Business
KKW Trucking Becomes 100% Employee-Owned Through an Employee Stock Ownership Plan (ESOP)

After 57 years of significant expansion and growth, KKW Trucking opens its next chapter
POMONA, CA: KKW Trucking, Inc. and its affiliates have completed a transaction to become 100% employee-owned through its newly-created Employee Stock Ownership Plan (or “ESOP”). The Company was founded in 1962 in Los Angeles, CA and today it operates out of its 91,000 square foot facility on 9 acres in Pomona, CA to provide transportation services, including irregular route truckload services for world-class manufacturers, retailers, and consumer packaged goods companies throughout 12 western states. The Company operates 120 local, 265 sleeper tractors and more than 1,300 trailers.
According to Dennis Firestone, CEO, “Building this Company from 9 trucks that worked out of a 6,000 sq. ft. cross-dock into what we have become over the last 52 years has been a very gratifying experience indeed. The reality is that KKW Trucking was built by a team of hard-working committed men and women, and if I was to get any credit for our successful journey then it would only be that I was able to recruit and train most of these amazing individuals. The time has come for me to step aside, and the thought of turning our Company over to the very people that helped me build it is a dream come true. I truly believe that when the notion sinks in that each of our team members is truly owners and they realize that they will directly benefit from their extra efforts, then the sky becomes our only limit. I couldn’t come up with a better way to say ‘thank you’.”
Dennis Firestone has held the title of President for 52 years and will now become Chairman of the Board with Steve Benninghoff replacing him as CEO and Lynnette Brown continuing on with her role as CFO. Steve and Lynnette have groomed a successful management team and Dennis admits “It’s time to let this young yet well-seasoned team take the reins and transport this new company to a whole new level”
After fifty-seven years of significant expansion and growth, all of the ownership of KKW Trucking has transferred to a qualified retirement plan, specifically an ESOP. All eligible employees will be credited with shares of Company stock within the ESOP trust each year at no cost, allowing them to earn ownership and accumulate tax-deferred retirement wealth through their service. KKW Trucking joins a group of elite employee-owned transportation companies such as the Paladin Capital companies, TMC Transportation, Big G Express, J&R Schugel, and Wheaton, to name a few.
KKW Trucking, Inc. was advised by Ambrose Advisors, a national investment banking firm specialized in employee-ownership transitions. Michael Harden, Senior Managing Director with Ambrose Advisors, stated, “Dennis’s goal was to secure a sustainable future for KKW Trucking in a way that would be highly beneficial to the employees, customers, vendors, and the community in addition to himself. Employee ownership, done right, benefits all stakeholders and should be celebrated. It is a true win/win transaction for all parties involved and we were pleased to be a part. We heartily congratulate the KKW Trucking team and thank them for trusting Ambrose Advisors to manage this ownership transition process.”
About: KKW Trucking, Inc. operates a trucking transportation business serving customers in 12 western states. http://www.kkwtrucks.com
About: Ambrose Advisors is a national middle-market investment bank and financial advisory firm focused on guiding and assisting business owners with ownership succession planning, primarily through employee ownership. http://www.AmbroseAdvisors.com
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Business
Inland Empire Regional Chamber of Commerce to Lead California Delegation at GITEX GLOBAL 2023 in Dubai

Fostering Technological Synergy: Bridging the Tech Gap with Global Partners
Demonstrating the Inland Empire Regional Chamber of Commerce’s (IERCC) commitment to global tech collaboration and innovation, the organization will lead a California delegation to the world-renowned GITEX GLOBAL event in Dubai from October 16-20, 2023. Though the original invitation extended to IERCC’s President & CEO, Mr. Edward Ornelas, Jr., he will not be in attendance. Instead, the California delegation will be spearheaded by the Chamber’s newly-appointed CTO, Mr. Gabriel Rangel.
Organized by the Dubai World Trade Centre, GITEX GLOBAL 2023 promises to be grander than ever. The event is set to host over 6,000 exhibiting companies and startups, drawing more than 170,000 tech and business executives from over 170 countries. The mega-event will sprawl across 41 vast halls and, for the first time ever, will be held at two prominent venues – the iconic Dubai World Trade Centre and the new Dubai Harbour for Expand North Star, making it the host for the world’s largest startup event.
Mr. Edward Ornelas, Jr. commented, “While I regret not attending GITEX personally, I am proud to have Mr. Rangel at the helm of this effort. I’m confident that our delegation will foster new collaborations and present the Golden State as a tech powerhouse.”
This year’s conference adopts the compelling theme of “The Year to Imagine AI in Everything”. Attendees are poised to witness the grandest showcase of AI tech giants and industry frontrunners. Additionally, it promises to kindle profound dialogues and debates concerning the socio-economic implications of burgeoning AI technology.
“Leading the California delegation at GITEX offers us an unmatched platform to nurture and solidify relationships with global tech partners,” said Mr. Gabriel Rangel, CTO of IERCC. “As the technology landscape continues to evolve, it’s critical for us to be a part of these international collaborations. I’m honored to spearhead this mission on behalf of the Inland Empire Regional Chamber of Commerce.”
An integral part of the California delegation, Mr. Ram Thanapandian, Principal Technology Consultant to the State of California and Chair of CA State Treasurer Fiona Ma’s Technical Advisory Commission, will be present, providing invaluable insights and representing the State of California Treasurer’s Office.
IERCC’s leadership in organizing this delegation underscores the crucial role that California plays in the global tech ecosystem and mirrors Dubai’s ambitious vision as encapsulated in the Dubai Economic Agenda (D33). This strategy aims to substantially expand Dubai’s economic landscape in the upcoming decade, securing its stature among the world’s leading global cities.
Trixie LohMirmand, Executive Vice President of the Dubai World Trade Centre and CEO of KAOUN International, remarked on the invaluable contributions the California delegation will bring to the event. She looks forward to an event marked by knowledge-sharing, collaboration, and pioneering discussions.
For additional information on GITEX GLOBAL 2023, please refer to: GITEX 2023 Preview.
Business
Economist Christopher Thornberg, State Treasurer Fiona Ma Headline New Forecast Conference

