Record growth, ‘monster year’ put Emery Sapp over $1B mark

The books have closed on 2023 at Emery Sapp Construction Inc., and the results show the most impressive year in the company’s 52-year history. Revenue topped the $1 billion mark for the first time ever, growing from just $220 million in 2018 to $1.08 billion last year — a 391% increase over a five-year span and an average increase of 140% every year.

“Our people turned in an incredible performance in 2023, truly a monster year, and we couldn’t be more proud of what we’ve accomplished as a company,” said Tim Paulson, co-CEO. “However, it’s just a continuation of our success over the past decade, achieved by building the right team while always pushing the boundaries of what’s possible.”

Specializing in excavation, grading, underground utilities, bridge construction, asphalt and concrete paving, and pavement preservation, the Columbia, Missouri-headquartered company has rapidly increased its service area and market share in the Midwest in recent years, while also expanding into the U.S. Southwest with the acquisition of two Phoenix, Arizona-area firms in 2019 and 2022. 

As a result, FTEs have increased from 650 in 2018 to more than 2,600 in 2024, and the company now boasts offices, plants and quarries in more than 30 locations — including primary offices in Columbia, Kansas City and Springfield, Missouri; Springdale, Arkansas; and Phoenix, Arizona.

Paulson credits the recent success to not only having the right people and processes in place but also the ownership mindset that comes with being a 100% employee-owned organization with a mature Employee Stock Ownership Plan (ESOP).

“There’s a unique entrepreneurial spirit that’s unleashed with ownership,” he said. “You think differently, you think like an owner, and you have more skin in the game. Our ESOP has been a game-changer for thousands of past and present ESS employee-owners, allowing them to have a stake in the company’s financial success and gain wealth along the way.”

The company announced last Friday a record-high stock price, a 35% increase over the previous year. Employee-owners received an employer contribution of 20% this year — another record high for the firm. (For example, an employee-owner making a $50,000 salary would receive $10,000 worth of stock in their ESOP account this year.) In addition to the ESOP benefits, the company also made major improvements to the overall compensation and benefits package to better serve those who have contributed to the recent success.

“We’re nothing without our people, and we were proud to enhance our benefits – including lower medical rates and better disability coverage – to increase our investment in our employee-owners,” said Robert Gillis, PE, co-CEO. “By taking better care of the people who come to work for us every day, we can continue to attract and retain the best talent to ensure this success continues for years to come.”

ABOUT EMERY SAPP CONSTRUCTION, INC.

Emery Sapp Construction, Inc. (ESCI) is a 100% employee-owned national infrastructure enterprise composed of four operating brands: Midwest-based Emery Sapp & Sons and Premier Testing Laboratories; and Arizona-based Achen-Gardner Construction and Rummel Construction. More than 2,600 employee-owners strong, we specialize in grading and excavation, underground utilities, bridge construction, asphalt and concrete paving, and pavement preservation. With more than 30 offices, shops, plants and quarries throughout the country, the company works with clients in both the private and public sectors, including departments of transportation, developers, general contractors, the federal government, municipalities and railways. Learn more at emerysapp.com.

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