NRS Now Fully Employee Owned
"When I started NRS, I wanted to build the kind of company that treated its customers and employees the way I wanted to be treated. Moving toward employee ownership is the best way for us to ensure that NRS retains that culture
When you mess up a line in a rapid, you have to own up to it. Employees at Moscow, Idaho's NRS are now doing the same for their products. What started in Bill Parks garage 42 years ago is now fully employee owned as NRS has made the move to being entirely employee owned as of 2014...
NRS associates have assumed full ownership of the company after purchasing all outstanding stock from its independent shareholders.
Since founding NRS in 1972, Parks, a former business professor, has led the company according to his progressive values. Moving to an Employee Stock Ownership Plan (ESOP) helps ensure his legacy as he nears his 80th birthday.
"When I started NRS, I wanted to build the kind of company that treated its customers and employees they way I wanted to be treated," says Parks. "Moving toward employee ownership is the best way for us to ensure that NRS retains that culture now and into the future."
The new program complements the work the company's employees have put into the brand over many years. The move also allows the company to be more competitive as the paddling industry continues to evolve.
"ESOPs are an uncommon business model. But for NRS, with its history of long-term employees, close family-like atmosphere, high work standards and strong sense of professional integrity, this structure is a natural fit," says NRS Vice President Bryan Dingel. "This is the logical next step toward ensuring our company's continued growth."
The move caps a big year for NRS during which it announced plans to open a European distribution center, expanded its operations in Canada, launched a revamped website, and acquired helmet manufacturer WRSI. With its new employee stock ownership program, NRS hopes to further improve its services to the paddling community and carry on its tradition of innovation.
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