Mike Okel, Donna Hensley and Mike Smith bought the company in 1999, and they retain 51% of the company. The company’s press release announcing the change says the owners found the greatest asset of the company was the employees.
“We did not get to where we are today without a long list of dedicated and loyal employees, some that are no longer with us. Selling the company outright was not an option,” Okel, who is president of Hughes-Peters, said. “We’ve had a year of celebration for our company’s 100th year in business and there is no better way to cap it off.”
The company says this opportunity will be a wealth-building opportunity for employees and will allow them to share directly in the company’s success.
Hughes-Peters is headquartered in Huber Heights at 8000 Technology Blvd. and there are 12 branch locations in Illinois, Indiana, Minnesota, Wisconsin, Michigan, Texas, New Jersey and Florida, among other states. The company serves the industrial, medical, food equipment and non-automotive industries, among others, according to its website.
John Hughes and Henry Peters founded the company in 1921.
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