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HOOPP and Social Capital Partners Lead Taylor Guitars on Employee Ownership
Posted on 03/17/2021
Taylor Guitars was founded in 1974 by Bob Taylor and Kurt Listug and has grown into the leading global builder of premium acoustic guitars. Taylor now employs over 1,200 people and currently produces hundreds of guitars per day in its state-of-the-art factory complexes in both United States (El Cajon, California) and in Mexico (Tecate).
Taylor Guitars has transitioned to 100% employee ownership. Backed by a Canadian pension fund, Healthcare of Ontario Pension Plan (HOOPP) via HOOPP Capital Partners, and Canadian non-profit Social Capital Partners (SCP), this is a landmark transaction where a pension fund has directly financed an employee ownership conversion with a flexible, long-term debt facility.
Plan Sponsor Roundtable: DC Plan Investment Menus
Plan sponsors discussed the investment options they chose for their plans and how they determined which were best.
Reported by
Out of 17 core investment options in Taylor Guitar’s 401(k) plan, nine of them are actively managed, Bryan L. Bear, vice president of finance at Taylor Guitars, told attendees of PLANSPONSOR’s 2021 “What’s on the Minds of Plan Sponsors” virtual conference.
Bear says his company chose to offer actively managed funds along with passive funds for actively managed funds’ ability to provide high returns during turbulent markets. “For active managers, they have the ability to navigate through those volatile markets that we may experience, while still providing solid returns on those funds,” he said. “There are no guarantees, but we chose to provide participants with those options.”