Zimmerman Marine Becomes Employee Owned

Jan 15

Zimmerman Marine Becomes Employee Owned

zmi  esop logo

On January 1, 2020 Zimmerman Marine launched an Employee Stock Ownership Plan (ESOP) and became a 100% employee owned company. “Our present success is built on the shoulders of our remarkable employees, and our future will be defined by our ability to attract and retain highly skilled people. Becoming an employee owned company provides the best path to reward those who helped us get here, and to give others another reason to join us,” said company president, Steve Zimmerman.

Zimmerman Marine operates five service locations from Maryland to South Carolina, with just under 70 employees. 2020 marks the firms 40th year in the boat repair and service business.  The plan, which allows employees to earn stock in the firm, is designed as a long-term retirement benefit for all employees as owners.

“We have always treated our employees with respect, collaboration, and appreciation. Becoming an ESOP fits our existing culture and takes these qualities to a new level. I could not be more excited for our people and for the future of ZMI,” said Steve Zimmerman. A new board of directors has been formed and Zimmerman will continue as President and CEO.