Pros
Busy work environment where you begin running localization projects end-to-end very quickly, in line with a defined structure, which means you're working in line with best practices. There's a high degree of autonomy in your day-to-day tasks, and a great group of people to work with in the office. Linguists are respected and paid their asked-for rates. If you need a tool to help run your projects more efficiently (or changes to an existing tool), these are created in-house, and quickly. APM training (PFQ, and later PMQ) opportunities are made available, as well as other in-house training opportunities. Becoming an employee-owned business means you have more of a voice than in other businesses.
Cons
Turnover is quite high (expected in the localization industry), and recruitment tends to be at the project administrator level (from which you will progress) but the company would benefit from hiring more experienced PMs to cope when workload is high.