Pete Stavros was on a high after his latest experiment with employee ownership. As the head of industrial investments for KKR, Stavros orchestrated the sale of CHI Overhead Doors, which turned into KKR’s best investment in more than two decades and created $360 million in wealth for CHI’s blue collar workforce through broad-based employee ownership. … Read More
When owners of family-owned and other closely held businesses think about retirement or exit, they weigh several considerations. They often ask themselves and their advisors such questions as: How do I cash out? How do I best handle succession, estate, and tax issues? What will happen to the business that my family members or partners, … Read More
This case examines the decision by private equity firm KKR to grant equity to every employee at portfolio company CHI Overhead Doors upon purchasing the company in 2015. The case explores whether this initiative will create shared value, growing profits through better incentive alignment while creating wealth for low-wage manufacturing workers. While CHI witnessed some … Read More
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 Pete Stavros, Chairman of CHI and Co-Head of the Americas Private Equity platform at KKR, CHI management gave every employee … Read More
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 … Read More
This mini-case study examines employee share ownership at National Van Lines, where an Employee Stock Ownership Plan (ESOP) provided a family-run business a succession plan that ensured the continuation of the company and protected employee jobs. Just one-third of family businesses successfully transition from the first to the second generation of ownership and only 12% … Read More
This case study examines employee share ownership at Parksite, Inc., where the employee stock ownership plan (ESOP) is paired with a strong company culture and high job quality. For the company’s co-founders, the ESOP provided a solution to a major transition challenge. The company’s long-term employees accumulate considerable stock wealth through the ESOP. Discussion questions … Read More
How National Van Lines retained its culture and success through employee ownership, guided by the ESOP advisory services of Verit Advisors.
For nearly a decade, I have had the pleasure of knowing and working with Maureen Beal, the third-generation owner and chairman and CEO of National Van Lines, the national company whose brand is synonymous with “moving.” Maureen, who began as a teen switchboard operator at the company and then in 1993 took the helm after … Read More
With all the news about company bankruptcies, increased government regulations, higher equipment costs and economic uncertainty, some motor-carrier owners are looking for options…
SRC Holdings Corporation, formerly Springfield Remanufacturing Corp., is a well-known manufacturing enterprise comprised of numerous companies spread across 12 Business Units…
Many of the most important practices at this company exist in large part because Wall Street and the banks have applied so much pressure. If the financial community had gone easier on us, we might not be where we are today.