Crystal Flash is currently a 100% employee-owned company. This structure means that the company's 280+ employees collectively own the business through an Employee Stock Ownership Plan (ESOP).
The Journey to Employee Ownership
Founded in 1932, Crystal Flash, a Michigan-based fuels distributor, operated for decades as a family-owned business under the proprietorship of the Fehsenfeld family. This traditional ownership model was a hallmark of the company for many years.
In 2016, a significant transition occurred: the Fehsenfeld family sold the company to its employees. This strategic move transformed Crystal Flash into an ESOP, ensuring that the people who contribute daily to its success also share in its ownership and future prosperity.
Key Aspects of Crystal Flash's Ownership
- Current Ownership: 100% employee-owned via an Employee Stock Ownership Plan (ESOP).
- Transition Year: The company transitioned to employee ownership in 2016.
- Previous Ownership: For decades, Crystal Flash was owned and operated by the Fehsenfeld family.
- Employee Count at Transition: At the time of the sale, the company had over 280 employees who became owners.
- Company Type: Crystal Flash is a fuels distributor based in Michigan.
Ownership Evolution Timeline
| Period | Ownership Structure | Description |
|---|---|---|
| Founded (1932) - 2016 | Fehsenfeld Family (Family-Owned Business) | Owned and operated by a single family. |
| 2016 - Present | Employees (100% Employee-Owned Company - ESOP) | Ownership transitioned to its workforce. |
This employee-owned model allows employees to have a vested interest in the company's performance, fostering a culture of shared responsibility and success.
