The team at Horn Photo in Fresno will become owners as the company partners with New York-based Teamshares. Photo via Horn Photo

Fresno-based Horn Photo is the latest local company to become employee owned.

Horn Photo is a Fresno institution, opened by the Horn family in 1937. Surviving the depression, recessions and other difficult times, It was purchased by frequent customers Stan and Shelly Grosz in 1991.

Since then, the pair has relocated from the original Belmont Avenue location and expanded, with 20 employees today — some of whom will now become owners.

According to the Groszs, becoming an employee-owned business honors their team as well as the business’s family legacy.

“It allows a successful business to continue to thrive after the owners have retired, according to the Horn Photo website. “The team of dedicated employees have always been the greatest strength for Horn Photo. Passing the business on to the employees is a way of honoring their hard work and preserving the company’s legacy for generations to come.”

Horn Photo partnered with New York-based Teamshares. Teamshares works by purchasing a majority of a company from owners looking to retire.  Employee owners now own 10% of the business and will increase to 80% in the next 15-20 years.

The Groszs will continue to be involved with Horn Photo until new company leadership is selected. They ultimately plan to spend more time with grandchildren and work on their farm.

Other local employee-owned companies include Fresno’s Ritchie Trucking, Bland Co., Jorgensen Co., Geil Enterprises,