Established in 1962, with roots dating back to 1938, Sammons Enterprises is a privately-held, diversified holding corporation that owns and operates businesses across a variety of industries. With thousands of employees around the world and assets approaching $55 billion, Sammons ranks among the largest privately owned companies in the world.
Sammons Enterprises was founded by Charles A. Sammons. The company’s roots originate in Dallas, Texas, where Mr. Sammons began Reserve Life Insurance Company in 1938, providing the foundation for what has grown into Sammons Enterprises.
In the early 1950s, Mr. Sammons began to diversify the company’s operations, purchasing interests in the communications, industrial products distribution, insurance, travel and hospitality industries. Under Mr. Sammons’ leadership, his pioneering companies built success stories in each of these industries. During the 1970s and '80s Sammons Enterprises created a conglomerate of close to 70 companies.
Today, Sammons' three core business sectors include financial services, equipment distribution and real estate. The organization also pursues interests in a variety of investments ranging from assisted living communities to a wind generation project.
The company continues to apply Mr. Sammons' successful business strategies.
In 1978, Mr. Sammons established the company's Employee Stock Ownership Plan (ESOP). Dedicated to creating a true employee-shareholder culture, the Sammons ESOP was designed to provide more than a retirement benefit. It enables employees to impact the value of their personal holdings as a result of their contributions to the success of their individual companies.
Mr. Sammons passed away in 1988, but his dedication to ethical, profitable management lives on.