Canyon State Electric Transitions to Employee Ownership Through ESOP
- Arizona Contractor & Community
- 6 minutes ago
- 2 min read
Canyon State Electric recently announced that it has transitioned to an Employee Stock Ownership Plan (ESOP), becoming an employee-owned company following a transaction completed in early November. The move formalizes the company’s long-standing commitment to investing in its people while ensuring long-term stability for clients, partners, and employees across the Southwest.
“Becoming an ESOP is a natural extension of who we are as a company,” said Robert Hughes, President of Canyon State Electric. “Our people are the reason for our success, and this transition gives every employee a direct stake in the future we are building together.”
“This step honors the vision my family started in 1978 while positioning Canyon State Electric for the next generation of growth,” said CEO Stephanie Maderazzo-Hughes. “Employee ownership reinforces our culture of accountability, safety, and excellence, and it ensures that as the company grows, our team shares in the value they help create.”
Tony Davis, Project Coordinator, has worked at Canyon State Electric since 2024, contributing to projects ranging from data centers to healthcare facilities.
“I’ve seen companies with this model before, but to actually be part of one and watch it develop from the start— it's really exciting. Being part of a company that constantly strives for excellence and expects the best from everyone makes this experience even more meaningful.”
Canyon State Electric will continue to operate under its current leadership team, with no changes to day-to-day operations or its commitment to delivering high-quality electrical construction services for industrial, commercial, and healthcare clients. The ESOP structure is designed to support sustainable growth, strengthen retention, and deepen the company’s culture of ownership and collaboration.
"There's never been a better time to be a part of Canyon State Electric," said Hughes. "We hope our employee-owners feel that for years to come."
To join the Canyon State Electric team, visit canyonstateelectric.com/careers.