{"id":228151,"date":"2026-03-27T09:21:00","date_gmt":"2026-03-27T13:21:00","guid":{"rendered":"https:\/\/news-you-need.com\/index.php\/2026\/03\/27\/progressive-components-moves-to-100-employee-ownership\/"},"modified":"2026-03-27T09:25:09","modified_gmt":"2026-03-27T13:25:09","slug":"progressive-components-moves-to-100-employee-ownership","status":"publish","type":"post","link":"https:\/\/news-you-need.com\/index.php\/2026\/03\/27\/progressive-components-moves-to-100-employee-ownership\/","title":{"rendered":"Progressive Components Moves to 100% Employee Ownership"},"content":{"rendered":"

Progressive Components Moves to 100% Employee Ownership<\/a><\/p>\n

https:\/\/www.ptonline.com\/news\/progressive-components-moves-to-100-employee-ownership<\/a><\/p>\n

Publish Date: 2026-03-27 09:21:00<\/a><\/p>\n

Source Domain: www.ptonline.com<\/a><\/p>\n

Progressive Components (Wauconda, Illinois), an injection molding technology and component supplier,\u00a0has transitioned to 100% employee ownership through the establishment of an Employee Stock Ownership Plan (ESOP).<\/p>\n

Progressive employs 65 team members worldwide, and the ESOP transaction ensures that the company remains American-owned and independently operated while creating a meaningful ownership opportunity for employees, according to an\u00a0announcement.<\/p>\n

Source: Progressive Components<\/p>\n

\u201cThis transition is about legacy, stability\u00a0and rewarding the people who are building this company,\u201d said Chairman Don Starkey. \u201cBecoming an ESOP allows employees to directly share in the value they help create every day.\u201d<\/p>\n

What Is an ESOP?<\/h3>\n

Under the ESOP structure, employees receive company shares through a retirement trust at no upfront cost. Over time, employees accumulate ownership in the company as a benefit of their employment.\u00a0ESOPs are the\u00a0most common form of employee ownership by far in the U.S.,\u00a0according to\u00a0National Center for Employee Ownership (NCEO). About 6,411 companies\u00a0have an ESOP, and\u00a0NCEO estimates an average of 270 more ESOPs are created every year.\u00a0Private and public manufacturing companies make up 20.1% of all ESOPs, the most of any\u00a0industry.<\/p>\n

\u201cWe\u2019ve worked for decades to provide a positive impact on our industry, our customers\u00a0and our team members,\u201d said\u00a0Glenn Starkey, president. \u201cIt\u2019s now gratifying to envision that impact continuing on for the next chapters ahead.\u201d<\/p>\n

Both Starkey executives remain in their roles, as leadership and daily operations will remain unchanged, according to the company, which also was recently recognized as a\u00a0\u201cBest Place\u00a0to Work.\u201d\u00a0<\/p>\n

Progressive Components\u2019 has hub locations in North America, Asia\u00a0and Europe, with a growing number of wholly owned Regional Service Centers.\u00a0<\/p>\n

…
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Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Progressive Components Moves to 100% Employee Ownership https:\/\/www.ptonline.com\/news\/progressive-components-moves-to-100-employee-ownership Publish Date: 2026-03-27 09:21:00 Source Domain: www.ptonline.com…<\/p>\n","protected":false},"author":1,"featured_media":228152,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/d2n4wb9orp1vta.cloudfront.net\/cms\/brand\/PT\/2026-PT\/0526pt-starting-up-progressive-components.jpg;maxWidth=1200","fifu_image_alt":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-228151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/228151"}],"collection":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=228151"}],"version-history":[{"count":1,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/228151\/revisions"}],"predecessor-version":[{"id":228153,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/228151\/revisions\/228153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/228152"}],"wp:attachment":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=228151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=228151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=228151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}