BLP:373 They Sold the Company to Their Employees. Now they're Millionaires.
Release Date: 09/14/2026
Bulkloads Podcast
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Bill Wallis went to work at 13 to help his family. He served in the 101st Airborne, came home, and bought a single gas station in Cuba, Missouri in 1968. Today Wallis Companies runs 67 stores, a 42 truck bulk fleet moving 120 loads a day, and employs around 1,400 people. In this episode, Matt and Alan take us inside the fuel hauling world most truckers never see: the predictive dispatch tech, the back to back state safety awards, why their turnover is almost zero, and the tribute show truck they built for Bill called "Blue Collar Roots." CHAPTERS 0:00 Intro: Meet Matt and Alan 0:41 From a K9...
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Emery Sapp & Sons is 100% employee owned, 3,000 employee owners strong, with 98 millionaires and about 600 trucks on the road every day. Jared Flinn sat down with co-CEO Robert Gillis in Columbia, Missouri to talk about what happens when a founder sells his company to the people who built it. Billy Sapp started in 1972 because the civil contractors wouldn't show up on time, so he did the work himself. In 1999 he and his partners sold the whole thing to their employees through an ESOP. Twenty six years later, 15 new millionaires were made in a single year, and most of them work in the field. Robert breaks down how the ESOP actually works, why about a quarter of every employee's salary goes into it, and why more owners don't take that path. He also gets into the $2.8 billion I-70 reconstruction between Kansas City and St. Louis, the $608 million stretch ESS won coming out of St. Louis, the broken gas tax that funds our roads, and the freight side of heavy civil, including the 600 company trucks plus the third party haulers, quarry trucks, and brokers it takes to keep aggregate moving. If you haul rock, asphalt, or aggregate, this is a look at the other end of the load.
CHAPTERS
00:00 Meet Robert Gillis, co-CEO of Emery Sapp & Sons
01:55 Billy Sapp, 1972, and the problem that started the company
03:30 What an ESOP actually is, in plain terms
06:43 Why more owners don't sell to their employees
10:30 98 millionaires, and 59% of them work in the field
12:04 If it's in the dirt, on the dirt, or over the dirt
14:00 The $2.8 billion I-70 rebuild and the $608 million job
19:30 The gas tax problem nobody talks about
22:25 What trucking really means to a heavy civil contractor
23:56 600 company trucks and the third party haulers behind them
26:05 Why this company runs with two CEOs
31:08 3,000 retirements riding on your decisions