The Crosby Group announces ownership participation programme for all employees
The Crosby Group (Crosby), a global leader in lifting, rigging, and load securement hardware has announced that all global team members will now participate in the equity growth of the business.
This programme, designed and supported by KKR, which acquired Crosby in 2013, provides every team member employed at the time of a future sale or liquidity event, regardless of location or role, with a meaningful financial stake in Crosby’s growth. KKR and Crosby firmly believe that broad based employee ownership is a key pillar in driving employee engagement and, in turn, building a stronger business.
Robert Desel, CEO of Crosby, said, “All 1400 of our global team members impact the value of the business and should see the benefit from the value they help to create. This innovative programme does exactly that and will fuel the legendary passion and dedication that has made The Crosby Group what it is today.”
Desel continued, “This programme provides incredible alignment across the entire team, right through to KKR, elevating employee engagement and furthering our shared commitment to our core values of safety, reliability and innovation. Our dedicated team members, together with our valued channel partners, will continue the delivery of best-in-class lifting and rigging solutions and support of end users around the world.”
Pete Stavros, co-head of Americas Private Equity at KKR, said, “Crosby has a long, rich heritage of market leadership and innovation fuelled by the dedication of its employees, many of whom have been part of The Crosby Group team for decades. We, alongside The Crosby Group management team, are thrilled to bring this programme in order to commemorate these contributions and align every employee through ownership in Crosby’s equity appreciation.”