Kovach President Brad Wright stands in front of more than 250 Kovach team members after announcing Nov. 7 that the company was now 100% employee-owned.
Courtesy of Kovach
Kovach Enclosure Systems of Chandler unveiled its transition Nov. 7 into an employee-owned company.
The transition occurred through the establishment of an employee stock ownership plan, or ESOP. This development was celebrated during an all-company event at SoHo63 in Downtown Chandler, marking a new chapter in Kovach’s 54-year history, according to a news release.
Kovach’s announcement was commemorated by Arizona Gov. Katie Hobbs by designating Nov. 7 2024 as “Arizona ESOP Day” in an official declaration signed by Gov. Hobbs and Arizona Secretary of State Adrian Fontes in celebration of this announcement for the East Valley construction employer.
You must be a member to read this story.
Join our family of readers for as little as $1 per month and support local, unbiased journalism.
Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.
For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
VALLEY BUSINESS
Chandler company becomes employee-owned
Courtesy of Kovach
Kovach President Brad Wright stands in front of more than 250 Kovach team members after announcing Nov. 7 that the company was now 100% employee-owned.
Kovach Enclosure Systems of Chandler unveiled its transition Nov. 7 into an employee-owned company.
The transition occurred through the establishment of an employee stock ownership plan, or ESOP. This development was celebrated during an all-company event at SoHo63 in Downtown Chandler, marking a new chapter in Kovach’s 54-year history, according to a news release.
Kovach’s announcement was commemorated by Arizona Gov. Katie Hobbs by designating Nov. 7 2024 as “Arizona ESOP Day” in an official declaration signed by Gov. Hobbs and Arizona Secretary of State Adrian Fontes in celebration of this announcement for the East Valley construction employer.
The declaration states, in part, “The State of Arizona recognizes the value of ESOPs in creating sustainable business practices and promoting equitable economic opportunities for its residents; and will acknowledge the contributions of ESOP companies, their employees, and the positive influence of employee ownership on the state’s economic landscape.”
With more than 310 employees and a presence across eight states, Kovach specializes in intricate building facades.
Headquartered in Chandler, it has expanded its manufacturing capabilities to 125,000 square feet.
The transition to an ESOP won’t change the company’s various local initiatives and relationships with nonprofit organizations, the release states. These include partnering with organizations like ICAN AZ and the American Red Cross.
“I am thrilled to announce that Kovach Enclosure Systems is now a 100% Employee Stock Ownership Plan — an ESOP company.” Kovach president Brad Wright said at the Nov. 7 event. “It means that from this day forward, each of you will be more than just an employee. You are now an owner of this company.”
Founded in 1970, Kovach is an integrated designer, manufacturer, and installer of high-quality panel and glazing systems for commercial building enclosures.
Kovach’s internal Employee Advisory Committee meets regularly to encourage open communication and gather feedback on company culture.
We invite our readers to submit their civil comments on this topic. Email AZOpinions@iniusa.org.
