STERLING, VA--Avitecture’s Employee Stock Ownership Plan (ESOP) has acquired a 100 percent stake in the 30-year old audio-video systems company. Sidney L. Lissner, the company’s founder, will remain active in the business and serve as chairman of the board.
“I can think of no better people than my coworkers to own Avitecture Whatever success I have enjoyed in business is due, in no small part, to your accomplishments. The immediate reward for each of you is a great job in a great company that you own, plus a superb wealth-building retirement plan,” Lissner told the company’s employee-owners at a recent meeting to announce the transaction.
“I’ve long desired that the employees would acquire the company and am immensely gratified to transfer ownership to the ESOP. Every Avitecture employee will have a direct stake in the equity and growth of this company,” said Lissner.
“By being employee-owned, Avitecture is much better positioned to continue its growth,” said Greg Boyd, the company’s president. “We value our company’s outstanding reputation and all of us employee-owners will work to ensure that our clients enjoy the best design, installation, service and support.”