Kanawha Scales & Systems Launches Employee Ownership Plan

POCA, W.Va.--(BUSINESS WIRE)--Kanawha Scales & Systems (“KSS” or “the Company”), a leading provider of mission-critical calibration, maintenance, and repair services for complex industrial weighing systems and automated control solutions, today announced the launch of its Employee Ownership Plan (“EOP”). The Company believes that this is the first initiative of its kind in the scales and weighing industry.

As of today, all KSS full-time employees who are not already equity holders and have completed one year of service will receive a one-time grant of shares in the Company at no cost. Under the company’s growth plan, shares could be worth several months of salary or more upon an exit or liquidity event.

The KSS EOP is structured to achieve broad employee participation, including employees of companies acquired by KSS in the future. Employees who join KSS through an acquisition will have their prior tenure recognized toward the one-year full-time requirement. Those with at least one year of service at the time of acquisition will be eligible for the one-time share grant upon closing. Current and prospective full-time employees who reach one year of tenure will also be granted the one-time share grant, with a value recalculated based on the present-day value of the Company at the time of grant.

“Our success in relaunching as an independent company could not have been possible without the dedication and focus of our talented employees. We are proud to reward them with a stake in the Company so that they ultimately benefit from the value they help create,” said Chris Carsten, CEO of KSS. “By giving employees a meaningful share in our success, we ensure that everyone connected to KSS is aligned to deliver for our customers and drive growth.”

The share awards were issued with the financial support and backing of Investcorp, a global alternative investment manager that invested in KSS last year. The KSS EOP is the second such plan within Investcorp's North America private equity portfolio, building on similar programs successfully implemented at other portfolio companies that have resulted in meaningful cash payouts to hundreds of non-executive employees upon exit.

“We’ve seen firsthand that EOPs attract and retain great people, because they show employees the company is invested in them, not just the other way around. It’s a real, tangible addition to our benefits package and something not many companies in our industry can offer," said Jackie Moore, Human Resources Director at KSS. “As we continue to grow as an independent company, having the right team in place will be critical to our success, and we’re proud to extend that opportunity to everyone who joins KSS.”

“Employee ownership ensures that value creation is shared more broadly across the organization. We believe the KSS EOP will deepen alignment, strengthen talent attraction and retention, and reinforce a culture where employees think and act like owners,” said Amit Gaind, Senior Managing Director at Investcorp. “We congratulate the KSS team on this milestone and look forward to building the future together.”

About Kanawha Scales & Systems

Founded in 1954, KSS is a leading provider of mission-critical calibration, maintenance, and repair services for complex industrial weighing systems and automated control solutions in the United States. Headquartered in Poca, West Virginia, KSS is a recognized leader in the weighing and automation industries. Proudly delivering superior service, KSS supports customers nationwide through a robust network of certified branches across the Midwest, Northeast and Southern US. The Company provides expert service, calibration, and replacement products for a wide range of instruments and scales, along with heavy-duty scale test equipment, automated truck and rail loadout systems, batching and filling systems, and a broad array of customized automated industrial solutions. (Learn more at www.kanawhascales.com).