Hoffman & Hoffman was founded by Harry & Louis Hoffman in 1947. Since 1947, the guiding values of the Hoffman Family of Companies have provided the backdrop for HVAC system design, building automation, and service for our customers. We believe in doing things right. We believe in business integrity, unparalleled service, and providing dependable solutions for every project we touch.
In 2016, the Hoffman Family of Companies became 100% employee-owned, and today encompasses four companies serving the HVAC and building automation industries with offices in four states. Backed by more than 75 years of experience, Hoffman & Hoffman brings together our industry’s top manufacturers with dynamic sales engineers with one goal: Get it right.
Learn More About Our ESOP
An ESOP, formally known as an Employee Stock Ownership Plan, is a tax-qualified retirement plan that invests primarily in the employer’s stock. The company sets aside stock in the ESOP to help employees prepare for retirement.
It means employees will be beneficial owners of the company at no cost, with equity in the company and retirement benefits. Non-management employees will not, however, participate in the management of the company, day-to-day decision making, and hiring and firing decisions. The ESOP does not guarantee employment at the company.
An ESOP is an effective tool for ownership succession-planning while also enabling employees to share in the company’s success.
There are two key differences between ESOPs and 401(k) plans. First, an ESOP invests primarily in an employer’s stock, while a 401(k) plan generally offers various mutual funds in which employees may invest funds. Second, 401(k) plans permit employees to contribute their own money into the plan, while ESOP contributions generally come solely from the company – making them completely free to employees.
The price of the stock in an ESOP is typically determined on an annual basis by a qualified valuation company working in conjunction with the plan’s trustee. These entities specialize in determining the value of ESOP-owned businesses. The value is based on many factors, including the company’s current and projected performance, the performance of similar publicly traded companies, the outlook for the industry, the geography within which the company operates, and the overall economic outlook.
Hoffman Family of Companies
Hoffman Building Technologies, Inc. (HBT) provides complete building management system services and networking between multiple locations of an organization. HBT also offers maintenance services to keep all of your systems operating properly and efficiently. Visit the HBT website.
Hoffman Mechanical Solutions (HMS) offers technical service for commercial HVAC and hydronic equipment. Their dedication to aftermarket service is reflected by their 24/7 emergency repair service availability. HMS’ mission has always been to provide customers with the best possible service and technical people that exceeds their expectations. Visit the HMS website.
Heat Transfer Sales, LLC (HTS) is a leader in customer-focused hydronic HVAC and engineered plumbing solutions for commercial buildings, schools, hospitals, universities, and more. HTS combines a team of HVAC industry experts with world-class manufacturer partners to craft hydronic solutions across industries, building-types, and occupant needs. Visit the HTS website.