The Ledger
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Stavros: C.H.I. Employee Ownership Paid $175K Average, Up to $1M
“So the end payouts ended up being 175,000 on average, and we had hourly workers and truck drivers make almost a million dollars.”
Stavros: C.H.I. EBITDA Grew Organically from $60M to $130M
“We went from 60 of EBITDA in 1516 was great, 17 was great, 18 was great, 19 was great. We were, I don't know, 130 of EBITDA from 60. All organic, no acquisitions.”
Stavros: KKR Bought C.H.I. at 13x and Exited at 14x EBITDA
“I think we paid 13 times on entry and on exit 14 times or something. There was not a huge uplift in multiple.”
Stavros: 600 C.H.I. employees received a 3.5% option pool
“I think it was three and a half percent of the company in options. Of the 800 folks, maybe the top 200 got outright grants, made meaningful investments in the company, and were traditional management equity plan participants, as you would normally think of it.…”
KKR has 25 active broad-based employee ownership programs across US portfolio
“We started that about 12 years ago. Extended that across our entire industrials portfolio over a period of time, so we've done it maybe 12 times with manufacturing businesses, and then in total today have 25 live cases of this across all of our different verti…”
Stavros: Ingersoll Rand reduced quit rates from 20% to 2%
“It was Ingersoll Rand where the quit rate went from 20% a year to two percent, and the engagement scores went from the 19th percentile to the 90th.”
Stavros: C.H.I. Grew Revenue 120% While Scrap Rose Only 7%
“Revenue was up a 120%. You took all this market share, lead time advantage versus the competition gapped out massively. Despite the 120% revenue growth, scrap only grew seven percent.”
Stavros: Top PE firms each control up to one million employees
“Or in a more concentrated way, could you convince Blackstone, Carlyle, TPG, Apollo, Aries, Warburg, Pincus, Bain, a handful of companies which each control half a million, million employees.”
Stavros: C.H.I.'s OSHA recordable incident rate was 14 per 100 workers
“The injury recordable incident rate, which is OSHA's key metric of safety, was 14 at the time, so what that means is for every hundred people in the plant, how many people per year were getting hurt? It was 14 out of a hundred per year.”
Stavros: C.H.I. Frontline Workers Received $9,000 in Interim Dividends
“Over the years, we paid four dividends. Those dividends amounted to about 9000 dollars per employee.”
Stavros: Nucor plant workers made roughly $35k in profit sharing last year
“If you look at their financials, I think their manufacturing plant employees made last year on top of their wages, like 35,000 dollars in profit sharing, a lot of money.”
Stavros: About 20 PE firms have committed to Ownership Works
“So we've got about 20 private equity firms signed up, and by signed up, I mean they're committed to doing this at least a few times in their portfolio, following our standards, and then sharing some data back to the nonprofit so we can track where's the money …”