Traverse City News and Events

Team Elmer’s Is Now An Employee-Owned Company

By Craig Manning | June 7, 2023

Team Elmer’s announced on Tuesday that it has officially “joined the ranks of employee-owned companies.” The construction company, which provides a range of asphalt, excavation, concrete, and crane services in northern Michigan, was founded in 1956 and has been a family-owned business since its inception. Tuesday’s news marks a new chapter for the company, as it transitions into an ESOP (Employee Stock Ownership Plan) company.

In a press release announcing the news, Team Elmer’s President Troy Broad – part of the family that has owned the business since 1977 – shared that, “after careful consideration, our family decided to make a transition for the future.” That transition, Broad said, is meant to “convey our commitment to our employees and ensure the continuation of the same high level of services to our valued customers.” 

Per the release, Team Elmer’s “is now an independent sister company to Rieth-Riley Construction Co., Inc. and other employee-owned entities.” Despite the new ownership model, Team Elmer’s will continue under the same leadership that has spearheaded the company for years, though the business leadership team will now work “in conjunction with” the employee owners.

Comment

What's Next For Round's Restaurant? Traverse City Icon Faces An Uncertain Future

Read More >>

Union Street Rezoning, Millworks Project Scheduled for June 3 Public Hearings

Read More >>

Grawn Man Arrested for Possessing Child Sexually Abusive Material

Read More >>

Nursing Union Derides Munson Healthcare For Blocking National Nurses Week Events; ‘More To The Story,’ Munson Leaders Say

Read More >>

New Petition Calls For Tourism Revenues To Fund Infrastructure Projects, Public Services

Read More >>

Eva Petoskey Named 2025 ATHENA Award Recipient

Read More >>

Nearly $1.8 Million Awarded to Civic Center, East Bay Township Projects

Read More >>

DDA to Host Public Open House on Rotary Square Concepts

Read More >>

Join Us For Recess Wednesday at Food Rescue - And Win a $500 Boathouse Gift Card!

Read More >>

Nominating Packets Open for Mayoral, City Commission Seats

Read More >>

Authorities Clear Out, Tape Off Pines Encampment

Read More >>

City Commissioners Discuss Economic Development, Strategic Plan, Parks Contract

Read More >>

Your Spring 2025 Restaurant Guide

Read More >>

Commissioners Unanimously Approve Safe Harbor Year-Round Permit; Pines Enforcement Starts Today

Read More >>