Palmer Holland Converts to Employee Stock Ownership Plan
CLEVELAND — Specialty chemical distributor Palmer Holland converted to a privately held Employee Stock Ownership Plan (ESOP) with an ownership team made entirely of employees.
While Palmer Holland was a private company prior to the transition, this move solidified the organization's goal to remain an independent specialty chemical and ingredient distributor for the long term. While others in the sector have sold to multinational, publicly traded companies or reorganized, Palmer Holland has doubled down on the model, its people and its independence.