FabArc Steel Supply transitions to 100 percent employee ownership

by David Flaherty | 3 December 2024 12:23 pm

FabArc Steel Supply, Inc., Alabama’s largest steel subcontractor and an AISC-certified fabrication facility[1], has transitioned to 100 percent employee ownership through establishing an employee stock ownership plan (ESOP).
The company has also appointed Tom Adams as chairman to guide its future direction.
Over time, company stock will be allocated to both current and future employees, assisting with retirement planning and aligning employees’ interests with FabArc Steel Supply’s goals. According to company officials, this ownership model strengthens employee engagement and enhances its promise of “delivering superior service and exceptional results for its clients.”
“At FabArc Steel Supply, our employees are the driving force behind everything we achieve,” states
Tom Adams, chairman, CEO, and president. “By becoming 100 percent employee owned[2], we’re investing in our people’s futures while reinforcing the commitment to excellence our clients have come to expect. Together, we’re forging a path to sustainable growth and shared prosperity.”
Adams brings more than 40 years of experience in steel and bridge fabrication. Having joined the company 12
years ago, he has been instrumental in shaping FabArc Steel Supply’s “reputation for quality and innovation,” according to a press release. In his new role, Adams will oversee the company’s strategy, focusing on driving continued growth and improving operational efficiency across all aspects of the business.

Source URL: https://www.metalconstructionnews.com/news/fabarc-steel-supply/

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