Camelot Homes Now Employee-Owned
Key Takeaways:
- Camelot Homes recently announced a transition to full-employee ownership through an Employee Stock Ownership Plan (ESOP).
- Day-to-day operations will continue seamlessly under current leadership, ensuring stability for clients and partners.
- The move highlights Camelot Homes' dedication to having a positive, collaborative workplace
Scottsdale, Ariz.-based home builder Camelot Homes recently announced that it has transitioned to full employee ownership through an Employee Stock Ownership Plan (ESOP). During a company-wide meeting, owners Julie and Mark Hancock surprised team members with envelopes containing stock certificates that revealed the new ownership structure. Although ownership has shifted, the day-to-day operations will continue to be managed by current leadership to ensure there are no disruptions for the company’s clients, partners, and suppliers.
The move showcases Camelot Homes’ dedication to providing a supportive and collaborative environment for its workers. The 56-year-old company has earned recognition for its positive work environment in the past. Most recently, the company received the 2024 National Housing Quality Gold Award and was also named Pro Builder’s 2024 Builder of the Year.
“Our employees have always been the foundation of our company's success,” said Mark Hancock. “Establishing an ESOP is the ultimate way to reward their dedication and ensure that the legacy of quality, craftsmanship, and customer service that our family started continues for generations to come. This transition is a celebration of our team, and we are thrilled to officially welcome them all as owners.”
