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Employee Stock Ownership Plan (or “ESOP”)
Baker Electric joins approximately 7,000 ESOPs in the U.S. with roughly 14 million participants.
Baker is a unique company – driven but with a family feel. Many of our employees have been with us for a good portion of their careers. Our ESOP will position the company for sustainable, long-term growth, while enhancing our team members’ work lives and financial futures. As an employee-owned company, every employee-owner at Baker Electric shares in our success. Yearly contributions of company shares can make a huge impact on our Team members’ life. When we do well as a company, all employee-owners do well.
ABOUT PAGE - TIMELINE
WE OWN
At Baker we believe in investing in others. It was Ted Baker’s vision for Baker Electric employees to own Baker. He believed when Baker team members own the company, they in turn take care of their company and work hard to make it better. So, he created an employee stock ownership plan so Baker employees could formally have the opportunity to own company stock.
Baker Electric joins approximately 7,000 ESOPs in the U.S. with roughly 14 million participants."I've considered transitioning to an ESOP for the past few years, and I am happy and excited that this day has finally come," said President and CEO Ted Baker. "Our hard-working, dedicated employees are the lifeblood of Baker Electric. We are very excited about implementing this structure and confident that the long-term benefits of this plan will not only enhance our company’s performance capabilities for the benefit of our clients and industry partners, but also bring significant value to our Baker Electric team members.”
Our History
In 1938, Leroy Baker founded a simple electrical business focused on rewiring household appliances and performing other home-based energy needs. Today, Baker Electric is widely recognized and respected as one of Southern California’s leaders for its innovative and comprehensive portfolio of electrical contracting and Renewables solutions.
BAKER TURNS 85
Since 1938, Baker Electric has been a leader in the electrical industry, providing top-quality products and services to our customers. We are proud to have served generations of families and businesses, and we look forward to continuing to do so for many more years to come.Thank you to our loyal customers, dedicated employees, and supportive community for making this milestone possible. Here's to 85 years of excellence and many more to come!
BAKER BECOMES 100% EMPLOYEE OWNED
"I've considered transitioning to an ESOP for the past few years, and I am happy and excited that this day has finally come," said President and CEO Ted Baker. "Our hard-working, dedicated employees are the lifeblood of Baker Electric. We are very excited about implementing this structure and confident that the long-term benefits of this plan will not only enhance our company’s performance capabilities for the benefit of our clients and industry partners, but also bring significant value to our Baker Electric team members.”
BAKER CELEBRATES ITS 80th Anniversary
Celebrating their 80th year in business in 2018, Baker Electric toasted to their longevity by expanding the four generation, family-owned company based in San Diego to the City of Los Angeles. Since 1938, Baker has delivered electrical contracting services to the greater Southern California area with uncompromising quality, innovation and integrity. The exponential growth in the number of projects in the region over the past few years has led Baker to open a new office in Los Angeles to better serve the greater L.A. County market.
LAUNCH OF BAKER ELECTRIC SOLAR
Now Baker Electric Home Energy. With Baker Electric seeing unprecedented growth in the residential solar sector, a demand for solar installations for homes had become a top priority. With so much potential for meeting the renewable energy needs of local homeowners, Baker Electric Home Energy was introduced in 2007.
BAKER BUILDS NEW HEADQUARTERS
In 2006, Baker Electric built a new office and warehouse located in Escondido. The building is close to 30K sq ft and now serves as the company’s Corporate Headquarters.
TED BAKER BECOMES PRESIDENT & CEO
Ted Baker joined Baker Electric as an estimator. Ted grew into his position and learned the ins-and-outs of Baker Electric, Inc. He helped the company save money and continue to grow for years. In 2000, Ted took over as President of Baker, where he remains today.
BAKER JOINS NECA
In 1957,Baker Electric joined the then small group of electrical contractors in the National Electrical Contractors Association (NECA).
BAKER OBTAINS ELECTRICAL CONTRACTERS LICENCE
In 1956, Baker Electric acquired its Electrical Contracting License. Prior to this time, the laws were loose and a license wasn't required to perform work. One year later, Baker Electric, Inc. joined the then small group of electrical contractors in the National Electrical Contractors Association.
LEROY BAKER ACQUIRES DEITRICH ELECTRIC
LeRoy Baker purchased a local electric company called Dietrich Electric for $4,000. While he did not realize it at the time, LeRoy would soon begin the Baker legacy of excellent customer service and quality workmanship in electrical contracting.
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