Camelot Homes transitions to 100% employee ownership
(Camelot Homes)
Camelot Homes is now 100% employee owned.
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INDEPENDENT NEWSMEDIA
Scottsdale-based home builder Camelot Homes is now 100% employee-owned through an Employee Stock Ownership Plan.
Owners Julie and Mark Hancock surprised the team at a recent copmany meeting and revealed an onwership transition for the 56-year-old company, according to a press release. The ESOP is a qualified retirement plan that allows employees to gain ownershp of the company through a trust that holds the company’s stock.
Team members will be able to build retirement wealth based on the company’s performance, according to the release.
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