Coming October 5th
Economic Horizon 2024: What Lies Ahead?
The Inland Empire Regional Chamber of Commerce, in collaboration with Beacon Economics and the County of San Bernardino, is thrilled to announce that the anticipated economic forecast conference, Economic Horizon 2024: What Lies Ahead, Inland Empire? will be held October 5th from 3:30 PM to 6:30 PM at the El Prado Golf Courses in the vibrant city of Chino, California.
Esteemed economist, Dr. Christopher Thornberg will present complete outlooks for the U.S., California, and Inland Empire economies. “The Inland Empire stands at the crossroads of remarkable economic opportunities and challenges,” said Thornberg. “I’m excited to unpack the trends and shifts that will define the region’s economic landscape in the next year, and beyond.”
Known for his razor-sharp observations, and fun, energized delivery, Thornberg’s presentation will include pointed discussions about inflation, the Fed’s next move, housing markets, strengths and instabilities in the economy, and what current trends mean for the nation, state, and local region.
The conference will also be graced by the insights of California State Treasurer Fiona Ma as keynote speaker. In her words, “The strength of California’s economy is deeply interwoven with the growth trajectories of its regions. The Inland Empire, with its dynamism and resilience, is a testament to this synergy. I am honored to join ‘Economic Horizon 2024’ and share a vision where policies, partnerships, and potentials converge to elevate the Inland Empire to unprecedented economic heights.”
“This conference is a testament to the collaborative spirit of the Inland Empire and our commitment to fostering a robust, resilient economy,” said Edward Ornelas, Jr., President of the Inland Empire Regional Chamber of Commerce. “Our partnership with Beacon Economics and the County of San Bernardino aims to offer a platform for profound economic discussion, forecasting, and strategic future planning.”
Attendees can anticipate not only expert insights into the economy but also networking opportunities and a chance to connect with key business, government, and nonprofit leaders from across the region.
Full event details are available at: economy.iechamber.org
Bizz Buzz
Webb Investments acquires Silver Creek Industries, an industry leader in modular construction for schools

Webb Investments today announced the launch of a new company, Silver Creek Modular, after acquiring the assets of Silver Creek Industries, a highly respected modular construction company known for bringing innovative, sustainable and cost-effective solutions to the education industry.
Silver Creek Industries’ existing business, including its employees and its Perris, Calif., manufacturing facility, will remain with the new company, with Webb providing the investment capital, resources and expertise to enhance Silver Creek’s presence in the modular construction marketplace.
The acquisition closed in June of 2023, following Silver Creek Industries’ Chapter 11 filing in the Central Bankruptcy Court of California.
“We are thrilled to have the opportunity to bring Silver Creek into our family business, and look forward to building on our shared commitment to improving educational opportunities within communities across our region,” said Kiana Webb, CEO of Webb Family Enterprises. “This acquisition aligns with our strategy to invest in established firms that can help us drive community revitalization and inclusive growth, while improving quality of life and increasing economic output.”
Silver Creek Industries was founded in 2004 and has completed more than 1,000 projects in the education, commercial, medical, military, government and multi-family housing markets. More recently, the company’s focus has been on providing high-quality, sustainable modular buildings for schools and educational institutions. Silver Creek Industries is well known for delivering projects on time and on budget, with minimal disruption to school and the community.
Webb Investments is a privately held, family-owned company focusing on creating a community development ecosystem that drives inclusive, organic growth and transforms the areas they serve.
For more information on Webb Investments, please visit webbinvestments.com.
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