In 2021, VETS Group celebrated an extraordinary milestone: 100 years of building, innovation, and partnership. To mark the company’s centennial, fourth-generation President Sean Rayner introduced an important evolution in the company’s ownership model.
For the first time in VETS Group’s history, ownership expanded beyond a single shareholder per generation. Through the launch of an Employee Share Ownership Plan (ESOP), employees were given the opportunity to become owners of the company they help build every day.
Today, that community of employee-owners continues to grow.
Employee ownership reflects a simple belief: the people who contribute to the success of the organization should have the opportunity to share in its long-term value.
“Our ESOP isn’t just a program; it’s the foundation of our performance.”
— Sean Rayner, President, VETS Group
What Is an Employee Share Ownership Plan?
An Employee Share Ownership Plan allows employees to acquire equity in the company they work for. In practical terms, it gives employees the opportunity to invest in the organization and benefit directly from its long-term growth and success.
At VETS Group, the program is voluntary and designed to encourage meaningful participation. Shares are offered annually at fair market value and can be purchased through options such as payroll deductions, cash purchases, or financing arrangements.
This structure ensures employees have real “skin in the game,” reinforcing accountability, commitment, and long-term thinking throughout the organization.
Employee Ownership in Canadian Construction
Employee ownership has become an increasingly attractive model across Canada, particularly in industries built on skilled teams and long-term client relationships. In construction and mechanical contracting, success depends heavily on the expertise, collaboration, and commitment of the people doing the work.
An ESOP helps align those efforts with the company’s long-term success. By giving employees the opportunity to become shareholders, companies can strengthen engagement, support succession planning, and retain the skilled professionals who drive performance.
Across the industry, employee ownership is recognized as a powerful way to create stability, attract talent, and preserve company culture over time.
Why VETS Group Introduced Employee Ownership
Employee ownership had been under consideration at VETS Group for several years as a way to strengthen the company’s future.
In 2017 and 2018, the company worked with external advisors to conduct an ESOP feasibility study and develop a blueprint for the program. The ESOP was ultimately launched in 2021 alongside the company’s 100th anniversary.
The program was designed to support several key goals:
- Reward and retain key employees through long-term incentives
- Attract talented individuals in a competitive labour market
- Deepen the company’s ownership culture
- Provide a flexible path for future ownership succession
- Celebrate the company’s legacy by recognizing employees
More than a symbolic change, the ESOP represents a strategic investment in the company’s future.
Creating an Ownership Mentality
At VETS Group, employee ownership reinforces one of the company’s core values: Ownership Mentality.
This means treating the work we do and the tools we use as if we personally paid for them, while approaching every customer relationship as a long-term partnership built on trust and shared success.
When employees are owners, they see the bigger picture. Day to day decisions are made with long-term value in mind, and teams work together with a shared commitment to quality, safety, and performance.
Employee-owners share in the company’s success, fueling innovation, safety, and a relentless pursuit of excellence.
Why Employee Ownership Matters to Customers
Employee ownership benefits more than the people inside the company. It also creates real value for customers.
At VETS Group, the company’s strategy focuses on delivering value across three areas: shareholder value, employee value, and customer value.
For customers, this translates into several advantages that reflect our partnership perspective to doing business:
- Greater accountability and professionalism
- Higher productivity and efficiency on projects
- Faster delivery and better coordination
- Long-term relationships built on trust and reliability
When employees are owners, they are personally invested in the outcome of every project. That shared responsibility strengthens both performance and partnerships.
What Employee Ownership Means for Our Team
For the VETS team, the ESOP represents both opportunity and recognition.
Employee ownership allows team members to invest in the company’s future while sharing in the value they help create. It also supports a workplace culture built on communication, training, safety, and meaningful work.
Participation in the program continues to grow. Recent updates show that nearly half of employees are eligible to participate, with more than half of those eligible choosing to become employee shareholders.
This expanding community of employee-owners reflects confidence in the company’s direction and pride in the role employees play in shaping it.
Looking Ahead
Employee ownership is now a core part of VETS Group’s long-term strategy.
By aligning employee success with company performance, the ESOP strengthens engagement, encourages innovation, and helps preserve the culture that has defined the company for more than a century.
More than 100 years after its founding, VETS Group continues to build on its legacy of partnership, accountability, and shared success.
And now, that success is shared by the people who help create it every day.
