Business View Magazine - May 2024

exponentially in recent years while keeping the personalized service and VIP customer experience that have been its calling cards since it was founded. This ESOP company combines strong visionary leadership with empowered employees working to delight their customers in a collaborative and inclusive environment. This dynamic guides the company to exceed its goals and sets the stage for long-term partnerships that allow it to expand its reach. The backbone of the company is its passionate workforce working together in a culture where employees understand their role in the company’s success. Through clear communication about the ESOP structure and consistent employee training and development, employee-owners are equipped with the skills and knowledge they need to excel. Ultimately, H&CTool Supply Corp. has developed into a thriving business with a strong sense of community; a place where growth is not just a corporate goal but a shared achievement. A MODEST START TO AN ESOP ENTERPRISE H&C’s story began in 1955 with a man named Bill Cowgill, a journeyman toolmaker working for Kodak who wanted to be his own boss. When his previous employer, Kodak, became his first customer, the stage was set for employee ownership. His new venture quickly gained traction as a manufacturer of metalworking tools such as drills, reamers, and carbide tooling for CNCmachines. Over the years, the company transitioned to a distributor of specialty tooling, and in 1980 Bill’s son, Peter Cowgill, bought the company from him, becoming its sole shareholder. Following that, in 1990, H&C acquired the assets of a company called Hewes Industrial Supply, a general supply distributor specializing in mechanical fasteners, (nuts and bolts, screws, washers), and related supplies. 97 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 05 H&C TOOL SUPPLY CORP.