Great Lakes Asset Solutions (GLAS) announced its transition to an Employee Stock Ownership Plan (ESOP) structure. This strategic change allows the company to become 100% employee-owned, reinforcing our commitment to delivering exceptional service while fostering long-term sustainability and growth.

Former owner and CEO, now Chairman of the Board of Directors, Brandon Marvin said, “As I looked to transition, I wanted to ensure the employees were taken care of as they are the key to Great Lakes’ success. It was important to me that Great Lakes didn’t get sold to a larger company, where employee security wasn’t guaranteed. I am thankful to our entire staff for everything they’ve done over these past 9 years, and this is just one way to show my gratitude.”

Anthony Garver, President of Great Lakes, emphasized that operationally, things remain consistent, saying, "Nothing is changing in our day-to-day operations, but we believe this ownership model will further inspire our employees to work even harder and secure more collateral for our clients. The ESOP aligns everyone’s success with the company’s success."

As an ESOP company, Great Lakes Asset Solutions empowers its employees to become direct stakeholders in the company's success. This ownership model enhances employee engagement, boosts productivity, and reinforces the company’s focus on building meaningful, long-term relationships with clients and vendors.

Recently, GLAS has passed the 100,000 pieces of collateral secured threshold, and the news of the ESOP will motivate the employees to find the next 100,000 and more.