Parkway Electric Shifts to 100% Employee Ownership via ESOP
Grand Rapids, Mich. – October 02, 2026 -- Parkway Electric & Communications has transitioned to 100% employee ownership through an Employee Stock Ownership Plan (ESOP), ending nearly 24 years of ownership by Huizenga Group. The announcement was made to employees on September 15 at the company's annual meeting held at the Pinnacle Center.
Huizenga Group chose employee ownership over an outside sale
Huizenga Group, a privately held West Michigan investment firm, acquired Parkway in December 2002. As the firm weighed the company's long-term future, it considered a potential sale to an outside buyer but ultimately opted for the ESOP structure to preserve Parkway's independence, culture and customer relationships. "We concluded that the best way to honor that legacy was to transition ownership to the employees themselves," said J.C. Huizenga, Chairman of Huizenga Group.