Schweitzer Engineering Laboratories was named one of the largest employee-owned companies in the nation by the National Center for Employee Ownership.
The Oakland-based nonprofit released its annual 2022 Employee Ownership 100 list, which includes companies that are at least 50% owned by an employee stock or other broad-based employee ownership plan.
SEL was named the 22nd-largest employee-owned company on the list with more than 5,930 workers. The list also highlights companies that are 100% employee-owned and Schweitzer ranked 17th in that category.
SEL, headquartered in Pullman, transitioned to employee ownership through an employee stock ownership plan in 1994.
It became 100% employee-owned in 2009 as part of the company’s long-term strategy for sustained growth, stability and customer focus, according to a news release.
“Employee ownership has become part of SEL’s DNA and has been key to our success,” Joey Nestegard, SEL’s chief business and financial officer, said in a statement.
SEL invents, designs and builds digital products and systems that protect power grids worldwide. It serves customers in 168 countries.
Spokane-based Yoke’s Foods Inc. also made the NCEO’s list of 100 largest employee owned companies, ranking 76th with 1,730 workers.Amy Edelen can be reached at (509) 459-5581 or at email@example.com.
Local journalism is essential.
Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.
Subscribe now to get breaking news alerts in your email inbox
Get breaking news delivered to your inbox as it happens.