NDS Becomes 100% Employee-Owned Through an Employee Stock Ownership Plan

Anaheim, CA: NextDay Delivery Service (“NDS” or “the Company”) has completed a transaction to become 100% employee-owned through its newly-created Employee Stock Ownership Plan (“ESOP”). Norco Delivery Service, the predecessor company to NDS, was founded in southern California in 1957.

The Company is based in Anaheim, California and is in the business of US mail pickup & delivery, US mail processing (metering and pre-sort), inter-office courier (“pouch”) service, and same-day messenger deliveries.

After 66 years of private family ownership, the owners of NDS have transitioned 100% of the Company’s total ownership to the employees of the Company through a qualified retirement plan known as an Employee Stock Ownership Plan (“ESOP”). All eligible employees will be granted shares of Company stock each year, at no cost, allowing them to earn ownership over time, and to accumulate tax-deferred retirement wealth. NDS joins an elite group of 100% employee-owned companies across the United States of America.

According to Mark Nakakihara, President of NDS, “We truly value each and every employee, and we are excited to know that our team will now share in the ownership of NDS. We want our employees to feel like owners, and we are hopeful that this ownership opportunity will help us continue to retain and attract the best people in our industry. There were many good reasons for NDS to transition to employee- ownership, including our desire to provide an additional financial incentive for our loyal team. When NDS wins, our employee-owners will win. Today is an exciting day for everyone on the NDS team.”

NDS was advised by AmbroseAdvisors, a firm that specializes in employee-ownership transactions. Michael Harden, Senior Managing Director, stated “NDS’s goal was to secure a sustainable future for the Company in a manner that would be highly beneficial to its managers, employees, clients, and the community. Employee ownership, when done right, benefits all stakeholders and should be celebrated. It is a true win/win transaction for all parties involved and we are pleased to have been a part of it.”