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David Gross Transfers Ownership of Condé Systems to Employees Through ESOP

Press release from the issuing company

Mobile, AL - Condé Systems, Inc. has announced that its employees are now the owners of the company through an Employee Stock Ownership Plan (ESOP). The company’s President, David Gross, approved the transaction in October with the intent of further strengthening its commitment to the company's employees, business partners, and customers.

An ESOP is an employee benefit plan, which provides company stock to employees as part of their retirement benefits. As a 100% ESOP owned company, all of Condé's stock is now held in trust by the ESOP exclusively for the benefit of Condé employees.

“Since our founding in 1992, my foremost goal has been to provide our clients the superior resources needed to be successful in their custom decorating business," said David Gross, President of Condé Systems. “This transition is the best step for us as it reinforces our commitment to serve our clients in the best way possible and also supports the sustainability of our company. Our clients can now have an additional level of confidence that our firm is here to serve their needs far into the future. Equally, our employees now have an opportunity to accumulate financial well-being not only through compensation but also through the ESOP,” he added.

Condé Systems offers everything needed to succeed in the personalized photo gift business including sublimation, direct-to-garment, and digital heat transfer systems, blank imprintable products, design software, production supplies, and more. During all stages of product selection, sales, and post sales, Condé offers expert knowledge and superior technical education and support. Condé was voted ‘Best Educational Support for Sublimation’ in 2019, 2020, 2021, and 2022 by readers of A&E & Printwear magazines. Condé's large collection of videos are available at www.condetv.com to help screen printers, sign makers, embroiderers, pad printers, engravers, photographers, and artists expand their current product offerings to include a variety of high-margin products including drinkware, wearables, home décor, pet gifts, jewelry, signage, award plaques, and more.


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