Indy Chamber / News / Member News / Frakes Engineering Sells Company to Employees

Frakes Engineering Sells Company to Employees

Posted by ehayden on November 9, 2015

Last week, Jim Frakes, President of Frakes Engineering, sold the company that he and his brother, Bill, founded 37 years ago to his 42 employees. Frakes Engineering is a 100% employee owned company, with the transfer of 100% of the outstanding shares in the company to the ESOP Trust.