At Martin Painting & Coating, we believe our employees are our greatest asset. That's why we are proud to be an Employee Stock Ownership Plan (ESOP) company. Through our ESOP, every member of our team becomes an owner, sharing in the success and growth of the business.

When a business shifts from “employees” to “owners,” something transformative happens, not just to its balance sheet, but to its culture, performance, and identity. At Martin Painting & Coating, that shift is more than symbolic: it’s central to who we are. This blog, will highlight why we embraced the ESOP (Employee Stock Ownership Plan) model, how it’s changing things from the inside, and what it means for our people, our customers, and our future.

What is an ESOP?

An Employee Stock Ownership Plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company in the form of shares of stock. It's a qualified retirement plan that aligns the interests of employees with those of shareholders, encouraging employees to contribute to the company's success.

The Benefits of Being an ESOP Company

Transitioning to an ESOP structure has brought numerous advantages to Martin Painting & Coating:

• Employee Empowerment: Every team member becomes an owner, fostering a sense of pride and responsibility.

• Enhanced Productivity: Employees are more motivated, leading to increased productivity and improved service quality.

• Business Continuity: The ESOP structure ensures that our leadership and management team continue to lead the company, maintaining stability and continuity.

• Retirement Benefits: Employees gain a valuable retirement benefit, as their shares in the company can grow over time.

The Roots: Who We Are & Why Ownership Matters

A Legacy of Craftsmanship & Family Values Since 1953, Martin Painting & Coating has built a reputation across the Midwest for quality, reliability, and integrity. Over three generations, we’ve expanded our capabilities, commercial painting, industrial coatings, in-shop components, structural steel, and more. But alongside growth, we never wanted to lose the human touch: respect, accountability, teamwork.

What It Means to Be Employee-Owned By becoming an ESOP company, Martin Painting & Coating made a meaningful commitment: every team member on payroll is an owner. Ownership allows our people to share in the company’s success while contributing directly to its continued growth. For us, the ESOP isn’t just a benefit; it’s a structure that aligns everyone’s efforts toward long-term success.

The Transition: From “Them & Us” to “We”

Transitioning to an ESOP takes time, not only to establish the plan but to help people truly see and feel the change happening. The process involves education, communication, and continuous reinforcement of what it means to be an employee-owner.

Some key steps that helped us on this journey include:

1. Clear communication & education Before implementing the ESOP, we invested time to help everyone understand what employee ownership means, how stock value is built, how performance drives results, and how individual contributions make an impact.
2. Embedding shared values Our core values — Respect, Integrity, Teamwork, and Effort (RITE) guide everything we do. As ownership takes root, these values become even more important, strengthening our sense of accountability and shared purpose.
3. Reinforcing through systems & practices Ownership is reinforced through consistent systems and daily operations that reflect our shared goals and values.

The Impact: What’s Changing from Within

Since becoming an employee-owned company, Martin Painting & Coating has seen steady growth in engagement, collaboration, and accountability.

1. Stronger ownership mindset & accountability

When each team member becomes an owner, their perspective naturally shifts. Work isn’t just about completing tasks; it’s about contributing to something shared and lasting. Ownership fosters greater pride in performance and a sense of responsibility for results.

2. Better engagement & retention

When employees understand that their contributions directly impact company performance, they tend to stay longer, grow within the organization, and invest more fully in their work.

3. Commitment to quality and safety

With ownership comes a stronger sense of responsibility for the quality of our work and the safety of our people. Martin Painting & Coating has dedicated safety staff, held regular safety meetings, and provided ongoing training to ensure our teams return home safely every day.

4. Stability and resilience

Employee ownership fosters long-term thinking. It supports steady decision-making and a stronger, more unified company culture built to withstand change and challenges.

Looking Ahead: What We Aim For

As we continue to grow as an ESOP company, Martin Painting & Coating is focused on building a deeper understanding of how ownership creates opportunity, for individuals, for teams, and for the company as a whole.

• Deepening financial literacy and retirement savings We’re committed to helping our employee-owners understand not just how the ESOP works, but how ownership contributes to their long-term financial stability and retirement goals.
• Encouraging innovation and diversification We’re creating space for our teams to pilot new initiatives, explore more efficient ways of working, and improve how we serve our customers.
• Strengthening community and trust As an employee-owned company, we’re proud to demonstrate that shared ownership drives accountability, consistency, and a higher standard of service for our clients.

Becoming an ESOP company represents more than a change in structure, it’s a long-term commitment to empowering our people and strengthening our culture. At Martin Painting & Coating, every employee-owner plays a vital role in shaping our success, ensuring that our company’s legacy of craftsmanship and teamwork continues well into the future.