We are excited to announce CHASSE Building Team has become a 100% teammate owned firm by launching an Employee Stock Ownership Plan (ESOP). The surprise announcement was made to our team members during a company-wide meeting at Sloan Park on December 2nd and was met with great enthusiasm…and confetti!
To preserve CHASSE’s culture shaped upon our purpose of ‘Building to make a difference…for our teammates, our client’s building experience, and the local communities we serve,’ company owners sold 100% of the business to their teammates through an Employee Stock Ownership Plan. Our mission is ‘Built different, on purpose!’ and as a result, we are calling it our Teammate Stock Ownership Plan, or TSOP for short.
Barry Chasse, CHASSE’s Founder, is enthusiastic about continuing to lead the teammate owned enterprise.
“When we started CHASSE back in 2007, we never dreamed we would be where we are today. Our team and company have far surpassed our original hopes,” reflects Chasse.
CHASSE was founded in 2007 just months before the Great Recession that occurred in 2008. Nevertheless, the team persisted. Over the past 14 years, CHASSE has grown from a handful of team members to more than 200, and today oversees more than $425 million in client engagements each year. We are 100% Arizona based and client-focused completing new construction and renovations in a variety of markets including K12 Education, Higher Education, Multifamily, Municipal, Commercial, Healthcare, and Nonprofit.
“We always wanted to put the best long-term ownership structure in place that sets CHASSE Building Team up with the best possible runway for the future. Team is in our name for a reason and when we learned about the ESOP, we loved the idea that ALL of our teammates would own the company. An ESOP just feels like the perfect solution that will benefit our clients and teammates for the long run.”
The move to TSOP does not change the management structure of CHASSE Building Team. The plan, which allows employees to earn stock in the firm, is designed as a long-term retirement benefit for all employees as owners. Under the plan, all eligible employees will earn a yearly allocation of stock, which increase as the value of the firm increases.
If you want to be a teammate owner, CHASSE – a Best Place to Work – is hiring! We’re always looking to add highly motivated team members and would love to have a conversation about how you can contribute to our future success. CHASSE reinvests significantly in our teammates by providing continuing education, competitive compensation and benefits, career advancement and work/life/community balance.