Cee Kay Supply

Cee Kay Supply, Inc. Announces Employee Stock Ownership Plan

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Cee Kay Supply, Inc., the largest family-owned independent distributor in the Midwest for industrial gases, welding equipment, & dry ice is proud to announce the formation of its new Employee Stock Ownership Plan (ESOP) designed to provide 49% stock benefits to the 135 employees.

Cee Kay Supply now joins a group of over 6,500+ U.S. companies that are currently operating as ESOPs including the 171 in Missouri & 137 in Illinois. The transaction has also included additional operating companies Gateway Cylinder Technologies, ArchView Carbonic and CryoGas CO2 to create the newly formed employee-owned entity CK Supply, Inc.

Tom Dunn, past CEO and Owner stated, “The employees have always been at the center of growth & success for Cee Kay Supply. As I explored transitioning out of ownership, the ESOP model was a great solution to preserve the brand and our family ownership legacy, while allowing future employees to directly share in the benefits of their hard work and long-term dedication.”

Due to increased employee involvement, ESOP companies generally have a superior track record compared to other companies. In various studies, published by the National Center for Employee Ownership, ESOP companies have higher productivity, profit margins and overall job satisfaction. Additionally, their employees have been found to have 2.2x as much in retirement plans, 20% more financial assets, and 53% longer median job tenure*.

Current President & CEO Ned Lane also stated, “I am excited for our new employee owners. Normally when someone retires, they receive a gift from the company. With Tom’s retirement, he has given us the gift of independence & ownership by selling to the ESOP.”

To assist in the transaction Cee Kay Supply engaged Prairie Capital Advisors as the financial advisor and Polsinelli law firm to assist in closing the transaction. Cee Kay Supply has also appointed an independent ESOP trustee which with its advisors will continue to serve on behalf of the employee interests.

The new employee owners of CK Supply will celebrate this company milestone together in August with a company picnic held at first generation owner Mim and Paul Dunn’s Lake property.

For any questions, please contact Ned Lane, Cee Kay Supply President, at 314.644.3500

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Post-Dispatch Names Cee Kay Supply a Winner of 2017 Top Workplaces Award

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FacebooktwitterlinkedinmailCee Kay Supply has been awarded a 2017 Top Workplaces honor by The Post-Dispatch. The Top Workplaces lists are based solely on the results of an employee feedback survey administered by WorkplaceDynamics, LLC, a leading research firm that specializes in organizational health and workplace improvement. Several aspects of workplace culture were measured, including Alignment, Execution, and Connection, just to name a few.

Doug Claffey

“The Top Workplaces award is not a popularity contest. And oftentimes, people assume it’s all about fancy perks and benefits.” says Doug Claffey, CEO of WorkplaceDynamics. “But to be a Top Workplace, organizations must meet our strict standards for organizational health. And who better to ask about work life than the people who live the culture every day-the employees. Time and time again, our research has proven that what’s most important to them is a strong belief in where the organization is headed, how it’s going to get there, and the feeling that everyone is in it together. Claffey adds, “Without this sense of connection, an organization doesn’t have a shot at being named a Top Workplace.”

At the core of Cee Kay Supply’s values is being people oriented. “Cee Kay Supply strives to make things better everyday for each of our employees, customers, suppliers, and community” said Ned Lane, President of Cee Kay Supply. “To receive the Top Workplaces honor for the first time during our history speaks volumes to the amount of work our employees and management team has put into Cee Kay Supply,” said Ned Lane. Cee Kay Supply looks forward to building upon the momentum of this award and raising the bar even higher on the value we place on all the people in the Cee Kay Supply community.

Cee Kay Supply is the largest independent supplier of industrial gases, welding and cutting equipment and supplies in Missouri. 

Headquartered in Exton, PA, WorkplaceDynamics specializes in employee feedback surveys and workplace improvement. Facebooktwitterlinkedinmail