Year Founded: 1977
Years of Employee Ownership: 100% ESOP since 2018
Headquarters: Woodstock, VT
Number of Employees: < 50
Line of Business: Manufacturing Software
MISys ("my-sis") has been a leading manufacturing software developer for more than 25 years. In 2007, the company launched its MISys Manufacturing software, a product now used by small to medium sized companies in 52 countries to reduce inventory costs, improve production efficiency, and provide accurate analysis of production costs, all while integrating with popular accounting software. The software has since won several awards for its broad applicability and has proven integral to operations at numerous manufacturing companies across a range of industries.
In October of 2018, the company's two remaining owners and founders sold the entirety of the company to the employees through an Employee Stock Ownership Plan. While the shift in ownership will continue to financially benefit employee owners for decades to come, the transition to an ESOP did not substantially impact the company's business model.
"The ESOP was a natural next step for us," said Ray Martell, CFO of MISys, in 2018. "Our employees have always held high standards when it came to software development and providing world-class support for our customers. As we look down the road, we believe that long term growth for both our employees and our customers is best served when all of us have a vested interest in success. An ESOP was the right choice for us."
