Paragon Sports Constructors Became Employee-Owned

The Fort Worth-based athletic facility builder transitioned to a 100% employee-owned model in January 2026.

Updated on Sept. 21, 2026 in Business Strategy

Isometric editorial illustration showing a steel girder beside a segment of blue track material, representing athletic facility construction. — Paragon Sports Constructors finalized its transition to a 100% employee-owned company in January 2026, leveraging an ESOP to maintain its Fort Worth-based operations. AI Illustration. Upload story photo >

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In January 2026, Fort Worth-based Paragon Sports Constructors finalized its transition to a 100% employee-owned company. The firm implemented an Employee Stock Ownership Plan to reward staff and maintain its independent corporate culture.

Why it matters

The shift aims to preserve the firm's established culture while providing long-term equity rewards to employees who have contributed to the company's significant financial expansion over the past decade.

Paragon Sports Constructors grew its annual sales from $9 million in 2009 to more than $120 million. The company completed its transition to a 100% employee-owned structure in January 2026.

The players

Paragon Sports Constructors

This Fort Worth-based company specializes in the construction of athletic facilities throughout Texas.

J.P. Morgan

This global financial services institution provided advisory services for the Employee Stock Ownership Plan transition.

William Chaffe

He is a partner who assumed leadership of the company along with others in 2009.

The details

The builder of athletic facilities, which originated as a paving company in 1987, worked with J.P. Morgan's ESOP Advisory team to evaluate and finalize the transition. Management remains in the same leadership positions following the ownership change.

Paragon Sports Constructors began operations as a paving company in 1987.
William Chaffe and partners took over the company in 2009.
The firm officially became 100% employee-owned in January 2026.
Employees will receive their first statements detailing the value of their ESOP shares in the fall of 2026.

Market Landscape

This transition aligns with a broader industry trend of private firms adopting Employee Stock Ownership Plans to secure long-term independence. By moving to employee ownership, the company positions itself to retain talent while preserving its established operating model against market consolidation.

For the company's employees, this transition represents a significant change in long-term financial compensation and equity interest in the firm. Customers and partners should expect consistent service levels, as the current management team remains in place following the shift.

The takeaway

The move to an employee-owned structure secures the legacy of the firm while directly aligning the financial interests of the staff with the company's ongoing growth. This model serves as a strategic pathway for private companies to reward longtime workers without seeking an external acquisition.