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Parent Company of Glide-Line Announces Employee Stock Ownership Plan

Posted by Kevin Mauger | Wednesday, May 17, 2017

PARENT COMPANY OF GLIDE-LINE (NCC AUTOMATED SYSTEMS), ANNOUNCES THE FORMATION OF EMPLOYEE STOCK OWNERSHIP PLAN

Glide-Line is now Employee Owned!

Souderton, PA  May 5, 2017  The parent company of Glide-Line, NCC Automated Systems, announced today that the company has formed an ESOP (Employee Stock Ownership Plan). Glide-Line is the most flexible twin strand pallet based conveyor in the market, offering unparalleled flexible standard configurations along with the best deliveries in the business.

 

In the transaction, ownership sold a significant interest to a newly created Employee Stock Ownership Trust, allowing current and future employees to gain a beneficial ownership interest in the Company without any personal cash investment. Effectively, the ESOP is a qualified retirement plan which, based on company performance, could generate significant retirement benefits for NCC’s approximately 65 Employee Owners. Commenting on the announcement, Kevin Mauger, President and former ‘sole owner’ of NCC, said, “Our company is built on the positive culture and energy of our team creating an environment that supports a positive Customer Experience with the speed and agility required to compete in today’s market. The ESOP will give our employees a financial interest in the continued growth and success of the business, creating even more of a team effort and vested interest in supporting our customers than we have today. It represents a very tangible way to reward those who have played a critical role in our success. Delivering an unparalleled positive experience requires great employees who are focused and dedicated to the business at hand. That clearly describes our team, and we are thrilled to be able to provide this benefit to them. We want them to stay around forever and be rewarded accordingly for their efforts. We are not looking to be just another company, we have far greater goals and aspirations. We are reaching for the stars.” Mauger, who will continue in his current position for the foreseeable future, also noted: “In light of the challenges facing American workers, an ESOP is an excellent way in which to assure the continuation of our world-class team of valued employees and enhance our company’s productivity and profitability. We expect the ESOP to increase the retirement security of our Employee Owners, particularly if we continue on the growth path we have enjoyed the last several years.”

 

Jim Steiker, Chairman and CEO of SES Advisors and with more than 30 years of experience accomplishing ESOP transactions, said: “ESOP’s done well and for the right reasons, allow business owners both to do well and can be both an altruistic and humanitarian approach to a collective win-win business environment. Employee ownership can add an exclamation point to an already strong business and create an even more engaged culture. Employees potentially have strong financial rewards when they retire in exchange for their hard work and dedication throughout their careers. An ESOP appears to be a perfect fit for NCC and should result in extremely positive results for all involved. I was extremely impressed with Kevin from our first meeting–he is a poster child for the kind of servant leader that creates a great employee-owned company. He believes in his people and the team approach and using the ESOP to make a great company even better.”

About NCC & Glide-Line:

NCC Automated Systems is a 31-year-old integrator and manufacturer and is the owner of Glide-Line, the most flexible twin strand pallet based conveyors in the world, which we offer to integrators and OEM’s in the Assembly Automation industries. NCC has a 50,000 ft2 facility focused on conveyor manufacturing. Glide-Line is just a 3 year old brand, with tremendous growth and track record thus far.

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Topics: Reduce Conveyor Lead Time

Written by Kevin Mauger

Kevin Mauger started working for the parent company of Glide-Line the day after college and bought the company 12 years into his career when it was at an all-time low. The company has multiplied in volume 5X since and is growing at 20%+ year over year. In a Surprise Announcement in 2017, in a dream come true, he gave almost half of his company to his employees. Personally, his entire life is based upon spending time with his family, figuring out a way to get out deep sea fishing, and supporting his Philadelphia Eagles. His vision for Glide-Line is to make it the world’s most flexible multi-strand conveyor solution with tools for customers allowing instantaneous response and control of their own destiny along with the fastest deliveries in the industry.

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Glide-Line offers the most versatile multi-strand panel and pallet-handling solution available for the assembly automation industry.

We solve problems that other conveyor systems manufacturers won’t. We developed Glide-Line from the ground up with a few key, driving factors in mind. First, our conveyors had to be robust and reliable. Second, they would be simple – easy to maintain and service. Finally, we insisted on flexible configurability, creating an efficient, hassle-free customer experience. We’ve built the most versatile multi-strand panel and pallet-handling solution available for the assembly automation industry.

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