Coated Metals Group Is Now Employee-Owned
Madison, WI - Coated Metals Group (CMG) announces that the company is now 100% employee-owned through an Employee Stock Ownership Plan (ESOP).
Founded in 1983, CMG began as a family-owned company and grew into an established business operating multiple facilities. Company co-founders Gary and Scott Woodward considered several options when thinking about the future of CMG and decided that transitioning ownership of the company to the employees through an ESOP was the only option that recognized the gratitude they felt towards their colleagues for their loyalty and devotion to the company.
"Any business owner closer to the end of his career than the beginning naturally starts to consider the transition that retirement presents and begins planning for succession of the business," Gary Woodward stated. "Successful companies generally perform at high levels because they have assembled highly qualified teams whose efforts are aligned toward common goals. That has certainly been the case here at CMG and there is no doubt that we could not have succeeded to the level that we have without highly competent people working so diligently and sacrificing so much. For Scott and me, the only choice was to hand over ownership to the group who is so deserving of it. By doing so, we are confident that the foundation is in place for CMG to succeed well into the future."
CMG operates six locations nationwide and has plans to continue expanding into new markets.
About Coated Metals Group
CMG offers coil and flat sheet metals, metal panels and related products. To learn more, visit www.cmgmetals.com.