Investcorp-backed Kanawha Scales & Systems has launched an employee ownership plan that will grant equity to full-time workers with at least one year of service.
West Virginia-based KSS provides calibration, maintenance and repair services for industrial weighing systems and automated control equipment across the U.S. The company said the employee ownership program is the first of its kind in the scales and weighing industry and will extend to employees joining through future acquisitions.
Founded in 1954, KSS operates a network of service branches across the Midwest, Northeast and Southern U.S. and supplies weighing, batching and automated loadout systems for industrial customers. Investcorp backed the company last year and said the KSS program is the second employee ownership initiative within its North America private equity portfolio. The plan is structured to provide one-time equity grants to eligible employees based on the company’s value at the time of issuance. Chris Carsten, CEO of KSS, and Amit Gaind, senior managing director at Investcorp, supported the initiative.
