Consumers Pipe & Supply Co. has completed a transaction to become 100% employee-owned through its newly created Employee Stock Ownership Plan (ESOP). The company was founded in Commerce, California and is a value-added distributor of all types of pipe, fittings, valves, actuation and steam specialties. Since its inception, the Company has been owned and managed by the Abeling family.
After 56 years of significant expansion and growth, the Abeling family has transitioned 100% of the company’s total ownership to all the employees of the company through a qualified retirement plan known as an Employee Stock Ownership Plan (or ESOP). All eligible employees will be granted shares of Company stock each year, at no cost, allowing them to earn ownership over time through their service to the company and accumulate tax-deferred retirement wealth. Consumers Pipe & Supply Co. joins a group of elite 100% employee-owned companies across the U.S.