GTCR Teams Up with Ownership Works to Promote Employee Ownership at Portfolio Companies

GTCR Partners with Ownership Works to Promote Employee Ownership

In a significant move to enhance workplace dynamics and encourage employee participation in business success, GTCR, a prominent private equity firm, recently announced its partnership with Ownership Works, a nonprofit entity focused on advancing employee ownership models. This partnership aims to implement broad-based equity ownership programs across GTCR's portfolio companies while fostering long-term value creation.

Commitment to Employee Ownership

GTCR has long been an advocate for innovative business strategies that align employee interests with organizational performance. This collaboration with Ownership Works serves as a testament to their commitment. Dean Mihas, Co-CEO of GTCR, emphasized the importance of meaningful partnerships in cultivating deep-rooted connections between employees and company objectives. He stated, “Our partnership with Ownership Works reflects our longstanding view that broad-based employee ownership can be a meaningful part of how companies build alignment and long-term value.”

Ownership Works, which launched in 2022, is dedicated to fostering economic wellbeing for workers through shared ownership. This nonprofit organization collaborates extensively with business leaders and investors to equip all employees with opportunities to become part owners, thereby participating in the financial prosperity they contribute to creating.

The initiative is not just about sharing profits; it's about embedding a culture of inclusion within organizations, enhancing overall performance, and ensuring that employees feel valued and connected to the company's success.

Implementing Equity Ownership Programs

Ownership Works brings a wealth of resources, tools, and practical models to the table, aiding companies in structuring efficient shared ownership programs. The organization offers a hands-on approach, helping businesses implement strategies that can significantly boost employee morale and productivity. Through this partnership, GTCR intends to work selectively with portfolio companies to design personalized equity ownership initiatives tailored to their specific needs.

Anna-Lisa Miller, Executive Director of Ownership Works, expressed her enthusiasm about the partnership, stating, “Ownership Works is proud to partner with GTCR, as we work together to support portfolio companies and advance long-term value.” With a shared vision for success, the partnership aims to create environments where employees not only contribute but also reap the rewards of their hard work.

Aiming for Wealth Creation

Ownership Works has set ambitious goals, aspiring to generate at least $20 billion in wealth for workers by 2030. Thus far, the organization has successfully generated $11 billion for non-executive workers, with an impressive $1.3 billion already distributed. The projection indicates potential future payouts of over $10 billion through programs currently underway.

This coalition between GTCR and Ownership Works signifies a shift towards a more inclusive economic model, empowering employees to share in the financial gains of their contributions. By integrating employee ownership structures, GTCR reaffirms its commitment to ensuring that workers can build meaningful wealth and create a brighter future.

About GTCR and Ownership Works

Founded in 1980, GTCR has cultivated a strong reputation as a leading private equity firm, investing in transformative growth across various sectors, including Consumer Services, Financial Services, and Healthcare. With over $30 billion invested across approximately 300 companies and around $50 billion in capital under management, GTCR is well-positioned to introduce innovative shareholder models through its vast portfolio.

On the other hand, Ownership Works stands as a beacon of hope for economic inclusion. By promoting shared ownership, the nonprofit aligns with the broader goal of ensuring that every worker has a stake in the success of their organization, enhancing both individual and collective financial wellbeing. Their dedication to this mission is clear as they continue breaking down barriers to employee ownership.

In conclusion, the partnership between GTCR and Ownership Works represents a significant leap towards cultivating a new paradigm of employee engagement and financial equity. This alliance not only aims to reinforce the foundations of successful businesses but also aspires to create lasting positive impacts on worker livelihood across the economy.