StoneAge CEO Kerry Siggins Appointed to Colorado Employee Ownership Commission by Gov. Polis

Durango-based company’s ESOP model serves as example for other CO businesses

DURANGO, Colo.--()--Kerry Siggins, CEO of Colorado-based StoneAge, Inc., the leading manufacturer of high-pressure waterblast tools and automated equipment for industrial companies and contractors worldwide, was appointed by Governor Polis to the Colorado Employee Ownership Commission where she chairs the marketing arm of the State’s Employee Ownership (EO) efforts.

“I've seen firsthand that employees who work for a business with some form of employee ownership are often more committed to their company, and -- as a result -- they stay with their company longer. They are also more likely to earn higher wages, which not only makes families more financially secure, but keeps our economy moving forward,” said Governor Polis. “In Colorado, we’re fortunate to have numerous models of successful employee-owned businesses to look to. Kerry Siggins and StoneAge Tools is a shining example of the wealth generation and growth that employee ownership delivers.”

The mission of the Employee Ownership Commission is to create a smooth and stable business succession plan for local small-business owners, mapping out a seller’s journey to help owners handoff companies at retirement rather than shut them down. The Employee Ownership Network, which is housed in the Colorado Office of Economic Development and International Trade, brings together subject matter experts such as employee-owned businesses, attorneys and economic development experts to promote employee ownership in Colorado.

“We are living in an era of conscious and participatory capitalism, and there are great solutions for the Silver Tsunami which can transform the economic landscape of our state and nation in many positive ways,” said Siggins. “Employee-ownership models like ESOPs create a unique culture of ownership and accountability that has been the key ingredient for StoneAge’s double-digit growth since our ESOP was created. ESOPs are a viable and fruitful model for founders looking to exit their companies.”

Siggins joined StoneAge in January of 2007 as the Director of Operations. In 2009, she was named CEO by StoneAge’s Board of Directors and has since led the company in building a strong global presence resulting in double-digit growth year over year. Under Siggins’ leadership, StoneAge became an Employee Stock Ownership Plan (ESOP) company in 2015 and she inspires her employees daily by cultivating a strong culture of ownership and engagement.

Employee-owned businesses promote a higher quality of living for the employee-owners themselves – including higher wages and a longer job tenure — and secure greater economic stability for the communities. The Governor’s Employee Ownership Commission is made up of 14 people working to create a better standard of living for Colorado workers and to continue to validate Colorado as a national leader as a place to live, thrive and excel. Additional members include:

  • State Representative James Coleman
  • Senator Jack Tate
  • Halisi Vinson, Executive Director of Rocky Mountain Employee Ownership Center
  • John Kovacs, EO Analyst at OEDIT
  • Glenn Plagens, Director of Rural Prosperity of OEDIT
  • Jen Briggs, Independent Outside Director at Beyster Institute
  • Minsun Ji, Director at the Center for New Directions at CU Denver
  • Douglas Dell, Senior Vice President at Key Bank
  • Stephanie Gripne, Founder and CEO of Impact Finance Center
  • Sandy Shoemaker, Partner and CPA at Plante Moran
  • Steve Johnson, Director of Community Development at Colorado Housing Finance Authority (CHFA)
  • Jason Wiener, President of Jason Weiner P.C.
  • Dan Hobbs, Cooperative Specialist at Rocky Mountain Farmers Union

About StoneAge, Inc.

StoneAge, Inc. is the leading manufacturer of high-pressure waterblast tools and automated equipment for industrial companies and contractors worldwide. Our focus is on developing the highest quality products for industrial, sewer, and downhole cleaning as well as custom equipment for application-specific challenges. Visit news.stoneagetools.com for information.

Contacts

Trish McCall
tmccall@olmsteadwilliams.com
310.824.9000

Contacts

Trish McCall
tmccall@olmsteadwilliams.com
310.824.9000