June 17, 2019

Update on Mayville Engineering Company: Employee-Owned and Publicly Traded

Our May 15 update reported that employee-owned Mayville Engineering Company would remain employee-owned following its initial public offering. On June 13, the company announced its board had authorized a buyback of $4 million of its common shares, which would "allow the Company to use the repurchased shares to meet its required 2019 safe harbor funding obligation" under its ESOP.