “It’s a testament to the strength we’ve built over more than 70 years. This structure allows us to reward our people and reinforce accountability. It’s not something many companies offer and we’re excited about what it means for our future as we move forward together.”