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 firstname.lastname@example.org.
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