OAKBROOK TERRACE, Ill., April 5, 2022 /PRNewswire/ — Colson Group, the global leader in caster and wheel products, has unveiled a new equity participation program which grants employees shares in the company and encourages employees to "act like owners." Chief Executive Officer Rich Kobor announced that the organization will provide this opportunity to all Colson employees worldwide at an employee appreciation event held at the construction site of the new Colson Group facility in Jonesboro, AR.
"We are working to create a culture of ownership and transparency," said Kobor. "Our employees make our company what it is, and we want all of them to better share in our success. Our goal is to inspire our employees to act like owners, so that they have a stake in our company’s growth and a voice in our direction."
The program, which is being structured and implemented in partnership with non-profit Ownership Works, aligns with Colson Group’s interest in creating and developing a strong culture of pride and engagement among its employees. The program aims to encourage employees to take greater responsibility for their work at the company by aligning the interests of both the company and the individual.
"Importantly, we believe this program could make a meaningful difference in the lives of our employees and their families, while driving increased value for Colson," said David Wells, Chief Human Resources Officer.
This approach is based on the conviction that employees are significantly more likely to personally identify with their company if they own a part of it. Employee co-owners are more motivated and committed, willing to assume responsibility, and contribute to their company’s long-term success.
Colson Group is a portfolio company of Blue Wolf Capital Partners LLC, New York-based private equity firm that builds stronger businesses by combining financial and operational discipline with Environmental, Social, and Governance (ESG) principles.
About Colson Group:
Colson Group, the global leader in caster and wheel products, creates and drives solutions that move lives forward. World renowned brands provide specialized mobility for every industry and market. A leading product portfolio and proprietary global value chain delivery unparalleled efficiencies and support. With over 1,600 employees across 25 global facilities, Colson Group is committed to its customers’ success, ensuring proper products are selected or designed from the start, and always keeping the end-users’ safety, efficiency, and happiness in mind.
Press Contact: Eric Gorte
SOURCE Colson Group