OKLAHOMA CITY (OBV) — Kimray, Inc., an Oklahoma City-based manufacturer serving the oil and gas industry, has transitioned to an employee stock ownership plan company.
Prairie Capital Advisors, Inc. announced Wednesday it served as financial advisor to Kimray and its shareholders in the transaction. Terms were not disclosed.
Founded in 1948, Kimray designs and manufactures American-made valves, regulators, controllers, pumps, automation technologies, control equipment, and flow-control solutions used by energy producers. The company supports customers through engineering, field service, technical training, and a global distribution network.
Kimray CEO Thomas Hill said the transition to employee ownership reflects the company’s long-standing values and commitment to its employees.
“For four generations, Kimray has been built by people who care deeply about our customers, our communities and one another,” Hill said. “Employee ownership has been a long-held goal for our company because it aligns with the values that have guided us since our founding.”
Hill said the ESOP structure gives employees the opportunity to share in the company’s success while preserving Kimray’s independence and culture.
“This transaction ensures that the people who help create our success every day now have the opportunity to share in that success as owners while preserving the independence and culture that makes Kimray unique,” Hill said.
Prairie said it worked with Kimray’s leadership team and sellers throughout the preparatory, due diligence, and negotiation phases of the transaction.
Tom DeSimone, managing director at Prairie, said Kimray’s transition to employee ownership is a natural extension of the company’s values.
“Throughout the process, it was evident that leadership viewed employee ownership not simply as a transaction but as an opportunity to strengthen the Company’s future while recognizing the contributions of its employees,” DeSimone said.
Joseph Labetti, vice president at Prairie, said the transition reflects Kimray’s commitment to employees, customers, and the future of the organization.
“We are excited to see them continue to thrive as an employee-owned business,” Labetti said.
