DES MOINES, Iowa, June 30, 2016 – Austin Palmer, founder and President of Palmer Group in West Des Moines announced the formation and sale of his employment business to the Palmer Group Employee Stock Ownership Plan (ESOP). The firm, based in West Des Moines, was previously wholly owned by Austin & Stacie Palmer and currently employs 65 employment professionals and hundreds of temporary and contract employees throughout Iowa.
“During the past 18 years I’ve poured my heart and soul into the development of Palmer Group” Austin said. “It’s been a labor of love and I am extremely proud of the company we’ve built to date. Des Moines has been extremely good to us and continuing with local ownership was paramount in our decision. Perhaps most gratifying is the ability to provide ownership to the people that have helped build Palmer Group over the years.”
Austin Palmer will remain as President and David Leto will continue as Executive Vice President. The ESOP provides employees with the opportunity to earn stock in the company and is designed as a long-term retirement benefit for all employee owners. This transaction will reinforce Palmer Group’s long-standing commitment to local ownership and strengthen its ties to Des Moines and the central Iowa community.
About Palmer Group
Palmer Group is Des Moines’ premier employment firm. We were founded in 1998 with a mission to become the best firm in Iowa and that continues to be our goal today. We have 65 professionals in our West Des Moines office and provide our client companies with a broad range of employment services that include direct placement, professional temporary and contract staffing and outplacement services.
Areas of Expertise: Accounting & Finance, Information Technology, Office Administration & Customer Service, Banking & Mortgage, Engineering & Manufacturing, Human Resources, Sales & Marketing and Insurance.