Bandit To Be Employee-Owned

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Bandit’s Remus, Michigan, plant is growing as the company entrusts its future to its employees. (Photo courtesy of Bandit Industries.)

Bandit Industries, a Michigan-based company with 35 years of experience manufacturing chippers, stump grinders, track carriers, and skid steer attachments, announced that it has agreed to an employee stock ownership plan (ESOP). The program effectively lets Bandit’s employees take full ownership of the company while retaining the current company leadership and culture.

Off The Market

Prior to the proposal of the ESOP, Bandit’s leadership had considered selling the company, first to a rival manufacturer and then to a private investment firm. According to Dianne Morey, the formerly family-owned company was better off in the hands of its trusted employees than under the control of a third-party firm that may not share their values and priorities.

Growing At Home & Establishing New Partnerships

If the ownership drama has you thinking that this company is on the ropes, think again. Recently, Bandit has enjoyed 20% growth per year and the company is in the midst of a pair of facility expansion projects at its headquarters in Remus, Michigan. Bandit is also preparing to launch several new products before the end of the year.

Earlier this month, Bandit’s equipment dealers had the opportunity to get a first look at the massively powerful, slow-speed industrial shredders and stone crushers from Germany-based ARJES, a company that Bandit recently partnered with and will sell in new markets, including the Americas, Australia, New Zealand, South Africa, Indonesia, and more.

You’ll find a variety of new and used Bandit equipment for sale every day on ForestryTrader.com.

Source: Bandit Industries