On January 4, Dienen, the parent company of Surestep and Midwest Orthotic Services, all headquartered in South Bend, Indiana, transitioned to a 100 percent Employee Stock Ownership Plan (ESOP), a qualified retirement benefit that holds company stock. On January 13, employees of Midwest Orthotic Services and Surestep thought they had gathered to celebrate the 50th birthday of the companies’ founder Bernie Veldman. Instead, Veldman and his wife, Pam Veldman, made the announcement of the change to an ESOP structure to their 170 employees.Prairie Capital Advisors, Oakbrook Terrace, Illinois, acted as the exclusive financial advisor to Dienen.
“This is a long-term strategy to assure that our company’s tradition of service and quality care will continue in the communities we serve,” said Veldman, who will remain as the company’s president. Pam Veldman will continue as vice president, all members of the company’s leadership team will remain in their roles, and the day-to-day operations of the company and individual jobs will not change.
“We are excited for the future of our companies; we already have such a compassionate and dedicated team of employees,” Pam Veldman said.
Founded in 2000, Midwest Orthotic Services has multiple subsidiaries, including Midwest Orthotic & Technology Center, which has offices in Indiana, Illinois, Michigan, Kentucky, Missouri, and Texas. In 2011, the company was named a Company to Watch by the Indiana Economic Development Corporation. More recently, the entire Veldman family was inducted into the South Bend Community Hall of Fame Class of 2015.
