Environmental Firm Cadmus is now 100% Employee Owned
Watertown, Mass., 26 May, 2010– The Cadmus Group Inc., a $60 million environmental and energy consultancy with strong roots in the federal and utility sectors, is pleased to announce that it is now entirely employee owned.
On April 30, 2010, the Cadmus Employee Stock Ownership Plan (ESOP) finalized its purchase of the remaining 49 percent of company stock held by founders Ralph T. Jones, Ph.D., and Gene E. Fax. The stock purchase completes the transition to total employee ownership that began in 2003 when the ESOP was formed.
“The completion of this transition is a defining moment for the firm and for our rapidly growing staff of employee-owners,” said Ian Kline, president and CEO. “It is also a significant milestone in our growth strategy, which has led Cadmus to double in size over the past two years, while significantly expanding the work we’re doing with our clients to address the nation’s most critical environmental and energy issues. This transition positions us to continue that growth.” “We know our current clients, including those at the U.S. Environmental Protection Agency and electric and natural gas utilities across the country, have always valued the outstanding advice and service provided by our employee-owners. For the clients we will be adding in the future, employee ownership means a commitment to client service unmatched in the industry. It truly differentiates our firm,” said Mr. Kline.
Cadmus will maintain its current leadership and management structure. A corporate restructuring and an executive transition plan were implemented soon after the initial stock purchase seven years ago.
"Two of our main priorities as sellers were that Cadmus' culture remain intact and our management team, which has produced such stellar performance in the past seven years, be left in place to lead the firm. With the movement to 100 percent employee ownership, we have achieved those goals," said Mr. Fax.
Mr. Fax will remain chairman of the Cadmus board of directors and will lead the company's quality assurance and in-house training programs.
Dr. Jones, who with Mr. Fax founded Cadmus in 1983, will remain a full-time employee and a member of the board of directors. He will continue to lead technical environmental projects and plans to spend more time working with – and mentoring – the next generation of leaders at Cadmus.
“I'd like to thank Ralph and Gene for their extraordinary accomplishments and outstanding leadership over the past 27 years. They created an exceptional company that we can now be proud to call our own. And they worked with the management team to ensure a graceful transition that allows the company to stay intact and on course,” Mr. Kline said.
About The Cadmus Group, Inc.
Cadmus (http://www.cadmusgroup.com) helps government, non-profit and corporate clients address critical challenges in the environmental and energy sectors. We provide an array of research and analytical services in the United States and abroad, specializing in solving complex problems that demand innovative, multidisciplinary thinking. Our major service areas are Water, Energy Services, Social Marketing and Market Transformation, Health Policy and Communications, Green Building, International Development and Strategic Environmental Consulting.
Our staff includes scientists; engineers; statisticians; economists; MBAs; marketing, public relations and communications professionals; attorneys; information technology specialists; and public policy analysts. Many of our senior consultants are nationally recognized experts in their fields, and several serve on high-level U.S. government science advisory boards.
For additional information, contact: Melissa Saunders The Cadmus Group, Inc.
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