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cyl-tec-completes-sale-of-company-to-employees
cyl-tec-completes-sale-of-company-to-employees

Cyl-Tec completes sale of company to employees

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Cylinder and bulk tank specialist Cyl-Tec has become a 100% employee-owned company through an Employee Stock Ownership Plan (ESOP).

Employees learned about adding ‘owner’ to their titles at a company holiday party in December and the transfer of shares means they now directly benefit from the growth of the Aurora, Illinois-based company. 

President Tom Bennett and his brother, Executive Vice-President John Bennett, previously owned Cyl-Tec, which was founded in 1990 by their brother, Jim, and their father, George.

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