Global investment firm KKR has completed the previously announced sale of CHI Overhead Doors (CHI), a specialist in the garage door industry, to Nucor Corporation.
In connection with closing, all 800 CHI employees have received a substantial cash payout – on average approximately $175,000 – on their equity in the Company. With Nucor’s acquisition, CHI’s leadership team, led by CEO Dave Bangert, is expected to remain in place and continue to run the business under the CHI name.
Since 2011, KKR has implemented broad-based employee ownership and alignment programs throughout its portfolio, first throughout KKR’s US Industrials private equity investments and more recently expanding across sectors.
Read more: Private Equity Wire
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