By Nick Boever, CEPro
The original owners, David Daniels, Mike Thul, and Chris Thul remain integrated with the company as consultants but have stepped away from daily operations as of August 31st.
With over 60 employees and offices spread across Aspen, Denver, and Avon, Xssentials has covered the Colorado Rocky Mountain Region with services ranging from audio installs, to lighting and window covering designs. However, as with any long spanning business legacy, the topic of succession inevitably enters the picture, and its with this in mind that the founders of Xssentials have announced they have passed ownership of the company to six employees who have been serving as Managing Directors since 2022.
The team of new employee-owners, in alphabetical order, is as follows: Will Brosius, David Brown, Russ Hohensee, Jess Silker, David Stys, and Sean Thul.
The six have a combined 84 years of service with Xssentials and its predecessor companies ESC and Thul. The change of ownership is effective as of August 31st.
Xssentials Succession Years in the Making
The succession plan has been in the works for several years, notes the company in a press release regarding the change of ownership, with the team having handled day-to-day management of Xssentials, with oversight from the owners, for the past two years.
“We’ve been planning this step as a natural progression for a number of years to ensure end-to-end continuity and ongoing positive experiences for all our stakeholders,” notes Mike Thul, one of the former owners of Xssentials.
“The six Managing Directors, now the new owners, have been running the business for two years, and we have the utmost confidence in their ability to carry Xssentials forward in an exciting way with the same devotion we’ve embraced since the company’s inception. We’re glad to be able to take these vital steps, and for our team that has worked so diligently to make the company successful. The transition will be100% seamless as we move Xssentials to the next generation of leaders.”
The current owners—David Daniels, Mike Thul, and Chris Thul—will continue as paid consultants for a period of five years but will not be involved in the everyday business procedures of Xssentials after the transaction date.
“Our valuable customers, industry partners and—especially—our employees will not notice any difference in daily operations,” assures Thul.
Xssentials currently services more than 3,000 residences in 32 states and 16 countries.