Employees buy out Mi-T-M Corp.

Iowa-based Mi-T-M Corp. employees have created an employee stock ownership plan (ESOP), taking 100 percent ownership of the manufacturer of pressure washers, air compressors and other industrial equipment.

Founded by A.J. Spiegel in 1971, the company will remain in the rental and construction industries and use the same business model it has used for the past 50 years.