Rayser Holdings wins national ESOP award

CEDAR RAPIDS — Rayser Holdings, an employee-owned holding company in Cedar Rapids, was recently named the 2024 National Employee-Owned Company of the Year by the Employee Stock Ownership Plan Association.

The award, presented May 9 in Washington, D.C., recognizes the company’s dedication to employee ownership and its positive impact on the community, economy and employee-owners, according to a news release.

Two other Cedar Rapids-based companies have won the national award — the Van Meter electrical supply wholesaler and services company in 2011 and Folience, parent company of The Gazette, in 2022.

Rayser Holdings, at 1014 Fifth Ave. SE in the MedQuarter, has approximately 150 employees in Iowa now celebrating the company’s 20th year of employee ownership.

Ray Buser founded Rayser more than 50 years ago, starting with the flagship group CarePro in 1971. When Buser retired in 2004, he decided to sell the business to Rayser employees. Rayser Holdings was established In 2018, when the company had an offer to buy the CarePro community pharmacies.

Rayser’s portfolio now includes CarePro Health Services, KELTEK Inc., Des Moines Winterset Memorials and J-Tec Associates. The company’s website is rayserholdings.com.

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Michelle Jensen, president and CEO of Rayser Holdings, said the company’s revenue has grown by 16 percent and its net profit by 22 percent since it began its acquisition strategy in 2019.

In addition, she said, the company’s share price has increased by 49 percent, “directly benefiting its employee-owners.”

Receiving the national award, she said, “is a reflection of the hard work and dedication of every member of the Rayser community. This recognition reaffirms our belief in the power of employee ownership to empower individuals, strengthen our businesses and enhance our communities.”

Rayser, a member of the Iowa/Nebraska Chapter of the ESOP Association, was among 19 chapter-level winners and three finalists to receive the national ESOP award.