Full Sail Brewing, a pioneering, beloved Oregon craft brewery, was employee owned—but no longer. Earlier this month, the 78 Full Sail employee-owners and founders voted to sell the company to Oregon Craft Brewers Co., a local investment group formed by Encore Consumer Capital, a San Francisco private equity firm.

“It was about finding our calling in life…balancing work, life, family and friends in a way that makes life truly worth living. It was in that spirit that we became an independent, employee-owned company in 1999, divvying up the company between the 47 of us. Of all our accomplishments, this is the one that makes us most proud,” Full Sail writes on their website.

“For us, this is the next step in that process. We are making a decision that gives real value and honors the promise we made back in 1999,” says Firmat.