For Immediate Release
Integrated Axis Technology Group Sold to Create Employee Stock Ownership Plan
Tucson-Based Managed Service Provider Becomes Employee-Owned Company After 20+ Years of Private Ownership
Tucson, AZ, December 6th, 2021 — Integrated Axis Technology Group (IA), a Tucson-based managed information technology service provider for businesses throughout Arizona, announced today the sale of the company to its employees. The sale creates one of the few Employee Stock Ownership Plan (ESOP) companies formed in Southern Arizona in 2021. As employee-owners, all current and future employees are allocated company shares that increase in quantity and value commensurate with their employment length and company valuation.
Having received multiple offers from private equity firms and competing managed service providers, the leadership team encouraged the former owners to consider an ESOP sale, in part, to guarantee all current employees would keep their jobs and have a retention incentive. Moving forward with the ESOP sale to employees underscores the company’s cornerstone commitment to C.A.R.E. (customer focus, accountability, responsibility, and excellence.)
“We saw this as an opportunity to create a win-win for all involved,” said IA’s CEO Sean Oseran. “With an ownership stake, our employees have a built-in retirement plan that they do not have to pay into. In essence, we are investing in each other, knowing that our collective hard work will result in professional and financial success for the entire team.”
Integrated Axis Technology Group has an impressive track record when it comes to employee retention and satisfaction. Upwards of 75% of employees have been with the company for over 5 years. With the creation of the ESOP, they expect this trend to continue – a boon for both the company and the 350+ partners they serve.
“I’m really excited about becoming an employee-owner, and I’ve already seen how it has taken our “all hands on deck” work ethic to another level. It is clear this is a company I can really grow with,” said Integrated Axis Technology IT Project/Service’s Coordinator, Becky Mendoza.
According to the National Center for Employee Ownership, there are currently roughly 6,600 Employee Stock Ownership Plans, covering more than 14 million participants. A 2000 Rutgers study found that ESOP companies grow up to 2.4% faster after setting up their ESOP than would have been expected without it.