January 16, 2014
Hypertherm, a manufacturer of plasma, laser, and waterjet cutting systems in Hanover, N.H., has transferred all of its common stock into an employee stock ownership plan (ESOP), making the company 100 percent employee owned under an S-Corporation structure.
Previously Hypertherm's ESOP held about one-third of the company's stock. Controlling shareholders Dick and Barbara Couch created the plan in 2001, followed by a global stock value program (GSVP) for international associates in 2004.
With the redemption and purchase of all remaining shares into the ESOP, the Couches seek to ensure the continuation of Hypertherm as an independent company.
The company is not planning any changes to its management structure.