FORT COLLINS — Power and instrumentation automation company Automation-X Inc. is now a 100% employee-owned company.
The firm, at the end of 2022, implemented an employee stock ownership plan, or ESOP.
“Our talented employees set us apart at Auto-X,” Auto-X board chairman Dan Schultejann said in a prepared statement. “We want our employees to think and act like owners, which will directly benefit from Auto-X’s continued success.”
The ESOP model, company leaders expect, will “enable Auto-X to recruit new talent while retaining experienced and dedicated employees,” Auto-X said in a news release.
Auto-X has been operating for 20 years and has 14 locations across Colorado, New Mexico, North Dakota, Texas, Oklahoma, Louisiana, West Virginia and Pennsylvania.