Adman Electric Celebrates One Year Of Employee Stock Ownership Program

Tuesday, October 16, 2018

Chattanooga-based electrical contractor Adman Electric is celebrating the one-year anniversary of its employee stock ownership program (ESOP).

Adman Electric was founded in Chattanooga in 1975. Todd Moreland, who began his career with Adman, purchased the company in 1992. Since that time, Mr. Moreland and his team have grown Adman Electric from $2.8M to over $50M in annual revenues.

“When I began considering retirement,” said Mr. Moreland, “I had two options: sell and risk an unknown future for these men and women who helped me build this company or find an option that would reward them for their loyalty and dedication.”

In August of 2017, Mr. Moreland established the employee stock ownership program and signed over Adman Electric to his employees. Through the plan, the employees are granted stock in Adman Electric. As time passes and the value of the company increases, so too will the value of the stock. Every employee, from the receptionist to the president, is now an owner of the company and financially benefits from the continued success of the company.

“This team is what has made Adman Electric - and myself - a success. I want to be fair to the people who have built this company,” said Mr. Moreland, reflecting on his ESOP decision. “It’s about reputation. We’ve always had the reputation of doing what’s right. The ESOP is just a continuation of what we put into practice every day with our work and for our customers.”


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