Littleton now ESOP
Employees of Littleton Coin Company are now owners of the business. Effective Jan. 1, the company became 100 percent employee owned as David Sundman and his family sold all of…
Employees of Littleton Coin Company are now owners of the business.
Effective Jan. 1, the company became 100 percent employee owned as David Sundman and his family sold all of the stock to an Employee Stock Ownership Plan.
Sundman will continue his role as president.
“My family and I made this decision to position Littleton Coin for the future,” Sundman said.
“This rewards our hard-working team members and promises to keep Littleton Coin a positive force in the Littleton area and the coin world for many years to come. The only change is the transfer of ownership to our employees. There are no changes operationally. We’ve got a great team, a very successful business, and we don’t want to change that,” Sundman explained.
The firm currently has over 300 employees and has its headquarters in Littleton, N.H.
Employees do not make financial contributions in order to participate in the ESOP, Sundman said. Instead, they build equity in the plan based on length of service. Current average length of service to the firm is 10.8 years.
This article was originally printed in Numismatic News. >> Subscribe today.
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