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Stephenson Equipment announces employee stock ownership plan

By Brock Huffstutler

April 30, 2023

Stephenson EquipmentStephenson Equipment (SEI) Harrisburg, Pa., has implemented an employee stock ownership plan (ESOP). The ESOP has been offered as an additional benefit for employees throughout SEI’s footprint in Pennsylvania, New York and Maryland. 

“Adding an ESOP benefit plan for our employees will have a profoundly positive effect. Our employees support our customers and they are the most important part of Stephenson Equipment. The new ESOP plan will allow our employees to participate and contribute meaningfully to the next chapter of growth in our history. In turn, they will enjoy the rewards of that growth with a very impactful new retirement benefit,” said Charlie Walsh, SEI president. 

“SEI’s new ESOP plan will also have a positive impact on our customers and communities through a greater desire to be successful, curate solutions, strengthen relationships and attain new goals together,” Walsh said. “The ESOP will aid in creating an ongoing positive company culture, foster a collaborative work environment, and motivate employees to provide the best customer service through work ethic, honesty, and doing what’s right — SEI’s core values.” 

Founded in 1957, SEI is an equipment distributor for cranes, construction equipment and public works equipment in the Northeast and Mid-Atlantic, operating nine locations in Pennsylvania and New York with an additional service center in Maryland.