Legacy Utility Group: Now Employee-Owned in 2026

Legacy Utility Group Becomes Employee-Owned

FOR IMMEDIATE RELEASE
March 3, 2025

Roseville, CA – Legacy Utility Group, a leading infrastructure contractor and one of the fastest-growing companies in Northern California, has transitioned to a Employee Ownership Model (ESOP) with the guidance of The Menke Group, America’s leading ESOP advisory firm. This transition secures the company’s future, rewards employees for their contributions, and ensures long-term stability for its customers and community.

“The team that built this company now owns it,” said Dave Jaeger, CEO of Legacy Utility Group. “An ESOP was the best way to preserve our values, reward our employees, and ensure Legacy Utility Group thrives for years to come.”

Legacy Utility Group has played a key role in critical infrastructure projects, including water, sewer, and underground utility construction. By becoming employee-owned, the company has solidified its succession plan while maintaining its independence, ensuring continuity for both its workforce and customers.

ESOPs Strengthen Businesses, Employees, and Communities

Legacy Utility Group’s transition comes at a time when employee ownership is increasingly recognized as a powerful tool for business succession and economic stability. ESOPs have been shown to enhance employee engagement, increase retention, and drive long-term profitability.

“ESOPs work exceptionally well in companies where human capital is a key driver of success,” said Trevor Gilmore, CEO of The Menke Group, who advised on the transaction. “This move creates financial security for employees, strengthens customer relationships, and ensures the company’s long-term success.”

Rather than selling to a competitor or private equity firm, Jaeger opted for a transition that keeps the company locally owned and operated, benefiting both employees and the regional economy. The ESOP model enables employees to build wealth over time, fostering a culture of shared success and accountability.

About Legacy Utility Group

Legacy Utility Group is the parent company of Nor-Cal Pipeline Services a trusted leader in pipeline inspection, rehabilitation, utility locating, hydro-excavation and maintenance, delivering cutting-edge solutions for municipalities, contractors, and utility providers. JVAC Vacuum Excavation specializes in safe, precise, and non-destructive air and hydro-excavation services, minimizing risk and maximizing efficiency for underground utility projects. Guardian Traffic Solutions ensuring work zone safety through expert traffic management services, keeping workers and the public protected on infrastructure projects.

Legacy is a leading provider of underground utility construction, serving municipalities, utility providers, and private sector clients across California and Nevada. Founded in 2007, the company has grown rapidly, completing large-scale infrastructure projects while maintaining a commitment to safety, quality, and integrity.

About The Menke Group

The Menke Group is the nation’s largest and most experienced ESOP advisory firm, having guided over 4,000 companies through the transition to employee ownership since its founding in 1974. With expertise in structuring and financing ESOPs, The Menke Group helps businesses create succession strategies that benefit owners, employees, and communities.

For media inquiries, please contact:

Legacy Utility Group
Jesse Bracamonte, Sr. Marketing Associate
(279) 321-1144

The Menke Group
Trevor Gilmore, CEO
(415) 318-1055

2025-03-11T20:22:09+00:00

The Benefits of Employee Ownership

Employee ownership through an ESOP model provides numerous advantages for both employees and the company. It fosters a culture of collaboration and shared responsibility, where employees are more engaged and motivated to contribute to the company's success. This alignment of interests often leads to improved productivity and job satisfaction.

In addition to enhancing workplace morale, employee ownership can also lead to better financial performance. Research shows that companies with ESOPs tend to outperform their non-ESOP counterparts, as employees who have a stake in the company are more likely to go the extra mile to ensure its success. This financial incentive translates into long-term stability and growth for the business.

Legacy Utility Group's Commitment to Community

Legacy Utility Group's transition to employee ownership is not just a business strategy; it is a commitment to the community it serves. By remaining locally owned and operated, the company ensures that its profits contribute to the regional economy, supporting local jobs and initiatives.

The company’s involvement in community projects, such as infrastructure improvements and public utility enhancements, highlights its dedication to social responsibility. Legacy Utility Group believes that strong community ties are essential for sustainable growth and aims to continue its legacy of service through active participation in local development efforts.

Future Goals and Vision

With the transition to an ESOP, Legacy Utility Group has set ambitious goals for the future. The company aims to expand its services while maintaining its core values of safety, quality, and integrity. This vision is driven by the belief that employee ownership will empower its workforce to innovate and adapt in a rapidly changing industry.

Additionally, Legacy Utility Group plans to invest in employee training and development, ensuring that its team remains at the forefront of industry advancements. By focusing on continuous improvement and adaptation, the company is poised to meet the evolving needs of its clients and the communities it serves.

Understanding ESOPs: A Guide for Employees

For employees, understanding the mechanics of an Employee Stock Ownership Plan (ESOP) is crucial to maximizing its benefits. An ESOP not only provides a retirement benefit but also allows employees to participate in the company's growth. This section will clarify how employees can engage with the ESOP and what it means for their financial future.

Moreover, employees are encouraged to actively participate in company initiatives and decision-making processes, fostering a sense of ownership and accountability. Knowledge about the ESOP's structure and benefits empowers employees to make informed decisions that can enhance their personal and professional development within Legacy Utility Group.

Legacy Utility Group Transitions to Employee Ownership via ESOP