Summary
KKR’s sale of CHI, the garage door manufacturer, made headlines for being one of KKR’s highest returns since the 1980s and the life changing pay-out of CHI’s hourly employees and truck drivers. After a movement led by by Pete Stavros, Chairman of CHI and Co-Head of the Americas Private Equity platform at KKR, CHI management gave every employee an equity stake in the company, allowing them to participate in its growth as well as a substantial return upon KKR‘s exit. As a result, over 600 blue-collar workforce got an average of $175,00, up to $800,000 for the longest serving employees.