The Davey Tree Expert Company, Kent, Ohio, is the 9th largest employee-owned company in the U.S., according to a report from the National Center for Employee Ownership.
The NCEO 2020 Employee Ownership 100 list shows Davey has maintained its position among the top 10 largest employee-owned firms since first being ranked at No. 9 in 2019.
Companies are ranked on the list according to the number of the employees; Davey now employs nearly 10,500 people across North America. The NCEO’s 2019 Employee Ownership 100 list includes the nation’s largest companies that are majority owned by an employee stock ownership plan or other broad-based employee ownership plan.
“The fact that we can continue to count ourselves among the 10 largest employee-owned firms in the U.S. is a testament to our commitment to growing and maintaining the employee-ownership model,” says Pat Covey, Davey chairman, president and CEO. “Our employees are the reason we’ve enjoyed so much success over the years and have continued to perform despite the challenges posed by today’s business climate. Employee ownership is a significant reason why Davey has endured, and it remains central to a prosperous future for our company.”
Founded in 1880, Davey has been employee-owned since 1979 when employees successfully bought the company from the family of its founder John Davey.
To be ranked on the list, companies must be at least 50% owned by an ESOP or other qualified plan or by one or more other types of plans in which at least 50% of the full-time employees are eligible to participate, according to the NCEO.