Gardner Denver Marks First Day of Trading on New York Stock Exchange by Announcing More Than $100 Million in Equity Grants to...
May 12 2017 - 11:40AM
Business Wire
In a video message seen worldwide, GDI and
majority owner KKR tell nearly 6,000 employees they will become
stockholders
Gardner Denver Holdings, Inc. (NYSE: GDI), a leader in
mission-critical flow control and compression solutions for
industrial, energy and medical markets, marked its first day of
trading on the New York Stock Exchange (NYSE) on May 12 by
announcing more than $100 million in deferred stock unit grants to
nearly 6,000 of its employees worldwide. In a video message to team
members around the globe, Vicente Reynal, Gardner Denver CEO, and
Pete Stavros, Gardner Denver Board Chairman and KKR Member and Head
of its Industrials Private Equity Team, announced that in
conjunction with the company’s initial public offering, each
employee not already part of the company’s equity program – from
hourly production to customer service to sales personnel – will
receive a significant grant of company stock (in the form of
deferred stock units). Reynal and Stavros told employees that their
grant will be equal to 40 percent of their annual base salary.
The news came as employees around the world saw a broadcast of
senior executives from Gardner Denver and KKR ringing the opening
bell at the NYSE. KKR has owned Gardner Denver since 2013 and will
continue to hold a majority of the company’s shares.
“The customer focus, integrity, bias for action and teamwork of
our associates around the world have made our products more
innovative, expanded our commercial and operational reach, and
generated attractive financial performance, all of which makes this
IPO possible. We and KKR intend this grant to be a celebration of
our important business achievements in service of our customers
over the last four years, while allowing every single employee of
this company to share in our value creation and growth going
forward,” Reynal said. “The steadfast commitment of our employees
is what generates the momentum for Gardner Denver to continue to do
great things.”
Stavros added, “We are passionate about what engaged employees
can do and what we can achieve together when everyone is working
toward a common goal. As a result, we make it a priority with our
Industrial companies to make every employee an owner in their
business. We have accomplished a lot at Gardner Denver and it’s
exciting to think about what 6,100 employee-owners all pulling in
the same direction will be able to achieve going forward. ”
“From the factory floors to the sales offices, labs and
corporate and regional headquarters around the world, this team has
worked tirelessly to drive progress, innovation and quality. Both
Gardner Denver and KKR fully believe in the power of our team – and
even more, the exponential power we have with positive employee
engagement and working globally together,” Reynal concluded.
About Gardner Denver Holdings, Inc.
Gardner Denver is a leading global provider of mission-critical
flow control and compression equipment and associated aftermarket
parts, consumables and services, which it sells across multiple
attractive end-markets within the industrial, energy and medical
industries. Its broad and complete range of compressor, pump,
vacuum and blower products and services, along with its application
expertise and over 155 years of engineering heritage, allows
Gardner Denver to provide differentiated product and service
offerings for its customers’ specific uses. Gardner Denver supports
its customers through its global geographic footprint of 37 key
manufacturing facilities, more than 30 complementary service and
repair centers across six continents, and approximately 6,100
employees worldwide. www.gardnerdenver.com
About KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world‐class people, and
driving growth and value creation at the asset level. KKR invests
its own capital alongside its partners' capital and brings
opportunities to others through its capital markets business.
References to KKR's investments may include the activities of its
sponsored funds. For additional information about KKR & Co.
L.P. (NYSE: KKR), please visit KKR's website at
www.kkr.com and on Twitter @KKR_Co.
Forward Looking Statements
This press release includes certain disclosures which contain
“forward-looking statements.” You can identify forward-looking
statements because they contain words such as “believes” and
“expects.” Forward-looking statements are based on Gardner Denver’s
current expectations and assumptions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that may differ
materially from those contemplated by the forward-looking
statements, which are neither statements of historical fact nor
guarantees or assurances of future performance. Important factors
that could cause actual results to differ materially from those in
the forward-looking statements are set forth in our filings with
the SEC, including our registration statement on Form S-1, as
amended from time to time, under the caption “Risk Factors.”
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170512005481/en/
For GDI Media:Kim
Rubottom414.212.4709Kim.Rubottom@GardnerDenver.comorFor GDI
Investor Relations:Vikram
Kini414.212.4753Vikram.Kini@GardnerDenver.comorFor KKR
Media:Kristi Huller or Cara
Kleiman212.750.8300media@kkr.com
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