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Three central Pa. companies have new owners - their employees

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One company is based in Cumberland County while the other two are located in Lancaster County.

Employees at Rhodes Energy will become owners of the company through an ESOP. Hot Frog Print Media in Mechanicsburg, Rhoads Energy Family of Companies in Lancaster and Providence Engineering in East Hempfield Township, Lancaster County, have all announced that its employees will now become owners of the companies., a commercial printing and marketing company has announced it will now be 100% employee-owned. The company focuses on providing print and digital media to small and large businesses.

Under the Rhoads ESOP, each employee will be given an account that holds shares of stock in the company. Rhoads plans to routinely contribute shares to employee accounts. Each employee will receive stock that vests over the course of six years.“Since the very beginning, our company has focused on nurturing our connections with the community,” Company Rhoads Energy CEO MIke DeBerdine said in a news release.

 

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