Eastern Garage Door At a Glance
- Co-op Type: Worker Co-op (conversion)
- Industry: Construction, Building, and Design
- Location: Lawrence, MA
- Founded: 1930 (became a co-op in 2024)
- Worker-Owners: 6
- Employees: 9, majority women- and BIPOC-owned
- Loan: $180,000 term loan and a $72,000 revolving loan
- Use of Loan: Purchase the business and equipment (a vehicle)
- Revenue (2024): $2,324,707
A Legacy Business at a Crossroads
Eastern Garage Door has been part of Lawrence, Massachusetts for nearly a century. Founded in 1930 as a product line of Lawrence Plate Glass Company, the company built its reputation on reliability, craftsmanship, and long-standing customer relationships.
By 2011, Dave Berryan became the owner after years as a manager. When he began planning for retirement, he faced a familiar small-business dilemma: sell to a competitor, close the doors, or find a way to protect both the business and the people who made it successful.
A Spark of Possibility: Ownership for the Workers
At a breakfast hosted by the Merrimack Valley Chamber of Commerce and Cooperative Development Institute (CDI), Dave learned about the cooperative model and prepared to offer a bold alternative to his employees—selling the business to them. What started as curiosity quickly turned into commitment.
In January 2023, six long-time employees—many with 20+ years at the company, including one who started in high school—began the journey to become worker-owners. Every Wednesday for more than a year, they met to learn governance, finances, and what it truly means to own a business together.
Eastern Garage Door staff
Turning Vision into Reality with CFNE
As the conversion took shape, financing became the missing piece. The seller contributed equity and a subordinate loan, and the workers invested personally—but there was still a gap.
Introduced to CFNE by the Cooperative Development Institute (CDI), the cooperative found a lender willing to look beyond a traditional sale. CFNE worked closely with the team on loan readiness and provided two loans totaling $252,000—funding that made the purchase possible and supported critical equipment needs.
“CFNE helped Eastern Garage Door see options beyond a traditional sale. Instead of closing or selling to a competitor when Dave retired, CFNE found a path forward for us. They took the time to understand our business and our employees and gave us the financial tools to continue operating successfully,” says Tamara McDermott, General Manager.
What Changed When the Workers Became Owners
Today, Eastern Garage Door is a profitable, worker-owned cooperative with six member-owners and nine employees. The transition hasn’t been simple—ownership comes with new responsibilities, constant learning, and shared decision-making—but it has brought refreshed pride, accountability, and long-term stability.
Dave still works a few half-days each week, serving as a bridge between generations of leadership while making space for new systems and ideas to take root.
Impact That Reaches Beyond One Business
The conversion preserved jobs with dignity, kept a trusted local business independent, and created new wealth-building opportunities for a majority women- and BIPOC-owned cooperative.
Looking ahead, Eastern Garage Door plans to expand its service area and grow its workforce—while continuing to deliver exceptional service to its community.
With CFNE’s support, a nearly century-old business didn’t just survive a transition—it became something stronger, fairer, and built to last.
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