Acquisition Represents Holding Company’s First in Illinois and First Under New, Innovative Leadership Structure
Waukesha, Wis. (July 23, 2024) – In a strategic move to accelerate growth, OwnersEdge Inc., a 100% employee-owned ESOP holding company based in Waukesha, Wis., has acquired Communications Direct (CommDirect), an Illinois-based, mission-critical communications business that is a Motorola Solutions channel partner and a national leader in communication system rentals.
This is the first acquisition for OwnersEdge in Illinois, and the first since it announced a new leadership structure in June 2023, in which Lisa Reardon, founder and CEO, transitioned to the role of executive chair, while Christine Adee and Rob Dillon were appointed as co-CEOs.
OwnersEdge has a vision of growing from its current five operating companies to ten and delivering the American Dream to all of its current and future employee owners. The acquisition of CommDirect is another significant step in advancing that plan.
CommDirect is headquartered in St. Charles and has rental offices in four key cities that host large trade shows and conventions and high-profile events – Morton Grove, Illinois (which is close to Chicago); Orlando; Carrollton, Texas (just outside of Dallas/Fort Worth); and Las Vegas. All 26 CommDirect employees are now employee owners and will benefit from the company’s employee stock ownership plan (ESOP).
“During its 30-plus years, CommDirect has established itself as a premium provider of critical communication systems with differentiated capabilities in the large system rental market. This acquisition is a strategic move that allows us to expand our geographic footprint into Illinois with a business that perfectly complements two of our existing operating companies,” said Rob Dillon, co-CEO of OwnersEdge. “CommDirect clients will now have access to additional solutions that BAYCOM and Implecho offer, including video surveillance and door access control security systems, mobile computing products, headsets and tour guide systems.”
OwnersEdge Leadership Structure
Lisa Reardon, executive chair of OwnersEdge, said the acquisition demonstrates the effectiveness of the new leadership structure, which allows her to focus on finding and acquiring high-quality businesses that align with the OwnersEdge culture and purpose.
“Our structural changes have provided the necessary capacity and focus to accelerate our vision of building sustainable businesses throughout the Midwest,” Reardon said. “By adding CommDirect to our portfolio, we are able to continue to deliver on our purpose of enabling current and future employee owners to live out their own American Dream.”
CommDirect Insight
Tim Van Hiel and Bill Chmelik, the owners of CommDirect, said they chose to partner with OwnersEdge because of its technical expertise, customer focus and commitment to employee ownership.
“Their philosophy of treating employees with respect and rewarding them with the gift of employee ownership gave us tremendous confidence that they will be great stewards of this business going forward,” Van Hiel and Chmelik said. “We are proud to join the OwnersEdge portfolio and contribute to its growth and success.”
OwnersEdge Growth
OwnersEdge was established in 2015 as an ESOP holding company to provide revenue stream diversity and greater returns for its employee owners. During the past nine years, OwnersEdge has executed nine acquisitions and expanded its workforce to more than 300 employees.
“I believe the ESOP model is one of the best ways to create a committed and engaged workforce where employees view their contributions as vital and impactful to the overall success and financial health of the business,” said Christine Adee, co-CEO of OwnersEdge. “We’re excited to welcome the employees of CommDirect to our business and are always looking to bring additional companies into OwnersEdge.”
About OwnersEdge
Based in Waukesha, Wis., OwnersEdge Inc. is a 100% employee-owned ESOP holding company that strives to invest in and build sustainable businesses throughout the Midwest. The operating companies within the OwnersEdge portfolio utilize their industry expertise to drive business growth and create value for stakeholders including customers, communities and the ESOP employee owners. The existing companies in its portfolio – Asche & Spencer, BAYCOM, CC&N, Implecho and QComp Technologies – provide diverse products and services to a variety of market segments ranging from public safety to construction to manufacturing and music production.