Fidelity Manufacturing Transfers Ownership to Employees in Florida

Fidelity Manufacturing in Ocala, Florida, has transferred 100 percent ownership of the company to employees through an employee stock ownership plan, after founders Brad and Wendy Dinkins sold their controlling shares to a trust that distributes stock to eligible workers.

The company announced the ownership transition on October 5, 2026, during a companywide meeting, according to 352today.com. The 16-year-old manufacturer produces backup power solutions, including generator enclosures, fuel tanks and "complete standby power packages" for essential infrastructure such as hospitals.

The ESOP structure allows eligible employees to receive company shares through a trust, with allocations typically based on salary and length of service, according to 352today.com. When workers retire or leave the company, the company generally buys back those shares.

Mitch Twardosky, CEO of Fidelity Manufacturing, said the ownership change was designed to preserve the company's independence and culture while giving workers a financial stake in its future.

"For us, this is about protecting what has made Fidelity successful while creating an even stronger foundation for the future. We want to preserve the independence, values and culture that have shaped this company from the beginning, while giving our employees a meaningful opportunity to share in the value we create together," said Mitch Twardosky, CEO of Fidelity Manufacturing.

Fidelity is preparing to expand operations with a second manufacturing facility in McGregor, Texas, according to the company announcement cited by 352today.com. The ESOP does not change the company's usual management structure or give employees direct control over daily operations.

Brad Dinkins, chairman and co-founder of Fidelity Manufacturing, said the transition was intended to protect relationships with employees, customers and partners while preparing the company for future leadership.

"Wendy and I have always viewed ourselves as stewards of what God entrusted to us through Fidelity. That included caring for our employees, honoring the relationships we have built with our customers and partners, and preparing the company to thrive beyond us. Employee ownership places Fidelity’s future in the hands of the people who helped build it while preserving the values, independence and commitment to quality and service that have guided us from the beginning," said Brad Dinkins, chairman and co-founder of Fidelity Manufacturing.

The ESOP model differs from a worker cooperative because employees receive ownership benefits without taking part in a democratic decision-making structure. Companies often use ESOPs as retirement benefit programs that can support employee retention and long-term ownership succession.