Knowles Industrial Services Corp., a specialty contractor based in Gorham, became an employee-owned enterprise last month.
The company’s 78 employees now own stock in it, according to a statement from President Dan Maloney.
“Now everyone has a vested interest in the company’s success,” Maloney said. “Construction is a people business. We all use the same tools, materials and equipment. The best firms employ the best people and we intend to remain among the best.”
Leadership and operations are expected to remain the same. The company, which specializes in concrete and masonry work, was founded in 1924.
Several other construction firms recently adopted employee stock ownership plans, including Portland’s Wright-Ryan Construction, Scarborough’s Landry/French Construction Co. and Freeport’s Warren Construction Group.
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