Warner Norcross + Judd LLP advised Rockford in its transition to 100% employee ownership through an employee stock ownership plan, or ESOP. All 330 full-time employees of the Grand Rapids-based construction, development and property management firm are eligible to participate.
The transition supports Rockford’s focus on attracting and retaining talent while preserving local ownership. Employees participate at no cost, with vesting based on their length of service.
Rockford is West Michigan’s largest construction firm and is headquartered on Grand Rapids’ west side, where it has played an instrumental role in the resurgence of the Bridge Street corridor. The company also has offices in Detroit and Estero, Florida.
Full-time employees across all three locations are eligible to participate in the ESOP and Rockford’s leadership team remains in place to guide the company’s continued growth.
Warner Partner Justin Stemple led the legal team that advised Rockford as it considered several ownership options, including private equity buyers and additional ownership partners, before choosing an ESOP. The Warner transaction also included Cody Mott and Phil Haywood.
