After 50 years in business, Natare Corporation, manufacturer of pool equipment and construction systems, has become an employee-owned company. The change took effect in January 2022.
Michael Walsh, who founded and has owned the company and its predecessor (Recreonics Corporation) since its founding in 1972, opted to transfer the company’s ownership to its employees rather than selling to another entity. Walsh said it was important to preserve the Natare culture and reward its employees who have helped grow the company into the leader it is today.
“We built a company around the goal of providing excellent service and superior-quality pool equipment and construction systems. That goal has been realized through the dedication of a team of designers, engineers, and production people committed to manufacturing and providing unique products and services that have often been copied but never equaled. As we move into the next chapter, my goal was to ensure that the Natare team can continue that heritage in the decades to come,” says Walsh.
The company ownership is being transferred to an Employee Stock Ownership Plan (ESOP) where Natare employees will own the company through stock ownership. All current employees will share in the ownership of Natare Corporation.
To lead Natare and its employees into the future as an employee-owned company, a new executive leadership management team has been put into place. Troy Yoder, the former vice president of marketing and sales, will take over as president and CEO. Yoder has been with the company since 2004. Matt Trout, vice president of operations, has been named chief operating officer and corporate vice president; Lisa Bigley, the Natare Controller, has become corporate treasurer and CFO. Joshua Albertson, formerly the Western U.S. and Canada regional sales Engineer, will move to the sales manager position. Walsh will continue to be involved with Natare as the executive chairman of the Natare board of directors.
Natare employees were notified of the impending changes in December 2021, and the company celebrated the completion of the transition to an employee-owned company in a company-wide luncheon on March 10, 2022, just prior to the 30-year anniversary of Natare on March 11.
