New Video Showcases How Private Equity Empowers Workers Through Employee Ownership
AIC member The Riverside Company’s investment in PFB Corporation empowers employees across its manufacturing facilities in Michigan, Ohio, and Idaho to build long-term wealth
Today, the American Investment Council released a new video showcasing how private equity is helping employees build wealth and strengthen their communities through shared ownership. AIC member The Riverside Company and nonprofit partner Ownership Works recently announced that employees of portfolio company PFB Corporation (PFB) will receive a payout equivalent to 3.5 months of their base salary—demonstrating another example of how private equity is empowering workers through financial opportunity. Since Riverside took ownership of PFB in 2021, PFB has doubled its earnings, improved safety metrics by nearly 70%, and expanded its distribution and manufacturing capacity.
PFB is a leading provider of building materials and insulation products in North America and employs hundreds of workers at its three American manufacturing facilities in Michigan, Ohio, and Idaho. PFB was the first Riverside company to partner with Ownership Works, a nonprofit organization that collaborates with private equity firms to create employee ownership opportunities.
“We greatly appreciate Riverside’s support and partnership as we’ve executed our strategic growth plan over the past three years. We’re also incredibly proud of the hard work and commitment to excellence demonstrated by the entire PFB team in reaching this milestone,” said Robert Graham, PFB Corporation CEO.
“I’m very amazed with the stats and what we were able to accomplish, what we ended up changing, what we’ve been through,” stated one PFB employee.
Several AIC member firms have partnered with Ownership Works to give their employees a stake in company success. Since its founding in 2021, Ownership Works has helped implement employee ownership programs at 113 companies, impacting over 160,000 workers whose lives are now touched by shared ownership.
Workers employed by private equity-backed businesses can depend upon strong wages and safe work environments. In 2022, the average U.S. private equity sector worker, both full- and part-time, earned around $80,000 in wages and benefits—the equivalent of about $41 per hour for a full-time worker and higher than the national average.
With more private equity firms embracing shared ownership models, private equity continues to demonstrate its ability to drive business growth while creating meaningful financial benefits for employees.
