Employees set to take over local company
Tuesday, April 08, 2008
MIAMISBURG — O'Neil & Associates Inc. is shifting ownership of the company to its employees and a management team led by Bob Heilman, the company said this week.
"I have been planning this transition for the last five years and could not be happier with the smoothness of the transfer of ownership," John Staten, O'Neil owner, said in an announcement.
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O'Neil's more than 300 employees control 25 percent of stock in the firm through an employee stock ownership plan introduced four years ago. More than two-thirds of the staff work at O'Neil's Miamisburg headquarters on Byers Road.
A transition plan will keep Staten as the chairman of the company's board of directors, the company said. "O'Neil has seen steady and sustained growth throughout Staten's 20-year ownership, doubling in size every 5-6 years, and the company has grown 50 percent in the last 15 months," the firm said.
O'Neil & Associates makes manuals and more for military, aerospace and manufacturing customers. The company is building a 4,500-square-foot workshop to accommodate some of the larger equipment.
