Guttman Energy, Guttman Renewables, Source One Transportation Announce Transition To Employee Ownership

On November 30, Guttman Energy, one of the region’s largest private companies with approximately $4 billion in total revenue, Guttman Renewables and Source One Transportation, have now become employee-owned companies, united in a newly formed Company – Guttman Holdings.

The companies within this new Employee Stock Ownership Plan (ESOP) will continue to market under their current names, in the same markets, and are expected to continue their significant growth and success.

Guttman has been fueling innovative growth for 92 years. Industrial, commercial, retail, and transportation operations across the eastern United States have trusted Guttman for their customized fueling solutions, and Source One Transportation to deliver their fuel safely and efficiently.

Guttman Renewables, the Company’s latest innovation, provides customers with the most sustainable products and solutions available. This commitment to always provide its customers with personalized and highly responsive service continues to set Guttman apart within the fuel industry.

“My brothers and I are extremely excited about this opportunity. Having been very successful in managing our customer’s fuel and transportation needs through the most tumultuous time in our history, we remain very bullish about this business and our future. We have an outstanding executive leadership team in place. Joe Lucot, CFO and Mark Harper, COO have been leading the Company for the last few years and have set Guttman up for continued growth. The ESOP is an opportunity to share our success with the leadership team and all the employees. We are thrilled to turn over the Company and entrust our legacy to our outstanding management team and team members to take Guttman into the future,” said Alan Guttman, CEO and Chairman of the Board.

“We are incredibly grateful for– and proud of– this amazing opportunity. Each of us now has a heightened sense of commitment to our customers and vendors’ goals. As one energized, engaged, and employee-owned and led team, we will build an even stronger Company, and a better future for all the stakeholders we serve,” said Mark Harper, Chief Operating Officer.

“The ESOP and opportunities provided to us by the Guttman families are truly special and very much appreciated. Our long-term growth and success will allow us to enhance employee engagement and loyalty, attract and retain the absolute best people, further support economic development in the regions where we operate, and continue to serve our communities,” said Joe Lucot, Chief Financial Officer.

NewsClip:

— Pittsburgh Business Times: Guttman Energy Becomes Employee-Owned Company

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