Rockford Transitioned to Employee Ownership

The Grand Rapids construction firm has shifted to a 100% employee-owned model via a new trust.

Updated on Sept. 21, 2026 in Jobs — General

Isometric editorial illustration of a heavy industrial steel structural beam resting on a concrete foundation, representing employee ownership structure. — Rockford, a Grand Rapids-based construction and development firm, has completed its transition to a 100% employee-owned model managed through an ESOP trust. AI Illustration. Upload story photo >

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Rockford, a construction, development and property management firm, has completed its transition into a 100% employee-owned company. All 330 of the firm's employees are now participants in an Employee Stock Ownership Plan.

Why it matters

Leadership initiated the move to preserve local control in Grand Rapids and enhance retirement benefits for staff. The transition is also expected to bolster the company's long-term recruitment and retention efforts.

Rockford has completed nearly $10 billion in projects since its 1987 founding. The 330 employees are fully vested in the ownership plan after six years of service, with share allocation based on individual salary.

The players

Rockford

This Grand Rapids-based firm specializes in construction, real estate development, and property management.

Mike VanGessel

He served as the founder and CEO of the firm before departing the company in late 2024.

The details

Under the new structure, an independent trustee manages the trust that holds all company shares. Employees do not have to contribute personal funds to receive these ownership stakes.

Rockford was founded in 1987.
Founder and CEO Mike VanGessel left the company in late 2024.
The firm formally initiated the ESOP transition process in February 2026.
The employee ownership transition reached completion in September 2026.

Market Landscape

The move positions Rockford among a growing segment of U.S. firms utilizing ESOPs to manage leadership succession and retain talent. This shift follows the trend established by the 6,400 U.S. companies with ESOPs reported in 2023.

Current employees will see ownership stakes based on their salaries without needing to provide personal funds. The transition is designed to provide long-term stability and enhanced retirement benefits for the existing workforce.

The takeaway

Employee ownership models allow private firms to keep headquarters local while incentivizing staff retention. Employees benefit from potential wealth accumulation linked to the firm's long-term performance.