Condé Systems becomes an employee-owned company

Sublimation and heat-transfer supplier Condé Systems Inc. announced its employees are now the owners of the company through an employee stock ownership plan (ESOP). Condé Systems is a leading supplier of sublimation and digital heat-transfer equipment, supplies, products, and education.

As a 100% ESOP-owned company, all of Condé’s stock is now held in trust by the ESOP exclusively for the benefit of Condé employees. The move continues a trend of photo-industry companies choosing an ESOP to transfer a company’s ownership.

The company’s president, David Gross, approved the transaction in October with the intent of further strengthening its commitment to the company’s employees, business partners, and customers.

“Since our founding in 1992, my foremost goal has been to provide our clients the superior resources needed to be successful in their custom decorating business,” says Gross. “This transition is the best step for us as it reinforces our commitment to serving our clients in the best way possible and also supports the sustainability of our company.

“Our clients can now have an additional level of confidence that our firm is here to serve their needs far into the future. Equally, our employees now have an opportunity to accumulate financial well-being not only through compensation but also through the ESOP.”