McCarthy Holdings, Inc., America’s oldest privately-held national construction company, was recently recognized by the National Center for Employee Ownership (NCEO) as one of the 100 largest majority employee-owned companies. Ranked No. 30 on the 2021 Employee Ownership 100 list, McCarthy rose from a position of No. 47 in 2020.
“A strong ownership culture based on trust and accountability sits at the heart of our organization,” said McCarthy Chief Executive Officer Ray Sedey. “This commitment helps us deliver exceptional results for our clients, industry partners and employees. It’s an honor to be included among so many well-respected employee-owned companies across all industries.”
Founded as a family-owned business in 1864, McCarthy established its Employee Stock Ownership Plan (ESOP) in 1996. The company became 100 percent employee-owned in 2002. Today the organization has more than 2,500 employee-owners across 16 offices, with 2020 revenues exceeding $4.8 billion.
NCEO’s Employee Ownership 100 list is released annually and includes companies that are at least 50 percent owned by an employee stock ownership plan (ESOP), or other qualified plan in which at least 50 percent of full-time employees are eligible to participate. The 100 companies encompass more than 631,000 people and illustrate that employee ownership is a driving force behind many long-standing, successful businesses.
As a 100 percent employee-owned company, McCarthy’s employees are the driving force behind priorities and initiatives across the organization – beginning with safety, through continuous improvement and innovations on both jobsites and in offices, and extending to the firm’s commitment to the community. The result is culture of engagement that delivers a great experience for everyone.
The McCarthy Heart Hats charitable giving program annually donates more than $2 million to local communities in efforts often led by individual employees. The company also recently helped found Time for Change, a construction industry collaboration dedicated to identifying ways to advance diversity, equity and inclusion in the construction industry. The group launched the inaugural Construction Inclusion Week, which took place Oct. 18-22.
“One hundred percent employee ownership means we can truly focus on building an organization that will last and serve our communities for generations to come,” Sedey said. “We come to the jobsite or office ready to perform every day because we know that effort compounds over time and our clients, communities and employees are the beneficiaries.”
McCarthy Holdings, Inc. is the oldest privately held national construction company in the country – with more than 150 years spent collaborating with partners to solve complex building challenges on behalf of its clients. McCarthy Holdings, Inc. is comprised on McCarthy Building Companies, Inc. and Castle Contracting, Inc. More information about the company is available online at www.mccarthy.com or by following the company on Facebook, Twitter, LinkedIn and Instagram.