Highland Homes has been building homes in Texas for 30 years and this week it announced plans to convert to an employee stock ownership plan, which makes the builder 100% employee owned, reports Dallas Business Journal staffer Candace Carlisle.
More than 600 people work for Highland Homes and will now have the opportunity to own a part of the company. "We made this move to ensure Highland's long-term future and to maintain the unique culture of our commitment to homeowners and employees," said Co-founder Rod Sanders, in a prepared statement.
Sanders said this company's transition to being employee stock owned wouldn't impact the management team or operations. The plan ensures Highland Homes remains privately held, company officials said.
Last year, the company sold more than 2,400 homes with more than $1 billion in revenue. To date, Highland Homes has built more than 50,000 homes.