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Border States Celebrates 40 Years of Employee-ownership

Pictured: Jason Seger, David White, Tammy Miller, Paul Madson

FARGO, N.D. (May 23, 2024) — Border States is celebrating 40 years of employee-ownership in 2024. 

Originally established in 1984 by former CEO Paul Madson, Border States’ Employee Stock Ownership Plan (ESOP) gives all employee-owners a stake in the success of the company. Under Madson’s leadership, the company transitioned to 100% employee-ownership by 2000, setting the stage for extraordinary growth in the following decades. 

“The establishment of our ESOP provided opportunity for every employee-owner to contribute their talent, knowledge and hard work to serve our customers’ needs, grow our company and enjoy the benefits our ESOP provides for a meaningful and prosperous retirement,” said Jason Seger, Border States President and CEO. “The 40th anniversary of the ESOP is a testament to the growth a company can have through visionary leadership with a foundation built on employee ownership.” 

Since 1984, Border States has grown from $40 million in sales to more than $4 billion in their most recent fiscal year. This growth has included numerous acquisitions, and geographic expansion to 31 states. 

Border States kicked off their ESOP 40th Anniversary celebrations with a gathering at their Branch Support Center (corporate office) in Fargo, North Dakota on May 7. In attendance were three former CEOs —Paul Madson, Tammy Miller, and David White—along with leaders and employee-owners from across the country. Celebrations will continue throughout 2024 at Border States branch locations. 

Border States supplies products and services to construction, industrial and utility customers. The 100% employee-owned company is rated the sixth largest electrical distributor in the United States by Electrical Wholesaling magazine. Border States has more than 3,500 employee-owners in 31 states. The Branch Support Center (corporate office) is located in Fargo, North Dakota.