EON, Inc. headquartered in New Ulm, has acquired Lighthouse Lodge Inc. in Bemidji.
The transaction took place Oct. 31 with EON, Inc. taking over ownership Nov. 1.
Lighthouse Lodge, Inc. was incorporated in 2000 to provide home and community based services for individuals with disabilities. Over the past 18 years, Lighthouse Lodge has provided adult foster care, supported employment and respite services for individuals with disabilities in Beltrami and Hubbard counties.
Lighthouse owners Bryan and Shelley Edwards were looking for a succession plan to employee ownership and chose EON, Inc., a 100 percent employee owned company through an Employee Stock Ownership Plan (ESOP), resulting in a mutually beneficial opportunity. Lighthouse Lodge will now be an independent wholly owned subsidiary of EON, Inc. and its employees will be employee owners through EON, Inc.’s ESOP.
EON, Inc. was recently known as MBW Company and changed their name to highlight their business model of employee ownership as well to acquire Lighthouse Lodge. MBW Company has been in business since 1978, providing support services to people with physical, cognitive, intellectual, and mental health support needs. EON continues to operate their services in south central Minnesota as MBW Company.
“It is a great opportunity for the employees of Lighthouse Lodge and MBW Company to join forces as EON, The Employee Ownership Network, in continuation of our missions to serve individuals with disabilities in the community as an employee owned organization.” commented Ric Nelson, President & CEO. “We are proud to be an ESOP company and strongly believe in the power of employee ownership and how it naturally supports our mission of enriching the quality of life for individuals with disabilities.”
The acquisition expands EON’s service offerings in Minnesota and extends the opportunity for employee ownership to 40 dedicated employees living in and around the Bemidji and Laporte area. EON now provides services and supports to over 160 individuals with disabilities and employs over 230 employees in Minnesota.