Tri Wire Engineering Solutions, a broadband service installation company for the telecom industry headquartered in Tewksbury, announced that in January, 100 percent of the company’s common stock was transferred to the employees through an Employee Stock Ownership Program, making Tri Wire one of the largest broadband service companies completely owned by its employees.There are so many broadband service companies that people sometimes look to use things like Usave to help them make a decision on the best broadband provider. However, what makes Tri Wire Engineering Solutions different is the fact that it is owned by its employees.
With nearly 600 of its more than 900 employees living in communities all across Greater Boston spanning from Cape Cod to Springfield to Coastal New Hampshire, the company believes that employee ownership will lead to greater growth opportunities, employee retention and better recruitment, resulting in a more rewarding work experience overall.
“We are a proud service-based organization; our product is our people,” said John Wade, founder and CEO. “As we look to the future, it only makes sense that the next generation of ownership should be the very employees that make it happen every day.”
The company has no plans to change the executive team or the management structure. Wade will remain chairman and CEO. Tri Wire currently has over 900 employees situated across 12 states, in such major metropolitan areas as Arizona, Tennessee, Maryland, Pennsylvania, New York and New England. The company, which designs and installs commercial and residential broadband services, was founded in Boston in 1999.