Illini Hi-Reach has become an employee-owned company, an ESOP (employee stock ownership plan), president and CEO Larry Workman told RER. All of the Illini management team remains in place. The company is planning to add more experienced employees as the company continues its strategic growth and expansion.
“We are very pleased to announce that Illini has completed a successful transition into an ESOP this past month,” Workman said. “This is a well-deserved and excellent opportunity for our employees and their long-term future as well as for our company. After 25 years of growth and expansion at Illini, a well-structured ESOP was the right choice for all involved to capitalize on the continuing strong growth of the rental equipment industry for years to come.”
In other Illini Hi-Reach news, the company relocated to a new South Bend, Ind., location. The new branch has a full-service shop with more than two acres of outside storage space, with a better location to serve the market for better service and trucking. The branch manager is Troy Farkas.
Based in Crown Point, Ind., Illini Hi-Reach is No. 98 on the RER 100.
