100% Employee Owned Company
Industry Leading Industrial Fan and Blower Manufacturer
- AirPro Fan & Blower Completes Sale To Employee Stock Ownership Plan (ESOP)
The founders of AirPro have always maintained that they did not start the company as a way to “get rich.” Instead, they started it so they could apply their expertise in the interest of creating good jobs for their community and good products for customers. From that perspective, an Employee Stock Ownership Plan (ESOP) was a natural step.
The primary catalyst for employee ownership came in 2016 after a number of buyout offers required the founders to consider all their options. Rather than sell and risk taking the business out of its home in Rhinelander, Wisconsin, they opted to transfer 100% ownership of the company to its employees via an ESOP.
Providing employees with an ownership stake in the company is both a strategic and cultural move. According to The Employee Ownership Foundation’s 24th Annual ESOP Economic Performance Survey, the majority of ESOP companies showed increases in productivity, revenue, stock value, and profitability - all of which benefit employees, which is a classic virtuous cycle.
"Our ESOP model and consistent growth without significant turnover mean our retention rate is very high, yet we stay busy recruiting on a constant basis," explains AirPro President Keith White Jr. "We draw the best and brightest engineers, welders, machinists, and more from within the Northwoods region and beyond."
About AirPro Fan & Blower Company
Founded in 2002, AirPro Fan & Blower Company is an industry-leading fan and blower manufacturer offering a complete line of industrial-duty centrifugal fans, blowers, and accessories. The company’s products are developed and designed utilizing the latest computer modeling software, built by AWS qualified fabricators, tested and rated according to AMCA 210 standards, balanced to ISO standards, and thoroughly inspected throughout production. AirPro offers both pre-engineered and custom-designed products, including backward inclined fans, backward curved fans, radial tipped fans, material handling fans, high-pressure blowers, and other centrifugal fans and blowers.