Prior to this sale, 54 percent of the company was owned by the Haviland family and 46 percent by Haviland employees. The remaining family stake in the company was sold to Haviland’s ESOP (Employee Stock Ownership Plan) Trust via an independent team of attorneys, advisors and trustees. The transaction was administered by the law firm of Dickinson Wright PLLC and Eureka Capital Partners representing the Haviland family, and K & L Gates LLP and Adamy Valuation representing the Haviland ESOP. Bankers Trust Co. served as an independent trustee. This completes the transition of ownership from the Haviland family to the employees, which began in 1997.
“This sale is consistent with our family’s commitment to the employees and to the communities of Grand Rapids and Kalamazoo,” says Haviland CEO E. Bernard Haviland, the youngest of 12 children of founder J.B. Haviland. “Employee ownership was clearly the optimal path forward for everyone involved. This is an exciting event for the employees, who have always been fully committed to the Haviland legacy of customer satisfaction and solid growth.”
Haviland Products Company formulates, and distributes commodity and specialty chemistry for surface finishing, pharmaceutical and manufacturing companies throughout North America. Haviland Products Company is a contract manufacturer and private labeler for several Fortune 500 companies. Haviland Consumer Products formulates, blends, packages, and distributes more than 85 different swimming pool chemicals to professional pool dealers throughout the United States.
