Press Release
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June 23, 2010
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 Radian Gathers to Celebrate Employee Ownership
Clanking glasses, laughter, and music could be heard upon entering the dining room of the Lafayette Country Club on June 23, 2010. Gathering to celebrate the first account statements of the ESOP, employee owners of Radian Research came together for an afternoon of food, fun and camaraderie. Read more...
Press Release
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June 15, 2010
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Inside Business Produces Show at Radian
Watch the video here.
Press Release
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September 25, 2009
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Radian CEO meets with US Senator for Indiana
On Monday, September 21, 2009 Radian Research’s CEO Tim Everidge was one of four Indiana corporate executives invited to meet with United States Senator for Indiana Richard Lugar in Indianapolis at the firm of BKD Accountants. Everidge shared with the Senator a brief history of Radian Research along with the role that Radian products play in the international commerce of electric energy measurement. The focal point of the conversation was how Radian Research implemented an Employee Stock Ownership Plan and how the Plan allows for the creation of employee wealth. Everidge asserted that existing tax laws for companies with an Employee Stock Ownership Plan should remain unchanged. ESOP plans by their very nature give employees the opportunity to participate with an entrepreneurial spirit while personally sharing in the increased value of the corporation. Any increase in federal taxes on ESOPs would cause a negative impact upon a company’s ability to fund the employee accounts within the ESOP Trust. Thus, an increase in an ESOP corporation’s taxes would actually trickle down to every employee.
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Tim Everidge
President and Chief Executive Officer Radian Research, Inc. |
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Richard Lugar
United States Senator
for Indiana |
Press Release
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January 20, 2009
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The Company’s History and a New Beginning
Radian Research, Inc. is a recognized world leader in the research and development of Energy Reference Standards, Energy Meter Testing Systems, Current Transformer Testers and Automated Laboratory Energy Reference Systems. Radian’s energy reference standards are absolutely unequaled in accuracy, stability and reliability. Radian’s products are designed to meet the growing demanding requirements of electric power companies and national metrology institutes.
Radian was founded in 1982 by Glenn A. Mayfield, physicist and entrepreneur. The corporation is based in a 25,000 square feet facility in Lafayette, Indiana that houses all aspects of the business, including Engineering, Marketing, Sales, Production, Quality and Administration. Today Radian offers over 20 different products that are sold to customers in over 50 different countries. In 2005 Radian Research purchased Utility Test Equipment Company (UTEC) allowing it to further expand its testing and calibration product line.
Mr. Mayfield passed away in 2007 and desired that his stock be liquidated in a manner that was in the best interest of the employees. After in depth review and analysis of the alternatives by its Board of Directors, employee ownership was determined to be the best choice and effective December 19, 2008, Radian Research, Inc. became a 100% Employee Owned Company by implementing an Employee Stock Ownership Plan (ESOP). It is believed that Radian’s new employee ownership structure meets the wishes of its founder and that the new structure will help foster the entrepreneurial spirit of its employees to further Radian’s worldwide presence and its continued success. In addition, this ownership decision will increase the prospect of keeping Radian Research based in Lafayette, Indiana for the foreseeable future and thereby keeping jobs in Indiana and the Lafayette community.
Radian Research, Inc. is the first Hoosier Company to participate in Indiana’s ESOP Initiative Linked-Deposit Program created by the State Treasurer.
View the WLFI TV news story here : Local company becoming employee-owned
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