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SOURCE Triple Canopy, Inc.
New ESOP Expected to Bolster Global Service Provider
RESTON, Va., Feb. 14, 2014 /PRNewswire/ -- Triple Canopy, Inc., a global provider of mission support, security, training and advisory services, is pleased to announce that it has formed a 100 percent employee-owned company by establishing an Employee Stock Ownership Plan (ESOP).
A veteran-owned and veteran-run company, more than 80 percent of Triple Canopy's workforce is made up of former military personnel. "This is an exciting time for Triple Canopy and we are proud to become a majority veteran, employee-owned company," said Triple Canopy CEO Ignacio Balderas. "Delivering quality services to governments and multinational companies in challenging locations remains the mainstay of our business success."
Triple Canopy's new ESOP retirement structure will enable employees to share in the company's growth and success by earning shares in the business. According to Balderas, "Building an ownership culture with our newly established ESOP will strengthen our employee base and enhance the retention of experienced personnel worldwide. I cannot think of a better way to drive quality across an organization than to give employees ownership of the company and let them directly participate in its growth and success."
An employee stock ownership plan is a retirement plan that enables employees to own the company where they work through a qualified trust. First established in 1974, there are approximately 11,500 ESOP businesses in the United States with over 10 million employee owners.
About Triple Canopy
Triple Canopy is a leading provider of mission support, security, training and advisory services to government agencies and multinational corporations across a range of market sectors and geographies. The company excels at delivering complete program management solutions to help clients achieve critical mission objectives in challenging locations worldwide. From logistics and life support to personal protection and training, clients rely on Triple Canopy to mitigate risk and ensure business continuity. Triple Canopy is ISO 9001:2008 certified and a founding signatory of the International Code of Conduct. Visit www.triplecanopy.com.
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