Skip to main content
Enter search terms below…

Member News

Rifenburg Holdings, Inc. transfers 100 percent ownership of the company to employees through an Employee Stock Ownership Plan



Troy, New York, July 1, 2024 — Rifenburg Holdings, Inc. headquartered in Troy, New York, is now 100% employee-owned following the transfer of all of the stock of the Company to a newly-formed Employee Stock Ownership Plan (ESOP). This ownership transition, effective as of June 30, 2024, includes 100% of Rifenburg Construction, Inc.; Marcy Excavation Services, LLC; Rifenburg North Carolina, LLC; Rifenburg Contracting Corporation; Park East Sales, LLC; and Construction Administration Network, LLC.

“The Rifenburg family recognizes that it’s our loyal employees that made these companies successful over the past 66 years. We decided the best way to transition the organization to the future was to allow them to share in that success. We are very excited about this opportunity and we are confident that it will help attract new people to our team”

An ESOP is an employee benefit plan, facilitated through a trust, which provides company stock to employees as part of their retirement benefits. Congress created these plans to make it possible to transfer ownership to employees in a tax-favored way. According to the National Center for Employee Ownership, there are approximately 6,500 ESOPs in the United States holding total assets of over $1.6 trillion and covering nearly 14 million participants. As a 100% ESOP owned company, all of Rifenburg Holdings Inc.’s stock is now held in trust by the ESOP exclusively for the benefit of eligible Rifenburg employees.

FOR IMMEDIATE RELEASE: May 6, 2025   Palace Theatre Contact:  Sean Allen, Director of Marketing    518-465-3335 ext. 111   [email protected]   Palace Theatre 19 Clinton Ave. Albany, NY 12207 www.palacealbany.org   Palace Theatre Announcement   Lift Every Voice: A Juneteenth Musical Celebration  featuring the Howard University Gospel Choir…
Prescription drug spending is increasing faster than any other component of healthcare costs, significantly impacting the overall costs of your benefit plans. As a business leader, balancing these rising expenses while ensuring quality care for your employees is a critical challenge.   Join us virtually on Wednesday, May 14th at 9 AM EST for The…
Press Conference to Honor Wm. J. Fagan & Sons, Inc. on Induction into New York State Historic Business Preservation Registry   WHAT:    Recognizing Wm. J. Fagan & Sons, Inc. on the occasion of their official inclusion in the New York State Historic Business Preservation Registry.   Founded in 1910 by William J. Fagan in Troy, NY, Wm. J.…
May
08
We would like to invite all of our members to our 125th Annual Dinner and Business Expo. Join us for a night to Market, Develop, and Connect with your…
5:30pm-8:00pm
May
13
Speaker Engagement Series Paul Buehler will use his experience and expertise to give an engaging speech on Labor and Employment Law Updates. After the…
Tuesday, May 13th from 8:30am-10:00am
May
15
Join Us for the Member Feedback Forum Breakfast! Mark your calendar for Thursday, May 15th, from 3:30 PM to 4:30 PM. This is your chance to share your…
3:30pm - 4:30pm