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BENJAMIN RUSSEL CHILDREN'S HOSPITAL
POLYGUARD IN FOCUS
December 16, 2014
POLYGUARD NOW 100% ESOP OWNED
Structure of company remains intact
ENNIS, TX – Polyguard Products’ Employee Stock Ownership Plan (ESOP) completed a transaction earlier this month officially purchasing remaining shares from the company’s lone individual shareholder and allowing the company to become 100 percent ESOP owned.
The company has been employee-owned for nearly 30 years, but this most recent transaction allowed the ESOP to purchase the remaining 30 percent from CEO John Muncaster, who remains in his position leading the company in the future. An ESOP allows employees an ownership interest in a company and, in Polyguard’s set up, at no cost to the employees.
Polyguard’s ESOP began in 1987, shortly after Muncaster purchased the company, when he and his wife, Kathy, decided they wanted to create an environment where employees could feel ownership in something and be rewarded for that work at retirement – something John Muncaster said they are very proud of.
“Kathy and I felt that we really needed committed employees to help Polyguard succeed, and we had heard that having an ESOP is a good way to increase employee commitment,” John Muncaster said. “In the end, it has worked out that way; we shared the success, and the success was bigger because of
the extra commitment. It was a ‘win-win’.”
Polyguard’s ESOP paid out over $2 million in retirement to employees in 2014.
Polyguard has nearly doubled in size over the past five years and projects aggressive growth in the near future. It now sells products in over 30 countries and is one of the nation’s leaders in exports, as recognized by its acceptance of the President’s “E” Star Award in May of 2014, presented to U.S. businesses that achieve noteworthy exporting success.
Founded in 1953, Polyguard Products specializes in products which protect surfaces and structures from moisture, water, or other undesired substances. Polyguard is an industry leader in the production self-adhesive protective coatings for engineering and construction. Polyguard has achieved 22 consecutive years of sales growth.
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If you would like more information about this topic, please contact Tre Bischof at 214-515-5000 or
email at Tbischof@polyguardproducts.com.