Boldt family to create Employee Stock Ownership Program

Freeman Staff

Oct. 19, 2015

APPLETON — After more than 125 years of doing business, family owned The Boldt Company announced it will create an Employee Stock Ownership Program.

According to a Monday announcement, The Boldt Company believes offering stock to employees will help it prepare for growing opportunities in its business while creating a strong commitment to its employees and customers. The decision to create an ESOP was made by The Boldt Group, Inc. Board Chairman Oscar C. Boldt, Chief executive Officer Tom Boldt and President and Chief Operating Officer Bob DeKoch.

“Passing ownership of the company to our employees will help Boldt continue to be a construction leader,” said Oscar Boldt in a statement. “Our culture, based on honesty, fairness, performance, hard work and a love of construction, will be perpetuated by the remarkable men and women of The Boldt Company. We felt that if we sold Boldt to another company, like many companies do, our values and culture would be lost forever.  Creating employee ownership means we will preserve what we have built over 125 years. The Boldt Company will live on and continue to do exceptional work.”

Eligible employees will participate in the ESOP and will receive employer contributions to their ESOP, which will take place over time. The company expects the Boldt family to remain solidly involved and will retain 30 percent of the stock. Eventually employees will own up to 70 percent of the company.

The Boldt Company is headquartered in Appleton and has an office in Waukesha.