When Brent Cooper founded C-Forward, an information technology consulting service to small and mid-size businesses, back in 1999, he secured his first investment from his mother, who he promptly paid back after 90 days. At that time, C-Forward only had three employees and $280,000 in revenue.
Fast forward to today, C-Forward boasts annual revenues of $8 million and employs over 35 people. The business relocated to Covington from Fort Thomas in 2003, contributing to revitalizing the city’s Central Business District in the years since.
On Thursday, C-Forward hosted a 25th anniversary celebration at it company headquarters at the corner of W. 5th Street and Madison Avenue. Northern Kentucky dignitaries such as Campbell County Judge/Executive Steve Pendery, Boone County Judge/Executive Gary Moore, State Senator Shelley Funke Frommeyer and Covington Vice Mayor Ron Washington were all in attendance.
The event commemorated C-Forward’s journey, while also serving as a venue to break important news — a transition of ownership.
After 25 years of growth and community investment, Cooper announced that he was selling the C-Forward to his employees, transforming the company into an Employee Stock Ownership Plan, or ESOP.
“This big announcement tonight is that as of Saturday morning, at 6:30 in the morning, we have officially become an employee-owned business, an employee stock option purchase business,” Cooper said.
C-Forward President Brian Ruschman, one of the company’s longest-tenured employees, will remain in his role. Cooper will also remain as CEO.
Cooper also announced the addition of Norman Desmarais, founder of TiER1 Performance, to C-Forward’s Board of Directors. Desmarais has known Cooper for 23 years. He was there when C-Forward first moved into their current building in Covington. At the time, Desmarais operated TiER1 Performace out of the building’s third floor. As such, he had a front-row seat to the company’s growth and development.
“It’s often said that the hardest part of any business is the beginning,” he said. “The startup phase, where dreams collide with numerous and never-ending challenges. Statistics show that most startups don’t make it past the first five years, let alone thrive for a quarter of a century.”
Washington, Covington’s mayor-elect, spoke on C-Forward’s investment back into Covington, particularly with their involvement in helping spurn a revitalization effort along Madison Avenue. Washington said he grew up in Covington, witnessing how the city has transformed from childhood to today.
“Now, up and down Madison Avenue, we’ve seen how people have embraced the environment, that’s because of the forward-thinking of C-Forward,” Washington said.
Ruschman touted the company’s longstanding relationship with the community, highlighting how much the company has donated to local charities and growth organizations. Cooper, himself, serves as the CEO of the Northern Kentucky Chamber of Commerce.
“We’ve focused our vision of wanting our communities to succeed, and as a result of our collective efforts, over the past ten years alone, C-Forward, has given over $1 million to community and growth organizations in our area,” Ruschman said.